Powell Industries (NASDAQ:POWL) Stock Rating Upgraded by Roth Capital

Roth Capital upgraded shares of Powell Industries (NASDAQ:POWL) to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

Other analysts have also issued research reports about the company. StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a report on Tuesday. Roth Mkm initiated coverage on Powell Industries in a report on Wednesday. They issued a “buy” rating and a $312.00 price objective for the company.

Powell Industries Stock Performance

NASDAQ:POWL opened at $255.76 on Tuesday. Powell Industries has a 1 year low of $76.29 and a 1 year high of $364.98. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.42 and a beta of 0.85. The business has a fifty day moving average of $277.75 and a 200-day moving average of $205.19.

Powell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be issued a $0.265 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.41%. Powell Industries’s dividend payout ratio (DPR) is 8.62%.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 25,000 shares of the company’s stock in a transaction on 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 transaction, the insider now directly 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 accessible through the SEC website. Insiders sold a total of 60,000 shares of company stock valued at $14,679,842 over the last three months. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Covestor Ltd raised its position in Powell Industries by 21.8% during 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 period. Chartwell Investment Partners LLC raised its position in 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 valued at $1,712,000 after buying an additional 60 shares during the period. Farther Finance Advisors LLC raised its position in Powell Industries by 110.5% during the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after buying an additional 105 shares during the period. Diversified Trust Co raised its position in Powell Industries by 7.1% during the third quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock valued at $385,000 after buying an additional 115 shares during the period. Finally, KBC Group NV raised its position in Powell Industries by 64.3% during the third quarter. KBC Group NV now owns 322 shares of the industrial products company’s stock valued at $71,000 after buying an additional 126 shares during the period. 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.