Powell Industries (NASDAQ:POWL) Shares Down 4.7% – Time to Sell?

Shares of Powell Industries, Inc. (NASDAQ:POWL) dropped 4.7% during mid-day trading on Thursday . The stock traded as low as $292.00 and last traded at $296.73. Approximately 90,112 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 408,515 shares. The stock had previously closed at $311.38.

Wall Street Analyst Weigh In

A number of equities analysts have commented on POWL shares. Roth Capital raised Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. StockNews.com downgraded Powell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Roth Mkm initiated coverage on shares of Powell Industries in a research note on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price on the stock.

Powell Industries Trading Up 0.1 %

The stock’s fifty day simple moving average is $256.99 and its 200 day simple moving average is $222.91. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 1.62 and a beta of 0.88.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th were issued a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.36%. Powell Industries’s dividend payout ratio is presently 8.62%.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the transaction, the insider now directly owns 677,265 shares of the company’s stock, valued at $235,512,131.10. The trade was a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Powell Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in Powell Industries in the third quarter worth approximately $30,000. Quest Partners LLC purchased a new position in shares of Powell Industries during the 3rd quarter worth $35,000. Blue Trust Inc. acquired a new stake in shares of Powell Industries during the 4th quarter worth about $43,000. Farther Finance Advisors LLC raised its holdings in Powell Industries by 110.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after buying an additional 105 shares during the period. Finally, Quarry LP acquired a new position in Powell Industries in the second quarter valued at about $48,000. Institutional investors and hedge funds 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.