Powell Industries, Inc. (NASDAQ:POWL) Plans Quarterly Dividend of $0.27

Powell Industries, Inc. (NASDAQ:POWL) declared a quarterly dividend on Tuesday, April 30th, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.265 per share by the industrial products company on Wednesday, June 12th. This represents a $1.06 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from Powell Industries’s previous quarterly dividend of $0.26.

Powell Industries has raised its dividend by an average of 0.3% annually over the last three years and has increased its dividend every year for the last 2 years. Powell Industries has a payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Powell Industries to earn $7.64 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 13.9%.

Powell Industries Stock Down 1.7 %

Shares of NASDAQ POWL traded down $2.94 during trading hours on Thursday, hitting $167.07. The company had a trading volume of 32,780 shares, compared to its average volume of 328,830. The stock has a market capitalization of $2.00 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 1.35 and a beta of 0.79. Powell Industries has a 1-year low of $45.97 and a 1-year high of $197.87. The firm’s 50 day moving average is $148.12 and its 200-day moving average is $112.20.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.75 EPS for the quarter, beating the consensus estimate of $1.89 by $0.86. Powell Industries had a return on equity of 28.91% and a net margin of 12.05%. The company had revenue of $255.10 million during the quarter, compared to the consensus estimate of $201.45 million. During the same quarter in the prior year, the firm posted $0.70 EPS. The firm’s revenue for the quarter was up 48.8% compared to the same quarter last year. On average, sell-side analysts predict that Powell Industries will post 7.54 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com cut Powell Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $174.38, for a total value of $871,900.00. Following the transaction, the insider now owns 1,688,628 shares in the company, valued at $294,462,950.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $174.38, for a total transaction of $871,900.00. Following the sale, the insider now directly owns 1,688,628 shares of the company’s stock, valued at $294,462,950.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Thomas W. Powell sold 10,000 shares of Powell Industries stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $167.46, for a total value of $1,674,600.00. Following the sale, the insider now directly owns 1,703,628 shares in the company, valued at $285,289,544.88. The disclosure for this sale can be found here. Insiders have sold a total of 30,000 shares of company stock worth $4,850,830 over the last 90 days. Insiders own 2.20% of the company’s stock.

About Powell Industries

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.