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

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

Powell Industries Price Performance

POWL stock opened at $346.37 on Thursday. The firm has a 50 day simple moving average of $231.55 and a two-hundred day simple moving average of $185.42. The stock has a market cap of $4.15 billion, a PE ratio of 32.40, a P/E/G ratio of 2.00 and a beta of 0.86. Powell Industries has a one year low of $75.05 and a one year high of $352.75.

Powell Industries Dividend Announcement

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 issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s payout ratio is currently 9.92%.

Insider Activity

In related news, Director James W. Mcgill sold 6,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the sale, the director now owns 9,660 shares in the company, valued at $1,795,214.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Thomas W. Powell sold 25,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $145,704,513.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the transaction, the director now owns 9,660 shares in the company, valued at approximately $1,795,214.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,600 shares of company stock worth $14,167,686. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Powell Industries

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Powell Industries during the first quarter valued at approximately $493,000. BNP Paribas Financial Markets grew its holdings in Powell Industries by 164.0% in the 1st quarter. BNP Paribas Financial Markets now owns 11,425 shares of the industrial products company’s stock worth $1,626,000 after acquiring an additional 7,098 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in Powell Industries in the 1st quarter worth $450,000. Mutual of America Capital Management LLC purchased a new position in shares of Powell Industries in the first quarter valued at about $226,000. Finally, Texas Permanent School Fund Corp raised its stake in shares of Powell Industries by 2.2% during the first quarter. Texas Permanent School Fund Corp now owns 8,065 shares of the industrial products company’s stock valued at $1,148,000 after acquiring an additional 175 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors.

Powell Industries Company Profile

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.