Powell Industries (NASDAQ:POWL) Shares Gap Down - Here's Why

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $290.80, but opened at $262.00. Powell Industries shares last traded at $249.69, with a volume of 289,332 shares traded.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Roth Capital upgraded Powell Industries to a "strong-buy" rating in a research report on Tuesday, December 10th. StockNews.com cut shares of Powell Industries from a "buy" rating to a "hold" rating in a report on Wednesday, January 22nd. Finally, Roth Mkm started coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They issued a "buy" rating and a $312.00 price objective on the stock.

Powell Industries Trading Down 16.1 %

The company has a 50 day simple moving average of $256.09 and a 200 day simple moving average of $224.81. The stock has a market cap of $2.94 billion, a P/E ratio of 19.84, a PEG ratio of 1.62 and a beta of 0.88.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th were issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 0.43%. The ex-dividend date was Wednesday, November 20th. Powell Industries's payout ratio is 8.62%.

Insider Activity at Powell Industries

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now owns 677,265 shares in the company, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of POWL. Hollencrest Capital Management bought a new stake in shares of Powell Industries in the 3rd quarter valued at about $30,000. Quest Partners LLC acquired a new stake in shares of Powell Industries in the third quarter valued at approximately $35,000. Blue Trust Inc. bought a new position in shares of Powell Industries during the 4th quarter worth approximately $43,000. Farther Finance Advisors LLC increased its holdings in shares of Powell Industries by 110.5% during 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. Finally, Quarry LP bought a new stake in Powell Industries in the 2nd quarter valued at $48,000. 89.77% of the stock is currently owned by institutional investors.

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.