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 Wednesday.

Several other equities analysts have also recently commented on the company. Roth Mkm assumed coverage on Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price for the company. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th.

Powell Industries Price Performance

NASDAQ POWL opened at $290.80 on Wednesday. The company’s 50 day simple moving average is $256.99 and its two-hundred day simple moving average is $222.91. Powell Industries has a 1 year low of $76.29 and a 1 year high of $364.98. The stock has a market capitalization of $3.51 billion, a PE ratio of 23.66, a P/E/G ratio of 1.62 and a beta of 0.88.

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th were given 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 yield of 0.36%. Powell Industries’s payout ratio is 8.62%.

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction that occurred on 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP purchased a new stake in shares of Powell Industries in the 3rd quarter valued at $30,038,000. Victory Capital Management Inc. grew its stake in shares of Powell Industries by 1,119.3% during the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock valued at $21,886,000 after buying an additional 90,504 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Powell Industries in the second quarter worth about $11,658,000. Stephens Investment Management Group LLC purchased a new position in shares of Powell Industries in the third quarter worth about $13,606,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Powell Industries in the 3rd quarter valued at about $12,176,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

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.