Powell Industries (NASDAQ:POWL) Shares Gap Down - What's Next?

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $244.84, but opened at $230.05. Powell Industries shares last traded at $239.05, with a volume of 160,556 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on POWL shares. Roth Mkm started coverage on Powell Industries in a report on Wednesday, December 11th. They issued a "buy" rating and a $312.00 price target on the stock. Roth Capital upgraded Powell Industries to a "strong-buy" rating in a report on Tuesday, December 10th. Finally, StockNews.com upgraded Powell Industries from a "hold" rating to a "buy" rating in a report on Friday.

Powell Industries Stock Down 3.4 %

The firm has a market cap of $2.56 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 1.28 and a beta of 0.87. The firm has a fifty day moving average of $247.91 and a 200-day moving average of $231.78.

Powell Industries (NASDAQ:POWL - Get Free Report) last released 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 return on equity of 36.66% and a net margin of 15.15%. On average, equities analysts forecast that Powell Industries, Inc. will post 13.7 EPS for the current year.

Powell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th will be given a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.50%. This is a boost from Powell Industries's previous quarterly dividend of $0.27. The ex-dividend date is Wednesday, February 19th. Powell Industries's dividend payout ratio (DPR) is presently 8.05%.

Institutional Trading of Powell Industries

A number of hedge funds have recently made changes to their positions in POWL. Wellington Management Group LLP acquired a new stake in shares of Powell Industries in the third quarter valued at approximately $30,038,000. Raymond James Financial Inc. acquired a new stake in shares of Powell Industries in the fourth quarter valued at approximately $22,556,000. Victory Capital Management Inc. lifted its position in shares of Powell Industries by 1,119.3% in 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 buying an additional 90,504 shares during the last quarter. WCM Investment Management LLC bought a new position in shares of Powell Industries during the fourth quarter worth approximately $14,261,000. Finally, Stephens Investment Management Group LLC bought a new position in shares of Powell Industries during the third quarter worth approximately $13,606,000. 89.77% of the stock is owned by institutional investors and hedge funds.

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.