Powell Industries (NASDAQ:POWL) Trading Down 4.8% – Here’s What Happened

Powell Industries, Inc. (NASDAQ:POWL)’s stock price dropped 4.8% during mid-day trading on Monday . The stock traded as low as $233.85 and last traded at $234.07. Approximately 190,321 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 388,758 shares. The stock had previously closed at $245.80.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Powell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Roth Capital raised Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, Roth Mkm started coverage on Powell Industries in a research report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 target price for the company.

Powell Industries Trading Down 0.7 %

The company has a market cap of $2.80 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 1.31 and a beta of 0.85. The company’s fifty day moving average is $275.68 and its 200 day moving average is $208.99.

Powell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were paid a dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.46%. Powell Industries’s dividend payout ratio (DPR) is currently 8.62%.

Insider Activity

In other 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 transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 35,000 shares of company stock valued at $9,340,842. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

Several institutional investors have recently added to or reduced their stakes in POWL. Hollencrest Capital Management purchased a new position in shares of Powell Industries in the third quarter valued at about $30,000. Quest Partners LLC bought a new stake in shares of Powell Industries in the third quarter worth about $35,000. Farther Finance Advisors LLC increased its holdings in Powell Industries by 110.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 105 shares during the period. Picton Mahoney Asset Management bought a new position in Powell Industries during the 2nd quarter valued at approximately $47,000. Finally, Quarry LP purchased a new stake in Powell Industries in the 2nd quarter worth approximately $48,000. Hedge funds and other 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.