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

Powell Industries, Inc. (NASDAQ:POWL) announced a quarterly dividend on Tuesday, February 4th,RTT News reports. Stockholders of record on Wednesday, February 19th will be paid a dividend of 0.2675 per share by the industrial products company on Wednesday, March 19th. This represents a $1.07 annualized dividend and a dividend yield of 0.44%. This is a positive change 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. Research 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 Up 4.1 %

NASDAQ POWL traded up $9.58 during trading hours on Wednesday, reaching $242.72. 42,462 shares of the company were exchanged, compared to its average volume of 470,491. Powell Industries has a 1 year low of $122.00 and a 1 year high of $364.98. The business’s 50 day simple moving average is $250.48 and its 200-day simple moving average is $229.03. The stock has a market capitalization of $2.93 billion, a P/E ratio of 19.72, a P/E/G ratio of 1.25 and a beta of 0.87.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research report 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 lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 22nd.

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 677,265 shares in the company, valued at approximately $235,512,131.10. This represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.20% 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.