Powell Industries (NASDAQ:POWL) Shares Gap Down - Should You Sell?

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) shares gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Powell Industries from a "hold" rating to a "buy" rating in a research note on Friday.

Powell Industries Trading Down 7.3 %

The firm has a market cap 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. The stock has a 50-day moving average of $247.95 and a 200-day moving average of $191.07.

Powell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be given a $0.265 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 annualized dividend and a yield of 0.38%. Powell Industries's dividend payout ratio is presently 9.92%.

Insider Buying and Selling at Powell Industries

In other news, Director James W. Mcgill sold 6,600 shares of the business's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the sale, the director now owns 9,660 shares of the company's stock, valued at approximately $1,795,214.40. The trade was a 40.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Thomas W. Powell sold 5,000 shares of the firm's 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 transaction, the insider now owns 677,265 shares of the company's stock, valued at approximately $235,512,131.10. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,600 shares of company stock valued at $15,906,386 in the last ninety days. Company insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Powell Industries

A number of institutional investors and hedge funds have recently modified their holdings of POWL. Hollencrest Capital Management purchased a new stake in shares of Powell Industries in the 3rd quarter valued at approximately $30,000. Quest Partners LLC purchased a new position in Powell Industries during the third quarter valued at approximately $35,000. GAMMA Investing LLC lifted its position in Powell Industries by 38.2% in the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company's stock worth $41,000 after buying an additional 79 shares in the last quarter. Farther Finance Advisors LLC grew 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 valued at $44,000 after acquiring an additional 105 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new stake in shares of Powell Industries during the second quarter worth $47,000. Institutional investors and hedge funds 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.