Powell Industries (NASDAQ:POWL) Shares Gap Down – Time to Sell?

Powell Industries, Inc. (NASDAQ:POWL)’s stock price 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 shares of Powell Industries from a “hold” rating to a “buy” rating in a report on Friday.

Powell Industries Stock Performance

The stock has a 50 day moving average of $247.95 and a 200-day moving average of $191.41. The company has a market cap of $3.34 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 1.82 and a beta of 0.86.

Powell Industries Announces Dividend

The company also recently disclosed 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. This represents a $1.06 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s payout ratio is 9.92%.

Insider Buying and Selling

In related news, Director James W. Mcgill sold 6,600 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 9,660 shares of the company’s stock, valued at $1,795,214.40. This trade represents a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $347.74, for a total value of $1,738,700.00. Following the transaction, the insider now owns 677,265 shares of the company’s stock, valued at approximately $235,512,131.10. This represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,600 shares of company stock valued at $15,906,386 over the last quarter. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Powell Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in POWL. Covestor Ltd grew its position in Powell Industries by 21.8% during the third quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock valued at $51,000 after buying an additional 41 shares during the period. Chartwell Investment Partners LLC increased its holdings in Powell Industries by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock worth $1,712,000 after acquiring an additional 60 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 79 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Powell Industries by 110.5% during the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 105 shares in the last quarter. Finally, Diversified Trust Co raised its position in shares of Powell Industries by 7.1% during the 3rd quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock worth $385,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds 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.