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

Shares of Powell Industries, Inc. (NASDAQ:POWL) were down 3.4% on Monday . The stock traded as low as $275.84 and last traded at $280.00. Approximately 43,216 shares were traded 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.

Wall Street Analyst Weigh In

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

Powell Industries Stock Performance

The business’s 50 day moving average price is $260.58 and its 200-day moving average price is $196.09. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 0.38%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s payout ratio is currently 8.62%.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was 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 in the company, valued at approximately $235,512,131.10. This represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James W. Mcgill sold 6,600 shares of the firm’s 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. The trade was a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,600 shares of company stock valued at $15,906,386 over the last three months. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

Institutional investors have recently modified their holdings of the business. Hollencrest Capital Management acquired a new stake in shares of Powell Industries during the third quarter valued at about $30,000. Quest Partners LLC bought a new stake in Powell Industries during the third quarter worth $35,000. Farther Finance Advisors LLC increased its holdings in Powell Industries by 110.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 105 shares during the last quarter. Covestor Ltd grew its stake in Powell Industries by 21.8% in the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock valued at $51,000 after buying an additional 41 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Powell Industries by 38.2% in the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 79 shares during the period. 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.