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

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

Analyst Ratings Changes

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

Powell Industries Price Performance

The stock has a market cap of $3.26 billion, a P/E ratio of 22.10, a PEG ratio of 1.43 and a beta of 0.86. The stock has a 50-day simple moving average of $262.79 and a 200-day simple moving average of $196.90.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 10,000 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $246.14, for a total value of $2,461,400.00. Following the completion of the transaction, the insider now directly owns 1,658,328 shares in the company, valued at approximately $408,180,853.92. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 60,000 shares of company stock valued at $14,679,842 in the last quarter. Insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. World Investment Advisors LLC acquired a new stake in Powell Industries during the 3rd quarter worth approximately $2,366,000. Sanctuary Advisors LLC acquired a new position in shares of Powell Industries during the third quarter worth $12,176,000. Invst LLC lifted its holdings in shares of Powell Industries by 18.5% during the third quarter. Invst LLC now owns 4,977 shares of the industrial products company’s stock worth $1,105,000 after purchasing an additional 776 shares during the period. Geode Capital Management LLC grew its stake in shares of Powell Industries by 3.9% in the third quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock worth $57,071,000 after purchasing an additional 9,692 shares during the last quarter. Finally, Barclays PLC increased its holdings in Powell Industries by 198.1% in the third quarter. Barclays PLC now owns 60,969 shares of the industrial products company’s stock valued at $13,536,000 after purchasing an additional 40,515 shares during the period. 89.77% of the stock is currently owned by institutional investors.

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.