Powell Industries (NASDAQ:POWL) Shares Up 7% After Dividend Announcement

Shares of Powell Industries, Inc. (NASDAQ:POWL) shot up 7% on Wednesday following a dividend announcement from the company. The company traded as high as $250.03 and last traded at $249.46. 143,102 shares were traded during mid-day trading, a decline of 70% from the average session volume of 474,117 shares. The stock had previously closed at $233.14.

The newly announced dividend which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th will be paid a $0.2675 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 annualized dividend and a yield of 0.44%. Powell Industries’s payout ratio is currently 8.62%.

Analyst Ratings Changes

A number of research firms have issued reports on POWL. Roth Mkm began coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price objective on the stock. Roth Capital upgraded 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 Wednesday, January 22nd.

Powell Industries Stock Down 0.0 %

The firm has a market cap of $2.95 billion, a PE ratio of 19.92, a PEG ratio of 1.25 and a beta of 0.87. The stock’s fifty day simple moving average is $249.78 and its two-hundred day simple moving average is $229.25.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.83 by $0.03. Powell Industries had a net margin of 14.80% and a return on equity of 35.68%. On average, equities research analysts anticipate that Powell Industries, Inc. will post 13.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Powell Industries in the fourth quarter worth approximately $22,556,000. Proficio Capital Partners LLC bought a new position in shares of Powell Industries in the fourth quarter worth approximately $3,095,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Powell Industries by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,482 shares of the industrial products company’s stock worth $20,942,000 after buying an additional 637 shares in the last quarter. Plato Investment Management Ltd lifted its position in Powell Industries by 167.3% during the fourth quarter. Plato Investment Management Ltd now owns 572 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 358 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Powell Industries during the fourth quarter valued at approximately $57,000. Institutional investors own 89.77% 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.