Powell Industries (NASDAQ:POWL) Shares Up 8.7% - Here's Why

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) shares shot up 8.7% during mid-day trading on Thursday . The stock traded as high as $235.72 and last traded at $236.61. 342,680 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 416,540 shares. The stock had previously closed at $217.60.

Powell Industries Price Performance

The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 1.15 and a beta of 0.77. The firm's fifty day moving average price is $193.18 and its 200-day moving average price is $196.83.

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, topping the consensus estimate of $3.34 by $0.47. The company had revenue of $278.63 million during the quarter, compared to the consensus estimate of $282.68 million. Powell Industries had a net margin of 16.00% and a return on equity of 35.43%. Powell Industries's revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the firm earned $2.75 EPS. On average, research analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were paid a $0.2675 dividend. This represents a $1.07 annualized dividend and a yield of 0.48%. The ex-dividend date was Wednesday, May 21st. Powell Industries's dividend payout ratio is presently 7.52%.

Insider Activity at Powell Industries

In related news, EVP Michael William Metcalf sold 3,921 shares of Powell Industries stock in a transaction on Friday, June 27th. The shares were sold at an average price of $210.55, for a total value of $825,566.55. Following the sale, the executive vice president owned 28,900 shares of the company's stock, valued at approximately $6,084,895. This trade represents a 11.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett Alan Cope sold 6,775 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $210.55, for a total transaction of $1,426,476.25. Following the completion of the sale, the chief executive officer owned 147,471 shares in the company, valued at approximately $31,050,019.05. This trade represents a 4.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,308 shares of company stock valued at $3,574,755 over the last ninety days. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Powell Industries

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Powell Industries by 1.4% during the first quarter. Vanguard Group Inc. now owns 697,887 shares of the industrial products company's stock worth $118,871,000 after purchasing an additional 9,829 shares during the period. American Century Companies Inc. raised its stake in shares of Powell Industries by 8.3% during the 4th quarter. American Century Companies Inc. now owns 351,750 shares of the industrial products company's stock worth $77,965,000 after buying an additional 27,029 shares during the last quarter. Demars Financial Group LLC acquired a new position in shares of Powell Industries during the 1st quarter worth $58,692,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Powell Industries by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 297,868 shares of the industrial products company's stock worth $66,023,000 after buying an additional 16,002 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Powell Industries by 4.1% during the 1st quarter. Invesco Ltd. now owns 275,979 shares of the industrial products company's stock worth $47,008,000 after buying an additional 10,840 shares during the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Company Profile

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.