Powell Industries (NASDAQ:POWL) Trading Down 6.2% - Here's Why

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) fell 6.2% during mid-day trading on Wednesday . The company traded as low as $196.17 and last traded at $195.46. 261,439 shares were traded during trading, a decline of 48% from the average session volume of 504,123 shares. The stock had previously closed at $208.30.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on POWL. Roth Mkm started coverage on shares of Powell Industries in a report on Wednesday, December 11th. They issued a "buy" rating and a $312.00 price objective on the stock. Roth Capital upgraded Powell Industries to a "strong-buy" rating in a research note on Tuesday, December 10th. Finally, StockNews.com cut Powell Industries from a "buy" rating to a "hold" rating in a research note on Saturday, February 15th.

Powell Industries Stock Performance

The company has a market capitalization of $2.14 billion, a PE ratio of 13.46, a P/E/G ratio of 1.01 and a beta of 0.87. The company's 50-day moving average is $236.27 and its 200 day moving average is $233.90.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.03. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. On average, analysts forecast that Powell Industries, Inc. will post 13.71 EPS for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th will be issued a $0.2675 dividend. This is a positive change from Powell Industries's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.60%. Powell Industries's dividend payout ratio (DPR) is presently 8.12%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Invesco Ltd. increased its holdings in Powell Industries by 134.0% in the 4th quarter. Invesco Ltd. now owns 265,139 shares of the industrial products company's stock worth $58,768,000 after buying an additional 151,850 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Powell Industries during the 3rd quarter valued at about $30,038,000. Raymond James Financial Inc. bought a new stake in shares of Powell Industries in the fourth quarter worth approximately $22,556,000. Victory Capital Management Inc. raised 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 raised 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. Hedge funds and other institutional investors own 89.77% 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.