Powell Industries (NASDAQ:POWL) Shares Down 6.2% – What’s Next?

Powell Industries, Inc. (NASDAQ:POWL) shares dropped 6.2% during trading on Wednesday . The company 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 Analyst Weigh In

POWL has been the topic of a number of recent research reports. Roth Mkm initiated coverage on Powell Industries in a research note on Wednesday, December 11th. They set a “buy” rating and a $312.00 price objective on the stock. StockNews.com cut Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Roth Capital upgraded Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th.

Powell Industries Price Performance

The stock has a market capitalization of $2.34 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 1.11 and a beta of 0.87. The company has a fifty day moving average of $240.62 and a two-hundred day moving average of $234.32.

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, beating the consensus estimate of $2.83 by $0.03. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. As a group, equities research analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current fiscal 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 issued a dividend of $0.2675 per share. The ex-dividend date is Wednesday, February 19th. This is a positive change from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.07 annualized dividend and a dividend yield of 0.55%. Powell Industries’s dividend payout ratio is 8.05%.

Hedge Funds Weigh In On Powell Industries

Several institutional investors have recently made changes to their positions in POWL. Invesco Ltd. grew its holdings in shares of Powell Industries by 134.0% during the fourth quarter. Invesco Ltd. now owns 265,139 shares of the industrial products company’s stock valued at $58,768,000 after purchasing an additional 151,850 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Powell Industries during the third quarter valued at approximately $30,038,000. Raymond James Financial Inc. bought a new position in shares of Powell Industries during the fourth quarter valued at approximately $22,556,000. Victory Capital Management Inc. grew its holdings in shares of Powell Industries by 1,119.3% during the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock valued at $21,886,000 after purchasing an additional 90,504 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Powell Industries by 795.9% during the fourth quarter. BNP Paribas Financial Markets now owns 81,819 shares of the industrial products company’s stock valued at $18,135,000 after purchasing an additional 72,686 shares during the last quarter. 89.77% of the stock is owned by 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.