Powell Industries (NASDAQ:POWL) Trading Down 8.8% – Time to Sell?

Shares of Powell Industries, Inc. (NASDAQ:POWL) were down 8.8% on Friday . The stock traded as low as $285.00 and last traded at $282.0810. Approximately 132,492 shares were traded during trading, a decline of 82% from the average session volume of 735,933 shares. The stock had previously closed at $309.20.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on POWL shares. Zacks Research cut Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Cantor Fitzgerald increased their price objective on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Glj Research initiated coverage on Powell Industries in a research note on Thursday, March 5th. They set a “hold” rating and a $150.00 price target for the company. Weiss Ratings upgraded Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. Finally, Wall Street Zen downgraded Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $236.67.

Powell Industries Price Performance

The business has a 50 day moving average price of $282.11 and a 200 day moving average price of $201.53. The firm has a market capitalization of $10.58 billion, a P/E ratio of 56.83, a price-to-earnings-growth ratio of 3.85 and a beta of 1.11.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The business had revenue of $296.62 million for the quarter, compared to analyst estimates of $298.12 million. During the same period in the prior year, the firm posted $3.81 EPS. Powell Industries’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts expect that Powell Industries, Inc. will post 5.47 EPS for the current year.

Powell Industries Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.1%. The ex-dividend date was Wednesday, May 20th. Powell Industries’s dividend payout ratio (DPR) is currently 7.05%.

Insider Activity at Powell Industries

In other news, Director Richard E. Williams sold 5,250 shares of Powell Industries stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $299.19, for a total transaction of $1,570,747.50. Following the sale, the director owned 39,630 shares of the company’s stock, valued at approximately $11,856,899.70. This trade represents a 11.70% 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 Alan Cope sold 4,440 shares of Powell Industries stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $233.96, for a total value of $1,038,782.40. Following the sale, the chief executive officer directly owned 164,851 shares in the company, valued at $38,568,539.96. The trade was a 2.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,630 shares of company stock worth $6,339,195 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

A number of institutional investors have recently bought and sold shares of POWL. Greenline Wealth Management LLC acquired a new position in shares of Powell Industries in the 4th quarter valued at $29,000. Avanza Fonder AB acquired a new position in Powell Industries in the fourth quarter worth about $30,000. State of Wyoming acquired a new position in Powell Industries in the second quarter worth about $33,000. Steward Partners Investment Advisory LLC lifted its stake in Powell Industries by 126.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 63 shares during the period. Finally, First Horizon Corp bought a new position in Powell Industries during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

About Powell Industries

Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.

Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.