StockNews.com Downgrades Powell Industries (NASDAQ:POWL) to Hold

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

Several other equities research analysts have also recently weighed in on the company. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Roth Mkm assumed 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 Trading Up 0.1 %

POWL stock opened at $290.80 on Wednesday. The firm’s 50-day moving average price is $256.99 and its two-hundred day moving average price is $222.91. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 1.62 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th were issued a $0.265 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.06 annualized dividend and a yield of 0.36%. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.

Insiders Place Their Bets

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 transaction 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. bought a new position in shares of Powell Industries during the second quarter valued at approximately $6,713,000. Public Employees Retirement Association of Colorado purchased a new position in Powell Industries during the second quarter valued at $149,000. Canada Pension Plan Investment Board bought a new stake in Powell Industries in the second quarter worth $72,000. Public Sector Pension Investment Board grew its stake in shares of Powell Industries by 7.0% in the second quarter. Public Sector Pension Investment Board now owns 20,285 shares of the industrial products company’s stock worth $2,909,000 after acquiring an additional 1,332 shares during the last quarter. Finally, Caxton Associates LP increased its holdings in shares of Powell Industries by 403.0% during the second quarter. Caxton Associates LP now owns 7,485 shares of the industrial products company’s stock valued at $1,073,000 after acquiring an additional 5,997 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other 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.