Powell Industries (NASDAQ:POWL) Shares Down 7.1% – Time to Sell?

Shares of Powell Industries, Inc. (NASDAQ:POWL) dropped 7.1% on Monday . The company traded as low as $161.23 and last traded at $164.17. Approximately 79,322 shares changed hands during trading, a decline of 81% from the average daily volume of 425,801 shares. The stock had previously closed at $176.72.

Analysts Set New Price Targets

A number of research analysts have issued reports on POWL shares. Roth Mkm started coverage on Powell Industries in a research note on Wednesday, December 11th. They set a “buy” rating and a $312.00 price objective for the company. Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th.

Powell Industries Stock Performance

The firm has a 50-day moving average of $199.77 and a 200-day moving average of $236.15. The firm has a market capitalization of $2.12 billion, a P/E ratio of 13.36, a PEG ratio of 0.98 and a beta of 0.83.

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

Powell Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 19th were issued a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Wednesday, February 19th. This is an increase from Powell Industries’s previous quarterly dividend of $0.27. Powell Industries’s dividend payout ratio (DPR) is presently 8.12%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hanseatic Management Services Inc. purchased a new stake in Powell Industries during the 4th quarter valued at $248,000. Merit Financial Group LLC increased its position in Powell Industries by 103.9% during the fourth quarter. Merit Financial Group LLC now owns 4,922 shares of the industrial products company’s stock valued at $1,091,000 after acquiring an additional 2,508 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in Powell Industries in the third quarter valued at about $10,760,000. Bay Rivers Group grew its stake in shares of Powell Industries by 105.4% during the 4th quarter. Bay Rivers Group now owns 2,294 shares of the industrial products company’s stock valued at $508,000 after purchasing an additional 1,177 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Powell Industries by 101.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 26,858 shares of the industrial products company’s stock valued at $5,962,000 after purchasing an additional 13,531 shares during the period. Institutional investors own 89.77% 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.