Shares of Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) dropped 6.2% during trading on Tuesday . The stock traded as low as $184.08 and last traded at $183.08. Approximately 250,495 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 422,310 shares. The stock had previously closed at $195.14.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded shares of Powell Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, March 11th.
Check Out Our Latest Report on Powell Industries
Powell Industries Stock Down 6.1%
The stock has a market cap of $2.21 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 0.98 and a beta of 0.72. The business's 50-day simple moving average is $180.08 and its two-hundred day simple moving average is $204.03.
Powell Industries (NASDAQ:POWL - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $3.81 EPS for the quarter, beating analysts' consensus estimates of $3.34 by $0.47. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. The company had revenue of $278.63 million during the quarter, compared to analyst estimates of $282.68 million. During the same period last year, the business earned $2.75 earnings per share. Powell Industries's revenue was up 9.2% compared to the same quarter last year. Analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.
Powell Industries Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be given a dividend of $0.2675 per share. The ex-dividend date is Wednesday, May 21st. This represents a $1.07 annualized dividend and a yield of 0.58%. Powell Industries's payout ratio is presently 7.52%.
Institutional Investors Weigh In On Powell Industries
Hedge funds have recently bought and sold shares of the stock. Principal Securities Inc. bought a new stake in Powell Industries during the fourth quarter valued at approximately $26,000. Versant Capital Management Inc bought a new stake in shares of Powell Industries in the 1st quarter worth approximately $25,000. Smartleaf Asset Management LLC lifted its holdings in shares of Powell Industries by 455.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company's stock worth $37,000 after acquiring an additional 132 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Powell Industries by 168.8% in the 1st quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company's stock worth $29,000 after acquiring an additional 108 shares during the last quarter. Finally, GeoWealth Management LLC lifted its holdings in shares of Powell Industries by 123.8% in the 4th quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock worth $40,000 after acquiring an additional 99 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors.
About Powell Industries
(
Get Free Report)
Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.
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