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 note released on Saturday morning.

Powell Industries Price Performance

POWL opened at $280.60 on Friday. The firm has a market capitalization of $3.37 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86. Powell Industries has a one year low of $75.05 and a one year high of $364.98. The company has a fifty day moving average price of $262.79 and a 200-day moving average price of $196.90.

Powell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.38%. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.

Insiders Place Their Bets

In related news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the transaction, the insider now directly owns 682,265 shares of the company’s stock, valued at $145,704,513.40. The trade was a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 60,000 shares of company stock valued at $14,679,842 over the last quarter. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Powell Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new position in shares of Powell Industries during the 3rd quarter worth approximately $30,000. Quest Partners LLC purchased a new stake in Powell Industries in the third quarter worth $35,000. Farther Finance Advisors LLC grew its stake in Powell Industries by 110.5% in the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 105 shares during the period. Covestor Ltd raised its holdings in Powell Industries by 21.8% in the third quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 41 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after buying an additional 79 shares during the period. Hedge funds and other 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.