Powell Industries (NASDAQ:POWL) Lowered 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 research note issued to investors on Saturday.

Powell Industries Trading Down 3.2 %

NASDAQ POWL opened at $271.63 on Friday. The stock has a fifty day simple moving average of $262.79 and a 200-day simple moving average of $196.90. The stock has a market cap of $3.26 billion, a PE ratio of 22.10, a P/E/G ratio of 1.47 and a beta of 0.86. Powell Industries has a twelve month low of $75.05 and a twelve month high of $364.98.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s dividend payout ratio is presently 8.62%.

Insider Activity

In other news, major shareholder Thomas W. Powell sold 10,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 1,658,328 shares in the company, valued at $408,180,853.92. This trade represents a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 60,000 shares of company stock valued at $14,679,842. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

Several hedge funds have recently bought and sold shares of the company. World Investment Advisors LLC acquired a new position in Powell Industries in the 3rd quarter valued at about $2,366,000. Sanctuary Advisors LLC purchased a new position in shares of Powell Industries in the third quarter valued at approximately $12,176,000. Invst LLC grew its holdings in shares of Powell Industries by 18.5% in the third quarter. Invst LLC now owns 4,977 shares of the industrial products company’s stock valued at $1,105,000 after purchasing an additional 776 shares in the last quarter. Geode Capital Management LLC increased its stake in Powell Industries by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock worth $57,071,000 after buying an additional 9,692 shares during the period. Finally, Barclays PLC lifted its holdings in Powell Industries by 198.1% during the 3rd quarter. Barclays PLC now owns 60,969 shares of the industrial products company’s stock worth $13,536,000 after buying an additional 40,515 shares in the last quarter. Institutional investors and hedge funds 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.