Powell Industries (NASDAQ:POWL) Rating Increased 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 note issued to investors on Tuesday.

Powell Industries Price Performance

NASDAQ POWL opened at $249.81 on Tuesday. The company has a market cap of $3.00 billion, a P/E ratio of 20.33, a P/E/G ratio of 1.42 and a beta of 0.85. Powell Industries has a 12 month low of $76.29 and a 12 month high of $364.98. The company has a 50-day moving average of $276.51 and a 200-day moving average of $204.37.

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 paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is 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 25,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the sale, the insider now owns 682,265 shares in the company, valued at approximately $145,704,513.40. The trade was a 3.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 60,000 shares of company stock worth $14,679,842 in the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of POWL. Franklin Resources Inc. boosted its position in Powell Industries by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 20,098 shares of the industrial products company’s stock worth $4,462,000 after purchasing an additional 497 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Powell Industries in the third quarter worth about $2,366,000. Sanctuary Advisors LLC acquired a new stake in shares of Powell Industries in the third quarter valued at about $12,176,000. Invst LLC raised its holdings in shares of Powell Industries by 18.5% during the 3rd quarter. Invst LLC now owns 4,977 shares of the industrial products company’s stock valued at $1,105,000 after buying an additional 776 shares during the period. Finally, Geode Capital Management LLC lifted its position 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 acquiring an additional 9,692 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

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.