Powell Industries (NASDAQ:POWL) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Powell Industries (NASDAQ:POWL) from a buy rating to a hold rating in a report released on Monday morning.

POWL has been the topic of several other research reports. Roth Mkm began coverage on shares of Powell Industries in a research note on Wednesday, December 11th. They issued a “buy” rating and a $312.00 target price on the stock. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th.

Powell Industries Stock Down 3.3 %

Shares of POWL opened at $229.38 on Monday. The stock’s fifty day simple moving average is $268.65 and its 200-day simple moving average is $213.80. The firm has a market capitalization of $2.76 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 1.31 and a beta of 0.88. Powell Industries has a 12-month low of $76.29 and a 12-month high of $364.98.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th were given a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.46%. Powell Industries’s dividend payout ratio is 8.62%.

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the business’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 directly owns 677,265 shares of the company’s stock, valued at approximately $235,512,131.10. The trade was a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Powell Industries

Several institutional investors have recently modified their holdings of the business. State Street Corp raised its holdings in Powell Industries by 0.9% during the 3rd quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock worth $80,520,000 after buying an additional 3,403 shares during the period. American Century Companies Inc. raised its holdings in shares of Powell Industries by 15.0% during the second quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after acquiring an additional 35,818 shares during the period. Geode Capital Management LLC raised its holdings in shares of Powell Industries by 3.9% during the third quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock worth $57,071,000 after acquiring an additional 9,692 shares during the period. Wellington Management Group LLP bought a new stake in Powell Industries in the 3rd quarter valued at $30,038,000. Finally, Victory Capital Management Inc. increased its holdings in Powell Industries by 1,119.3% during the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock worth $21,886,000 after purchasing an additional 90,504 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

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.