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

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

Analysts Set New Price Targets

Several research analysts have commented on the company. Roth Capital upgraded 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 report on Wednesday. Finally, Roth Mkm assumed coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price on the stock.

Powell Industries Stock Performance

The firm’s 50 day moving average is $256.94 and its 200 day moving average is $221.42. The stock has a market cap of $3.57 billion, a P/E ratio of 24.11, a price-to-earnings-growth ratio of 1.51 and a beta of 0.88.

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.265 per share. The ex-dividend date 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%.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the company’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 transaction 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 represents a 0.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Powell Industries

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