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

StockNews.com cut shares of Powell Industries (NASDAQ:POWL) from a buy rating to a hold rating in a report published on Saturday.

Powell Industries Trading Down 3.2 %

Shares of NASDAQ:POWL opened at $280.60 on Friday. The stock has a fifty day simple moving average of $262.79 and a two-hundred day simple moving average of $196.90. Powell Industries has a 12-month low of $75.05 and a 12-month high of $364.98. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 1.47 and a beta of 0.86.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is 8.62%.

Insiders Place Their Bets

In related news, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 60,000 shares of company stock valued at $14,679,842. Insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Several institutional investors have recently added to or reduced their stakes in POWL. Transform Wealth LLC lifted its holdings in shares of Powell Industries by 25,920.5% during the second quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock valued at $240,075,000 after purchasing an additional 1,667,728 shares in the last quarter. Wellington Management Group LLP bought a new position in Powell Industries during the 3rd quarter valued at about $30,038,000. Victory Capital Management Inc. lifted its stake 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 valued at $21,886,000 after acquiring an additional 90,504 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of Powell Industries in the second quarter worth approximately $11,658,000. Finally, Stephens Investment Management Group LLC bought a new stake in shares of Powell Industries in the third quarter worth approximately $13,606,000. 89.77% of the stock is currently owned by hedge funds and other 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.