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 research report released on Wednesday.

A number of other research analysts have also commented on POWL. Roth Mkm initiated coverage on Powell Industries in a research note on Wednesday, December 11th. They issued 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 Stock Up 7.7 %

Shares of POWL opened at $311.38 on Wednesday. The stock’s 50-day moving average price is $256.94 and its 200 day moving average price is $221.42. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 1.36 and a beta of 0.88. Powell Industries has a 12-month low of $76.29 and a 12-month high of $364.98.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.34%. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.

Insider Buying and Selling at Powell Industries

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $347.74, for a total value of $1,738,700.00. Following the sale, the insider now owns 677,265 shares in the company, valued at approximately $235,512,131.10. The trade was a 0.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

Several institutional investors have recently added to or reduced their stakes in POWL. Covestor Ltd increased its holdings in shares of Powell Industries by 21.8% during the third quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock worth $51,000 after buying an additional 41 shares in the last quarter. Chartwell Investment Partners LLC grew its position in Powell Industries by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock worth $1,712,000 after acquiring an additional 60 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Powell Industries by 110.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 105 shares in the last quarter. KBC Group NV raised its position in Powell Industries by 35.1% in the 4th quarter. KBC Group NV now owns 435 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 113 shares during the last quarter. Finally, Diversified Trust Co boosted its stake in Powell Industries by 7.1% in the third quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock worth $385,000 after purchasing an additional 115 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.