Powell Industries (NASDAQ:POWL) Trading Down 4.8% – Should You Sell?

Powell Industries, Inc. (NASDAQ:POWL) shares were down 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 changed 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.

Wall Street Analysts Forecast Growth

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

Powell Industries Stock Down 0.7 %

The firm has a 50-day simple moving average of $275.68 and a 200-day simple moving average of $208.99. The stock has a market cap of $2.80 billion, a PE ratio of 18.93, a P/E/G ratio of 1.31 and a beta of 0.85.

Powell Industries Announces Dividend

The business also recently announced 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. This represents a $1.06 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Wednesday, November 20th. Powell Industries’s payout ratio is presently 8.62%.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 17,549 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $256.33, for a total transaction of $4,498,335.17. Following the sale, the insider now owns 1,630,779 shares of the company’s stock, valued at approximately $418,017,581.07. This represents a 1.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 35,000 shares of company stock worth $9,340,842 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Raymond James & Associates grew its position in Powell Industries by 39.3% during the second quarter. Raymond James & Associates now owns 17,891 shares of the industrial products company’s stock worth $2,566,000 after buying an additional 5,052 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Powell Industries by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock worth $14,271,000 after purchasing an additional 1,015 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Powell Industries by 77.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 11,888 shares of the industrial products company’s stock worth $1,705,000 after purchasing an additional 5,201 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Powell Industries by 42.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,344 shares of the industrial products company’s stock valued at $336,000 after purchasing an additional 693 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its position in Powell Industries by 11.0% during the second quarter. Panagora Asset Management Inc. now owns 40,858 shares of the industrial products company’s stock valued at $5,859,000 after purchasing an additional 4,054 shares during the last quarter. 89.77% of the stock is currently owned by hedge funds and other 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.