Powell Industries (NASDAQ:POWL) Shares Down 4.7% – Here’s What Happened

Powell Industries, Inc. (NASDAQ:POWL) was down 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 were traded during trading, a decline of 78% from the average daily volume of 408,515 shares. The stock had previously closed at $311.38.

Wall Street Analysts Forecast Growth

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

Powell Industries Stock Down 4.9 %

The stock has a market capitalization of $3.57 billion, a PE ratio of 24.11, a PEG ratio of 1.51 and a beta of 0.88. The stock’s 50 day moving average price is $256.94 and its 200-day moving average price is $221.42.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th were issued 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 yield of 0.36%. Powell Industries’s dividend payout ratio is presently 8.62%.

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 677,265 shares of the company’s stock, valued at approximately $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Powell Industries

Large investors have recently made changes to their positions in the company. Hollencrest Capital Management purchased a new stake in shares of Powell Industries during the 3rd quarter worth approximately $30,000. Quest Partners LLC purchased a new stake in Powell Industries during the third quarter valued at $35,000. Blue Trust Inc. bought a new position in Powell Industries during the fourth quarter valued at $43,000. Farther Finance Advisors LLC grew its stake in shares of Powell Industries by 110.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after buying an additional 105 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Powell Industries in the 2nd quarter worth about $48,000. 89.77% of the stock is owned by institutional investors.

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.