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

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

Analysts Set New Price Targets

POWL has been the subject of a number of research analyst reports. Roth Mkm started coverage on shares of Powell Industries in a report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price objective for the company. StockNews.com downgraded Powell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Roth Capital upgraded Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th.

Powell Industries Trading Down 5.3 %

The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.31 and a beta of 0.85. The company has a fifty day moving average price of $276.96 and a 200-day moving average price of $207.94.

Powell Industries Dividend Announcement

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

Insider Activity at Powell Industries

In other news, major shareholder Thomas W. Powell sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total value of $5,339,000.00. Following the completion of the sale, the insider now directly owns 682,265 shares in the company, valued at $145,704,513.40. This represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 60,000 shares of company stock valued at $14,679,842. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Powell Industries

Hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Powell Industries by 5.7% in the 3rd quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company’s stock valued at $11,434,000 after purchasing an additional 2,793 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Powell Industries in the 3rd quarter valued at about $1,361,000. Franklin Resources Inc. lifted its position in Powell Industries by 2.5% in the third quarter. Franklin Resources Inc. now owns 20,098 shares of the industrial products company’s stock valued at $4,462,000 after buying an additional 497 shares during the last quarter. World Investment Advisors LLC purchased a new position in Powell Industries during the third quarter worth about $2,366,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Powell Industries during the third quarter valued at about $12,176,000. Hedge funds and other 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.