Powell Industries, Inc. (NASDAQ:POWL) Announces Dividend Increase – $0.27 Per Share

Powell Industries, Inc. (NASDAQ:POWL) declared a quarterly dividend on Tuesday, February 4th,RTT News reports. Shareholders of record on Wednesday, February 19th will be given a dividend of 0.2675 per share by the industrial products company on Wednesday, March 19th. This represents a $1.07 annualized dividend and a dividend yield of 0.46%. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27.

Powell Industries has raised its dividend payment by an average of 0.6% annually over the last three years. Powell Industries has a payout ratio of 7.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Powell Industries to earn $14.80 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 7.2%.

Powell Industries Price Performance

Shares of POWL stock traded down $2.66 during trading hours on Tuesday, hitting $233.14. The stock had a trading volume of 435,401 shares, compared to its average volume of 489,906. The stock’s 50-day moving average price is $251.25 and its two-hundred day moving average price is $228.33. Powell Industries has a one year low of $119.61 and a one year high of $364.98. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.25 and a beta of 0.87.

Analysts Set New Price Targets

POWL has been the topic of several recent research reports. StockNews.com cut Powell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, Roth Mkm began coverage on shares of Powell Industries in a research note on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price objective for the company.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the sale, the insider now owns 677,265 shares of the company’s stock, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.20% of the company’s stock.

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.