Powell Industries (NASDAQ:POWL) Shares Down 3.4% – Here’s Why

Shares of Powell Industries, Inc. (NASDAQ:POWL) traded down 3.4% on Monday . The stock traded as low as $275.84 and last traded at $280.00. 43,216 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 380,306 shares. The stock had previously closed at $289.88.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday.

Powell Industries Price Performance

The stock’s 50 day simple moving average is $260.58 and its two-hundred day simple moving average is $196.09. The firm has a market cap of $3.37 billion, a P/E ratio of 22.69, a P/E/G ratio of 1.47 and a beta of 0.86.

Powell Industries Announces Dividend

The company 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 dividend payout ratio is presently 8.62%.

Insider Activity

In other news, Director James W. Mcgill sold 6,600 shares of the stock in a transaction 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 completion of the sale, the director now owns 9,660 shares in the company, valued at approximately $1,795,214.40. This represents a 40.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the sale, the insider now owns 682,265 shares of the company’s stock, valued at $145,704,513.40. This trade represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,600 shares of company stock worth $15,906,386 over the last 90 days. 2.20% of the stock is currently owned by 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 POWL. Transform Wealth LLC boosted its position in Powell Industries by 25,920.5% in the second quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock valued at $240,075,000 after buying an additional 1,667,728 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Powell Industries by 2.7% in the first quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock worth $93,410,000 after buying an additional 17,177 shares during the last quarter. State Street Corp raised its position in Powell Industries by 0.9% during the third quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock valued at $80,520,000 after acquiring an additional 3,403 shares in the last quarter. American Century Companies Inc. boosted its position in Powell Industries by 15.0% in the 2nd quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after purchasing an additional 35,818 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Powell Industries by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock valued at $57,071,000 after purchasing an additional 9,692 shares in the last quarter. 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.