Powell Industries (NASDAQ:POWL) Lowered to “Hold” Rating by StockNews.com

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

Several other research firms also recently commented on POWL. Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th. Roth Mkm initiated coverage on shares of Powell Industries in a report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price target on the stock.

Powell Industries Stock Up 1.9 %

Shares of POWL opened at $250.63 on Monday. The stock has a market cap of $3.01 billion, a PE ratio of 20.39, a PEG 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. The business has a 50-day simple moving average of $269.63 and a two-hundred day simple moving average of $213.11.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Wednesday, November 20th. Powell Industries’s dividend payout ratio is currently 8.62%.

Insider Buying and Selling at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $347.74, for a total value of $1,738,700.00. Following the transaction, the insider now owns 677,265 shares in the company, valued at $235,512,131.10. The trade was a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 25,000 shares of company stock valued at $6,879,442. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC increased its stake in shares of Powell Industries by 44.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 16,488 shares of the industrial products company’s stock valued at $2,364,000 after acquiring an additional 5,049 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Powell Industries by 53.9% in the second quarter. Victory Capital Management Inc. now owns 8,086 shares of the industrial products company’s stock worth $1,160,000 after purchasing an additional 2,833 shares during the period. Los Angeles Capital Management LLC increased its stake in Powell Industries by 9.5% in the second quarter. Los Angeles Capital Management LLC now owns 9,890 shares of the industrial products company’s stock valued at $1,418,000 after purchasing an additional 859 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Powell Industries during the second quarter valued at about $140,000. Finally, Texas Permanent School Fund Corp boosted its position in shares of Powell Industries by 8.1% during the 2nd quarter. Texas Permanent School Fund Corp now owns 8,717 shares of the industrial products company’s stock worth $1,250,000 after purchasing an additional 652 shares in the last quarter. 89.77% of the stock is 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.