Powell Industries (NASDAQ:POWL) Shares Down 6.2% – Here’s What Happened

Powell Industries, Inc. (NASDAQ:POWL) shares were down 6.2% on Wednesday . The stock traded as low as $196.17 and last traded at $195.46. Approximately 261,439 shares traded hands during trading, a decline of 48% from the average daily volume of 504,123 shares. The stock had previously closed at $208.30.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on POWL shares. Roth Mkm started coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price target for the company. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, StockNews.com cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th.

Powell Industries Stock Performance

The company’s 50-day moving average price is $236.27 and its 200 day moving average price is $233.90. The stock has a market capitalization of $2.14 billion, a PE ratio of 13.46, a PEG ratio of 1.01 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last posted its earnings results on Thursday, February 6th. The industrial products company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.83 by $0.03. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. Analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th will be given a $0.2675 dividend. This represents a $1.07 annualized dividend and a dividend yield of 0.60%. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, February 19th. Powell Industries’s dividend payout ratio (DPR) is currently 8.12%.

Institutional Investors Weigh In On Powell Industries

Several institutional investors and hedge funds have recently modified their holdings of POWL. Invesco Ltd. lifted its position in shares of Powell Industries by 134.0% in the 4th quarter. Invesco Ltd. now owns 265,139 shares of the industrial products company’s stock worth $58,768,000 after purchasing an additional 151,850 shares during the period. Wellington Management Group LLP purchased a new position in Powell Industries during the 3rd quarter valued at about $30,038,000. Raymond James Financial Inc. purchased a new position in Powell Industries during the 4th quarter valued at about $22,556,000. Victory Capital Management Inc. lifted its position in Powell Industries by 1,119.3% during the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock valued at $21,886,000 after acquiring an additional 90,504 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Powell Industries by 795.9% during the 4th quarter. BNP Paribas Financial Markets now owns 81,819 shares of the industrial products company’s stock valued at $18,135,000 after acquiring an additional 72,686 shares during the period. 89.77% of the stock is 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.