Powell Industries (NASDAQ:POWL) Stock Rating Lowered by StockNews.com

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

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

Powell Industries Stock Performance

NASDAQ:POWL opened at $311.38 on Wednesday. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 1.36 and a beta of 0.88. The stock’s fifty day moving average price is $256.94 and its two-hundred day moving average price is $221.42. Powell Industries has a 52-week low of $76.29 and a 52-week high of $364.98.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders 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 annualized dividend and a dividend yield of 0.34%. Powell Industries’s dividend payout ratio is currently 8.62%.

Insider Activity at Powell Industries

In other 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 transaction of $1,738,700.00. Following the completion of the transaction, the insider now directly owns 677,265 shares in the company, valued at approximately $235,512,131.10. The trade was a 0.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its stake in Powell Industries by 0.9% in the third quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock valued at $80,520,000 after purchasing an additional 3,403 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Powell Industries by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock valued at $57,071,000 after buying an additional 9,692 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Powell Industries during the 3rd quarter worth $30,038,000. Victory Capital Management Inc. lifted its holdings in 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 worth $21,886,000 after acquiring an additional 90,504 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Powell Industries by 12.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 93,845 shares of the industrial products company’s stock valued at $20,833,000 after acquiring an additional 10,352 shares during the period. Institutional investors 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.