Powell Industries (NASDAQ:POWL) Shares Gap Down – What’s Next?

Shares of Powell Industries, Inc. (NASDAQ:POWL) gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

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

Powell Industries Stock Performance

The business has a 50 day moving average price of $245.38 and a two-hundred day moving average price of $190.18. The stock has a market cap of $3.31 billion, a PE ratio of 25.92, a P/E/G ratio of 1.82 and a beta of 0.86.

Powell Industries Announces Dividend

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

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 25,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 682,265 shares in the company, valued at approximately $145,704,513.40. The trade was a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following 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. In the last ninety days, insiders sold 66,600 shares of company stock valued at $15,906,386. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

A number of large investors have recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp grew its stake in shares of Powell Industries by 2.2% in the first quarter. Texas Permanent School Fund Corp now owns 8,065 shares of the industrial products company’s stock worth $1,148,000 after purchasing an additional 175 shares during the last quarter. Swiss National Bank grew its position in shares of Powell Industries by 1.1% in the 1st quarter. Swiss National Bank now owns 18,900 shares of the industrial products company’s stock worth $2,689,000 after buying an additional 200 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Powell Industries by 8.7% during the first quarter. Russell Investments Group Ltd. now owns 22,190 shares of the industrial products company’s stock valued at $3,158,000 after buying an additional 1,770 shares during the period. Avantax Advisory Services Inc. bought a new position in shares of Powell Industries during the first quarter valued at approximately $321,000. Finally, ProShare Advisors LLC purchased a new stake in Powell Industries in the first quarter worth $266,000. Institutional investors own 89.77% of the company’s stock.

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.