Powell Industries (NASDAQ:POWL) Shares Down 5.9% – What’s Next?

Shares of Powell Industries, Inc. (NASDAQ:POWL) dropped 5.9% on Thursday . The stock traded as low as $226.00 and last traded at $226.19. Approximately 128,658 shares traded hands during trading, a decline of 72% from the average daily volume of 460,607 shares. The stock had previously closed at $240.50.

Analysts Set New Price Targets

Several equities research analysts have commented on POWL shares. Roth Mkm assumed coverage on Powell Industries in a research report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price objective on the stock. StockNews.com downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th.

Powell Industries Stock Performance

The company has a 50 day moving average price of $254.18 and a two-hundred day moving average price of $225.59. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 1.62 and a beta of 0.88.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were paid a dividend of $0.265 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.45%. Powell Industries’s dividend payout ratio is currently 8.62%.

Insider Buying and Selling at Powell Industries

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $347.74, for a total transaction 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. The trade was a 0.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP purchased a new stake in shares of Powell Industries during the 3rd quarter valued at approximately $30,038,000. Victory Capital Management Inc. raised its holdings in Powell Industries by 1,119.3% in the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock valued at $21,886,000 after buying an additional 90,504 shares during the period. WCM Investment Management LLC acquired a new position in Powell Industries in the fourth quarter valued at about $14,261,000. Stephens Investment Management Group LLC acquired a new stake in shares of Powell Industries during the third quarter valued at about $13,606,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Powell Industries in the 3rd quarter valued at approximately $12,176,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

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.