Powell Industries, Inc. (NASDAQ:POWL – Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $290.80, but opened at $262.00. Powell Industries shares last traded at $249.69, with a volume of 289,332 shares.
Analyst Ratings Changes
Several analysts recently issued reports on POWL shares. Roth Mkm began coverage on Powell Industries in a research note on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price target for the company. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, StockNews.com lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 22nd.
Read Our Latest Stock Report on POWL
Powell Industries Trading Down 2.3 %
Powell Industries Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Wednesday, November 20th. Powell Industries’s dividend payout ratio is currently 8.62%.
Insider Transactions at Powell Industries
In other news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction 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 transaction, the insider now owns 677,265 shares in the company, valued at approximately $235,512,131.10. This trade represents a 0.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.20% of the stock is currently owned by insiders.
Institutional Trading of Powell Industries
Several large investors have recently bought and sold shares of the business. Savant Capital LLC lifted its holdings in shares of Powell Industries by 2.7% in the fourth quarter. Savant Capital LLC now owns 6,848 shares of the industrial products company’s stock worth $1,518,000 after acquiring an additional 177 shares during the last quarter. Liberty Capital Management Inc. bought a new position in Powell Industries in the 4th quarter valued at approximately $563,000. Kestra Private Wealth Services LLC boosted its position in Powell Industries by 20.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 3,796 shares of the industrial products company’s stock valued at $841,000 after buying an additional 638 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in shares of Powell Industries by 17.5% during the fourth quarter. Stephens Investment Management Group LLC now owns 72,016 shares of the industrial products company’s stock worth $15,962,000 after buying an additional 10,725 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new position in shares of Powell Industries during the fourth quarter worth $14,261,000. 89.77% of the stock is owned by institutional investors and hedge funds.
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.
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