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 released on Friday.

Powell Industries Price Performance

Shares of NASDAQ:POWL traded down $21.98 on Friday, hitting $278.53. The company’s stock had a trading volume of 658,122 shares, compared to its average volume of 372,566. Powell Industries has a 1 year low of $75.05 and a 1 year high of $364.98. The company has a market capitalization of $3.34 billion, a PE ratio of 26.06, a PEG ratio of 1.82 and a beta of 0.86. The company has a 50-day simple moving average of $247.95 and a 200 day simple moving average of $191.07.

Powell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is 9.92%.

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total value of $5,339,000.00. Following the completion of the sale, the insider now owns 682,265 shares of the company’s stock, valued at $145,704,513.40. This represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction that occurred 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,600 shares of company stock worth $15,906,386. Insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Institutional investors have recently made changes to their positions in the stock. Covestor Ltd lifted its stake in Powell Industries by 21.8% in the third quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 41 shares during the period. Chartwell Investment Partners LLC boosted its holdings in Powell Industries by 0.8% in 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 acquiring an additional 60 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 79 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Powell Industries by 110.5% in the third 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 in the last quarter. Finally, Diversified Trust Co boosted its holdings in Powell Industries by 7.1% in the third 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 in 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.