Powell Industries, Inc. Plans Quarterly Dividend of $0.09 (NASDAQ:POWL)

Powell Industries, Inc. (NASDAQ:POWL) declared a quarterly dividend on Monday, August 3rd. Investors of record on Wednesday, August 19th will be given a dividend of 0.09 per share by the industrial products company on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th.

Powell Industries has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 3 years. Powell Industries has a dividend payout ratio of 2.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Powell Industries to earn $6.66 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 5.4%.

Powell Industries Trading Up 5.3%

POWL opened at $219.72 on Tuesday. The company has a market cap of $8.00 billion, a P/E ratio of 43.00, a price-to-earnings-growth ratio of 2.73 and a beta of 1.18. The company has a fifty day moving average price of $262.80 and a two-hundred day moving average price of $224.69. Powell Industries has a 1-year low of $69.00 and a 1-year high of $328.00.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). Powell Industries had a net margin of 16.51% and a return on equity of 28.61%. The firm had revenue of $311.74 million during the quarter, compared to analyst estimates of $316.70 million. During the same period last year, the business posted $3.96 EPS. The company’s revenue was up 8.9% on a year-over-year basis. On average, research analysts forecast that Powell Industries will post 5.47 EPS for the current fiscal year.

Insider Activity at Powell Industries

In other news, VP William Marshall Mauney, Jr. sold 2,500 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $323.69, for a total transaction of $809,225.00. Following the transaction, the vice president directly owned 10,853 shares in the company, valued at approximately $3,513,007.57. This represents a 18.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brett Alan Cope sold 4,440 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $241.55, for a total value of $1,072,482.00. Following the transaction, the chief executive officer directly owned 517,233 shares in the company, valued at approximately $124,937,631.15. This represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 55,088 shares of company stock worth $16,070,066 in the last three months. 2.20% of the stock is owned by insiders.

Institutional Trading of Powell Industries

Several large investors have recently modified their holdings of POWL. Tema ETFs LLC increased its position in Powell Industries by 217.3% during the 2nd quarter. Tema ETFs LLC now owns 268,692 shares of the industrial products company’s stock valued at $76,943,000 after purchasing an additional 184,010 shares during the period. Ausbil Investment Management Ltd increased its position in shares of Powell Industries by 74.2% during the second quarter. Ausbil Investment Management Ltd now owns 6,719 shares of the industrial products company’s stock valued at $1,780,000 after buying an additional 2,863 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Powell Industries by 97.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,875 shares of the industrial products company’s stock worth $537,000 after buying an additional 925 shares in the last quarter. Bay Rivers Group lifted its holdings in Powell Industries by 199.1% in the second quarter. Bay Rivers Group now owns 5,988 shares of the industrial products company’s stock worth $1,715,000 after buying an additional 3,986 shares during the period. Finally, Steadtrust LLC boosted its position in Powell Industries by 199.1% during the 2nd quarter. Steadtrust LLC now owns 6,835 shares of the industrial products company’s stock valued at $1,957,000 after acquiring an additional 4,550 shares in the last quarter. 89.77% of the stock is owned by institutional investors.

Powell Industries Company Profile

Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.

Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.