Powell Industries (NASDAQ:POWL) Shares Gap Down – Should You Sell?

Powell Industries, Inc. (NASDAQ:POWL) shares gapped down prior to trading on Friday . The stock had previously closed at $300.51, but opened at $290.85. Powell Industries shares last traded at $288.50, with a volume of 116,558 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Friday.

Powell Industries Stock Performance

The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 1.82 and a beta of 0.86. The business has a fifty day simple moving average of $245.38 and a 200 day simple moving average of $190.18.

Powell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 0.38%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is 9.92%.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the transaction, the insider now directly owns 682,265 shares of the company’s stock, valued at $145,704,513.40. This trade represents a 3.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the completion of the transaction, the director now directly owns 9,660 shares in the company, valued at $1,795,214.40. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,600 shares of company stock valued at $15,906,386 in the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in POWL. HighTower Advisors LLC bought a new position in shares of Powell Industries in the 3rd quarter valued at $1,805,000. Rockefeller Capital Management L.P. bought a new stake in Powell Industries during the 3rd quarter worth approximately $10,760,000. Cynosure Group LLC bought a new position in Powell Industries during the 3rd quarter worth $439,000. BNP Paribas Financial Markets lifted its position in shares of Powell Industries by 74.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,133 shares of the industrial products company’s stock worth $2,027,000 after purchasing an additional 3,897 shares during the period. Finally, Private Trust Co. NA boosted its position in shares of Powell Industries by 31.7% during the 3rd quarter. Private Trust Co. NA now owns 3,590 shares of the industrial products company’s stock valued at $797,000 after purchasing an additional 865 shares in the last quarter. Institutional investors 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.