Powell Industries (NASDAQ:POWL) Cut to Hold at StockNews.com

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

Other analysts also recently issued research reports about the company. Roth Mkm assumed coverage on Powell Industries in a research report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 target price on the stock. Roth Capital raised Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th.

Powell Industries Trading Down 3.3 %

Powell Industries stock opened at $229.38 on Monday. Powell Industries has a 1-year low of $76.29 and a 1-year high of $364.98. The company has a fifty day simple moving average of $268.65 and a 200 day simple moving average of $213.80. The company has a market cap of $2.76 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 1.31 and a beta of 0.88.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were issued a $0.265 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.46%. Powell Industries’s payout ratio is 8.62%.

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 2,451 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $262.10, for a total value of $642,407.10. Following the sale, the insider now owns 1,628,328 shares in the company, valued at approximately $426,784,768.80. This represents a 0.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Powell Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp lifted its stake in shares of Powell Industries by 0.9% during the 3rd quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock worth $80,520,000 after buying an additional 3,403 shares during the last quarter. American Century Companies Inc. raised its holdings in Powell Industries by 15.0% in the 2nd quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock valued at $39,347,000 after acquiring an additional 35,818 shares during the period. Geode Capital Management LLC lifted its position in Powell Industries by 3.9% during the third quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock worth $57,071,000 after acquiring an additional 9,692 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Powell Industries during the third quarter worth approximately $30,038,000. Finally, Victory Capital Management Inc. grew its position in shares of Powell Industries by 1,119.3% in 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 purchasing an additional 90,504 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

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.