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

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

Powell Industries Stock Performance

POWL opened at $289.88 on Friday. The company has a fifty day moving average price of $260.58 and a two-hundred day moving average price of $195.82. Powell Industries has a 52 week low of $75.05 and a 52 week high of $364.98. The firm has a market capitalization of $3.48 billion, a PE ratio of 23.59, a P/E/G ratio of 1.65 and a beta of 0.86.

Powell Industries Dividend Announcement

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

Insider Transactions at Powell Industries

In other news, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the transaction, the director now directly owns 9,660 shares of the company’s stock, valued at $1,795,214.40. This trade represents a 40.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction on Wednesday, September 25th. The stock was 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 approximately $145,704,513.40. This represents a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,600 shares of company stock valued at $15,906,386 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Powell Industries

Several institutional investors have recently added to or reduced their stakes in the stock. Transform Wealth LLC lifted its position in Powell Industries by 25,920.5% in the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock valued at $240,075,000 after acquiring an additional 1,667,728 shares in the last quarter. Vanguard Group Inc. lifted its position in Powell Industries by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock valued at $93,410,000 after acquiring an additional 17,177 shares in the last quarter. State Street Corp lifted its position in Powell Industries by 0.9% in the 3rd quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock valued at $80,520,000 after acquiring an additional 3,403 shares in the last quarter. American Century Companies Inc. lifted its position 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 in the last quarter. Finally, Geode Capital Management LLC lifted its position in 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 acquiring an additional 9,692 shares in the last quarter. 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.