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

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

A number of other brokerages have also weighed in on POWL. Roth Mkm began coverage on shares of 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 report on Tuesday, December 10th.

Powell Industries Trading Up 1.0 %

Shares of NASDAQ POWL opened at $245.80 on Wednesday. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 1.31 and a beta of 0.85. The stock has a fifty day simple moving average of $277.31 and a two-hundred day simple moving average of $206.74. Powell Industries has a 1-year low of $76.29 and a 1-year high of $364.98.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th were paid a $0.265 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.06 annualized dividend and a yield of 0.43%. Powell Industries’s dividend payout ratio is currently 8.62%.

Insider Activity

In other news, major shareholder Thomas W. Powell sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $246.14, for a total value of $2,461,400.00. Following the completion of the transaction, the insider now directly owns 1,658,328 shares in the company, valued at approximately $408,180,853.92. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 60,000 shares of company stock worth $14,679,842 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in shares of Powell Industries in the third quarter worth $30,000. Quest Partners LLC bought a new position in Powell Industries in the 3rd quarter worth about $35,000. Farther Finance Advisors LLC raised its holdings in shares of Powell Industries by 110.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 105 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Powell Industries during the second quarter worth about $47,000. Finally, Quarry LP bought a new position in shares of Powell Industries in the second quarter worth approximately $48,000. 89.77% of the stock is owned by 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.