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

Powell Industries, Inc. (NASDAQ:POWL) declared a quarterly dividend on Tuesday, November 5th, Zacks reports. Stockholders of record on Wednesday, November 20th will be paid a dividend of 0.265 per share by the industrial products company on Wednesday, December 18th. This represents a $1.06 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Wednesday, November 20th.

Powell Industries has increased its dividend payment by an average of 0.3% annually over the last three years. Powell Industries has a payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Powell Industries to earn $12.44 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 8.5%.

Powell Industries Stock Down 1.8 %

Shares of NASDAQ POWL traded down $6.37 during midday trading on Thursday, hitting $341.40. The stock had a trading volume of 117,642 shares, compared to its average volume of 368,329. The business’s 50 day moving average is $224.48 and its 200-day moving average is $182.60. Powell Industries has a 52 week low of $75.05 and a 52 week high of $350.48. The company has a market cap of $4.09 billion, a P/E ratio of 32.53, a PEG ratio of 1.54 and a beta of 0.86.

Analyst Ratings Changes

Separately, StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd.

Insider Buying and Selling at Powell Industries

In other news, major shareholder Thomas W. Powell sold 2,451 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $262.10, for a total transaction of $642,407.10. Following the completion of the transaction, the insider now directly owns 1,628,328 shares of the company’s stock, valued at $426,784,768.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Brett Alan Cope sold 2,750 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $162.42, for a total transaction of $446,655.00. Following the completion of the sale, the chief executive officer now owns 145,987 shares of the company’s stock, valued at $23,711,208.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Thomas W. Powell sold 2,451 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $262.10, for a total transaction of $642,407.10. Following the completion of the transaction, the insider now owns 1,628,328 shares in the company, valued at $426,784,768.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,350 shares of company stock worth $14,614,341. 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.