Powell Industries (NASDAQ:POWL) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Powell Industries (NASDAQ:POWL) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Several other analysts have also commented on POWL. Roth Mkm began coverage on Powell Industries in a report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price objective for the company. Roth Capital raised Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th.

Powell Industries Stock Down 3.8 %

POWL stock opened at $231.97 on Wednesday. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 1.31 and a beta of 0.85. Powell Industries has a twelve month low of $76.29 and a twelve month high of $364.98. The firm’s fifty day simple moving average is $277.38 and its two-hundred day simple moving average is $206.48.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.265 per share. The ex-dividend date 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 currently 8.62%.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 2,451 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $262.10, for a total value of $642,407.10. Following the sale, the insider now directly owns 1,628,328 shares of the company’s stock, valued at approximately $426,784,768.80. This represents a 0.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders have sold 60,000 shares of company stock worth $14,679,842. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP acquired a new position in shares of Powell Industries in the 3rd quarter valued at $30,038,000. Victory Capital Management Inc. increased its position 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 during the period. Driehaus Capital Management LLC acquired a new position in Powell Industries during the second quarter worth $11,658,000. Stephens Investment Management Group LLC acquired a new position in shares of Powell Industries during the 3rd quarter worth $13,606,000. Finally, Sanctuary Advisors LLC purchased a new position in Powell Industries in the third quarter valued at about $12,176,000. 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.