Powell Industries (NASDAQ:POWL) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Powell Industries (NASDAQ:POWL) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Powell Industries Stock Performance

Shares of NASDAQ:POWL opened at $289.01 on Friday. Powell Industries has a one year low of $75.05 and a one year high of $364.98. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 1.60 and a beta of 0.86. The company has a 50-day simple moving average of $250.62 and a 200-day simple moving average of $192.46.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be paid a $0.265 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.37%. Powell Industries’s dividend payout ratio (DPR) is currently 9.92%.

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the sale, the insider now owns 682,265 shares of the company’s stock, valued at approximately $145,704,513.40. The trade was a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the transaction, the director now directly owns 9,660 shares of the company’s stock, valued at approximately $1,795,214.40. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,600 shares of company stock worth $15,906,386 over the last 90 days. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Powell Industries

Institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd raised its position 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 buying an additional 41 shares during the last quarter. Chartwell Investment Partners LLC boosted its holdings in shares of Powell Industries by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock worth $1,712,000 after purchasing an additional 60 shares during the last quarter. GAMMA Investing LLC increased its stake in Powell Industries by 38.2% in the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 79 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Powell Industries by 110.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after buying an additional 105 shares during the last quarter. Finally, Diversified Trust Co increased its stake in shares of Powell Industries by 7.1% during the 3rd quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock valued at $385,000 after acquiring an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

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.