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 report released on Wednesday morning.

POWL has been the subject of several other research reports. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. Roth Mkm began coverage on shares of Powell Industries in a report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price target on the stock.

Powell Industries Stock Down 3.8 %

Shares of NASDAQ POWL opened at $231.97 on Wednesday. The stock’s 50 day moving average price is $277.38 and its 200-day moving average price is $206.48. Powell Industries has a twelve month low of $76.29 and a twelve month high of $364.98. The company has a market capitalization of $2.79 billion, a PE ratio of 18.87, a PEG ratio of 1.31 and a beta of 0.85.

Powell Industries Announces Dividend

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

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the firm’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 transaction of $5,339,000.00. Following the completion of the transaction, the insider now owns 682,265 shares of the company’s stock, valued at approximately $145,704,513.40. This trade represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 60,000 shares of company stock worth $14,679,842 over the last 90 days. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. purchased a new position in shares of Powell Industries in the third quarter worth $1,361,000. Franklin Resources Inc. grew its holdings in shares of Powell Industries by 2.5% in the third quarter. Franklin Resources Inc. now owns 20,098 shares of the industrial products company’s stock worth $4,462,000 after acquiring an additional 497 shares during the period. World Investment Advisors LLC purchased a new stake in Powell Industries during the third quarter valued at $2,366,000. Sanctuary Advisors LLC purchased a new stake in Powell Industries during the third quarter valued at $12,176,000. Finally, Invst LLC increased its holdings in Powell Industries by 18.5% during the third quarter. Invst LLC now owns 4,977 shares of the industrial products company’s stock valued at $1,105,000 after buying an additional 776 shares during the last quarter. Institutional investors own 89.77% of the company’s stock.

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.