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

Powell Industries, Inc. (NASDAQ:POWL) declared a quarterly dividend on Tuesday, July 30th, Zacks reports. Stockholders of record on Wednesday, August 14th will be given a dividend of 0.265 per share by the industrial products company on Wednesday, September 18th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Wednesday, August 14th.

Powell Industries has increased its dividend by an average of 0.3% per year over the last three years. Powell Industries has a payout ratio of 11.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Powell Industries to earn $9.28 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 11.4%.

Powell Industries Stock Down 0.3 %

Shares of POWL stock opened at $183.06 on Thursday. The firm has a market capitalization of $2.19 billion, a P/E ratio of 21.81, a P/E/G ratio of 1.05 and a beta of 0.88. Powell Industries has a twelve month low of $72.51 and a twelve month high of $209.14. The stock’s fifty day simple moving average is $157.00 and its 200 day simple moving average is $146.54.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $1.63. The business had revenue of $288.17 million for the quarter, compared to analyst estimates of $222.18 million. Powell Industries had a return on equity of 34.63% and a net margin of 13.77%. Powell Industries’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 EPS. As a group, equities research analysts expect that Powell Industries will post 9.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a research report on Thursday, June 6th.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $205.87, for a total value of $4,117,400.00. Following the sale, the insider now owns 1,668,628 shares in the company, valued at approximately $343,520,446.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Thomas W. Powell sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $205.87, for a total transaction of $4,117,400.00. Following the sale, the insider now owns 1,668,628 shares in the company, valued at approximately $343,520,446.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brett Alan Cope sold 2,750 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $142.31, for a total value of $391,352.50. Following the sale, the chief executive officer now owns 148,737 shares in the company, valued at approximately $21,166,762.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,650 shares of company stock worth $6,472,034. 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.