Powell Industries, Inc. (NASDAQ:POWL) Raises Dividend to $0.27 Per Share

Powell Industries, Inc. (NASDAQ:POWL) declared a quarterly dividend on Tuesday, February 4th,RTT News reports. Investors of record on Wednesday, February 19th will be given a dividend of 0.2675 per share by the industrial products company on Wednesday, March 19th. This represents a $1.07 dividend on an annualized basis and a yield of 0.46%. This is a boost from Powell Industries’s previous quarterly dividend of $0.27.

Powell Industries has increased its dividend payment by an average of 0.6% per year over the last three years. Powell Industries has a payout ratio of 7.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Powell Industries to earn $14.80 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 7.2%.

Powell Industries Stock Down 1.1 %

Shares of NASDAQ POWL traded down $2.66 during trading on Tuesday, reaching $233.14. The company had a trading volume of 435,401 shares, compared to its average volume of 489,906. Powell Industries has a 12-month low of $119.61 and a 12-month high of $364.98. The business’s 50-day moving average is $251.25 and its 200 day moving average is $228.33. The stock has a market cap of $2.81 billion, a PE ratio of 18.97, a P/E/G ratio of 1.25 and a beta of 0.87.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $347.74, for a total value of $1,738,700.00. Following the sale, the insider now owns 677,265 shares in the company, valued at approximately $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on POWL shares. Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. Roth Mkm began coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price target for the company. Finally, StockNews.com cut Powell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 22nd.

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.