Powell Industries (NASDAQ:POWL) Stock Price Down 5.5% – Should You Sell?

Shares of Powell Industries, Inc. (NASDAQ:POWL) fell 5.5% during mid-day trading on Tuesday . The stock traded as low as $236.35 and last traded at $238.63. 110,968 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 384,338 shares. The stock had previously closed at $252.57.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com lowered Powell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. Roth Mkm initiated coverage on shares of Powell Industries in a research note on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price target for the company. Finally, Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th.

Powell Industries Stock Performance

The business has a 50-day moving average of $277.38 and a 200-day moving average of $206.48. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.31 and a beta of 0.85.

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th were paid a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a yield of 0.44%. Powell Industries’s dividend payout ratio is presently 8.62%.

Insider Activity at Powell Industries

In other news, major shareholder Thomas W. Powell sold 25,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 682,265 shares in the company, valued at $145,704,513.40. This trade represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 60,000 shares of company stock worth $14,679,842 in the last quarter. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new stake in Powell Industries in the 3rd quarter valued at approximately $30,038,000. Victory Capital Management Inc. boosted its stake in shares of Powell Industries by 1,119.3% during the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock valued at $21,886,000 after acquiring an additional 90,504 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Powell Industries during the 2nd quarter worth about $11,658,000. Stephens Investment Management Group LLC acquired a new position in Powell Industries in the 3rd quarter valued at about $13,606,000. Finally, Sanctuary Advisors LLC purchased a new position in Powell Industries in the 3rd quarter valued at about $12,176,000. Institutional investors and hedge funds 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.