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

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

Powell Industries Stock Up 2.2 %

Shares of POWL stock traded up $7.33 during trading hours on Thursday, reaching $344.89. 222,947 shares of the company’s stock were exchanged, compared to its average volume of 368,956. Powell Industries has a fifty-two week low of $75.05 and a fifty-two week high of $352.75. The stock has a market capitalization of $4.14 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.00 and a beta of 0.86. The business has a fifty day moving average price of $227.98 and a 200-day moving average price of $183.67.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.265 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.31%. Powell Industries’s dividend payout ratio (DPR) is presently 9.92%.

Insider Activity

In other news, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 682,265 shares in the company, valued at approximately $145,704,513.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Thomas W. Powell sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $246.14, for a total transaction of $2,461,400.00. Following the sale, the insider now directly owns 1,658,328 shares in the company, valued at approximately $408,180,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Thomas W. Powell sold 25,000 shares of the company’s 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 completion of the sale, the insider now owns 682,265 shares in the company, valued at $145,704,513.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,600 shares of company stock worth $14,167,686. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

A number of large investors have recently bought and sold shares of POWL. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Powell Industries in the first quarter valued at $493,000. BNP Paribas Financial Markets grew its position in Powell Industries by 164.0% in the first quarter. BNP Paribas Financial Markets now owns 11,425 shares of the industrial products company’s stock valued at $1,626,000 after acquiring an additional 7,098 shares during the period. Daiwa Securities Group Inc. bought a new stake in Powell Industries in the first quarter valued at $450,000. Mutual of America Capital Management LLC bought a new stake in Powell Industries in the first quarter valued at $226,000. Finally, Texas Permanent School Fund Corp grew its position in Powell Industries by 2.2% in 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 period. 89.77% of the stock is currently 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.