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 report issued on Saturday morning.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $289.88 on Friday. The company’s 50-day moving average price is $260.58 and its two-hundred day moving average price is $195.82. Powell Industries has a one year low of $75.05 and a one year high of $364.98. The stock has a market capitalization of $3.48 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 1.65 and a beta of 0.86.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.265 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 annualized dividend and a yield of 0.37%. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the transaction, the insider now directly owns 682,265 shares in the company, valued at $145,704,513.40. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James W. Mcgill sold 6,600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the transaction, the director now owns 9,660 shares in the company, valued at $1,795,214.40. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,600 shares of company stock worth $15,906,386 in the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Cumberland Partners Ltd acquired a new position in shares of Powell Industries during the 3rd quarter worth about $555,000. SG Americas Securities LLC acquired a new position in Powell Industries in the 2nd quarter valued at about $1,403,000. Victory Capital Management Inc. grew its stake in Powell Industries by 1,119.3% in the 3rd 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. Principal Financial Group Inc. grew its stake in Powell Industries by 5.7% in the 3rd quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company’s stock valued at $11,434,000 after buying an additional 2,793 shares during the last quarter. Finally, Raymond James & Associates grew its stake in Powell Industries by 18.9% in the 3rd quarter. Raymond James & Associates now owns 21,276 shares of the industrial products company’s stock valued at $4,723,000 after buying an additional 3,385 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

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.