Powell Industries (NASDAQ:POWL) Shares Down 13.4% – Time to Sell?

Powell Industries, Inc. (NASDAQ:POWL) traded down 13.4% during trading on Wednesday. The company traded as low as $141.06 and last traded at $141.50. Approximately 461,245 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 718,238 shares. The stock had previously closed at $163.34.

Wall Street Analyst Weigh In

POWL has been the subject of a number of research reports. Weiss Ratings cut shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. lowered their price target on Powell Industries from $300.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $235.00 price target on shares of Powell Industries in a research report on Thursday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Powell Industries has an average rating of “Moderate Buy” and an average target price of $187.92.

Powell Industries Price Performance

The company has a 50 day moving average price of $176.22 and a 200 day moving average price of $212.17. The firm has a market cap of $4.85 billion, a PE ratio of 25.55, a PEG ratio of 1.49 and a beta of 1.25.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The firm had revenue of $311.74 million during the quarter, compared to analysts’ expectations of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business earned $3.96 earnings per share. On average, equities analysts anticipate that Powell Industries, Inc. will post 5.36 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, November 18th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, November 18th. Powell Industries’s payout ratio is 6.91%.

Insider Buying and Selling

In other Powell Industries news, VP William Marshall Mauney, Jr. sold 301 shares of Powell Industries stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $187.67, for a total value of $56,488.67. Following the sale, the vice president owned 10,552 shares of the company’s stock, valued at approximately $1,980,293.84. The trade was a 2.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett Cope sold 4,799 shares of Powell Industries stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $187.67, for a total value of $900,628.33. Following the completion of the sale, the chief executive officer directly owned 507,934 shares in the company, valued at $95,323,973.78. This represents a 0.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,800 shares of company stock valued at $1,074,115 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

A number of large investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Powell Industries by 229.2% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 81,723 shares of the industrial products company’s stock worth $23,402,000 after acquiring an additional 56,901 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Powell Industries during the second quarter valued at $2,623,000. Tidal Investments LLC boosted its stake in shares of Powell Industries by 222.3% during the second quarter. Tidal Investments LLC now owns 282,483 shares of the industrial products company’s stock valued at $80,892,000 after acquiring an additional 194,840 shares during the last quarter. Ausbil Investment Management Ltd boosted its stake in shares of Powell Industries by 133.4% during the third quarter. Ausbil Investment Management Ltd now owns 15,682 shares of the industrial products company’s stock valued at $2,893,000 after acquiring an additional 8,963 shares during the last quarter. Finally, Private Advisory Group LLC purchased a new stake in Powell Industries during the 2nd quarter worth about $14,158,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

About Powell Industries

Powell Industries, Inc is a Houston-based manufacturer of custom-engineered electrical equipment and systems used to control, distribute and monitor electrical power. The company serves industrial and utility customers that require equipment designed for demanding operating environments, including facilities with high-voltage, hazardous or highly regulated applications.

Its product portfolio includes medium- and high-voltage metal-clad switchgear, motor control centers, electrical houses and enclosures, control panels, switchboards, bus systems and related protection and control equipment.