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

Shares of Powell Industries, Inc. (NASDAQ:POWL) gapped down prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a report on Friday.

Powell Industries Trading Down 7.3 %

The firm’s fifty day simple moving average is $247.95 and its two-hundred day simple moving average is $191.41. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 1.82 and a beta of 0.86.

Powell Industries Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s dividend payout ratio is presently 9.92%.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries 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 completion of the sale, the insider now directly owns 677,265 shares in the company, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 9,660 shares in the company, valued at approximately $1,795,214.40. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,600 shares of company stock worth $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 institutional investors have recently modified their holdings of the company. Transform Wealth LLC lifted its stake in Powell Industries by 25,920.5% during the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock worth $240,075,000 after acquiring an additional 1,667,728 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Powell Industries by 2.7% during the first quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock worth $93,410,000 after purchasing an additional 17,177 shares in the last quarter. State Street Corp boosted its stake in shares of Powell Industries by 0.9% in the third quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock valued at $80,520,000 after purchasing an additional 3,403 shares during the period. American Century Companies Inc. grew its holdings in shares of Powell Industries by 15.0% in the second quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock valued at $39,347,000 after purchasing an additional 35,818 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings 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 valued at $57,071,000 after purchasing an additional 9,692 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

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.