StockNews.com cut shares of Powell Industries (NASDAQ:POWL - Free Report) from a buy rating to a hold rating in a research report report published on Saturday morning.
Powell Industries Stock Up 0.7 %
Shares of POWL stock traded up $1.89 on Friday, reaching $289.88. The company's stock had a trading volume of 438,174 shares, compared to its average volume of 519,577. Powell Industries has a 12-month low of $75.05 and a 12-month high of $364.98. The company has a market capitalization of $3.48 billion, a P/E ratio of 23.59, a PEG ratio of 1.65 and a beta of 0.86. The stock's 50 day simple moving average is $260.58 and its 200-day simple moving average is $195.56.
Powell Industries Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 yield of 0.37%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries's dividend payout ratio (DPR) is presently 8.62%.
Insider Transactions at Powell Industries
In related news, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the sale, the director now owns 9,660 shares of the company's stock, valued at approximately $1,795,214.40. This trade represents a 40.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the sale, the insider now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 66,600 shares of company stock valued at $15,906,386. Company insiders own 2.20% of the company's stock.
Institutional Trading of Powell Industries
Institutional investors and hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management acquired a new position in Powell Industries during the third quarter valued at $30,000. Quest Partners LLC acquired a new position in Powell Industries in the third quarter valued at about $35,000. Farther Finance Advisors LLC boosted its holdings in Powell Industries by 110.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 105 shares during the period. Covestor Ltd raised its stake in shares of Powell Industries by 21.8% in the third quarter. Covestor Ltd now owns 229 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 41 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Powell Industries by 38.2% during the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company's stock worth $41,000 after acquiring an additional 79 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.
About Powell Industries
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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.
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