Powell Industries (NASDAQ:POWL) Upgraded at StockNews.com

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

Powell Industries Trading Down 7.3 %

Shares of NASDAQ POWL opened at $278.53 on Friday. The firm’s 50-day moving average price is $247.95 and its 200-day moving average price is $191.56. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 1.60 and a beta of 0.86. Powell Industries has a 12-month low of $75.05 and a 12-month high of $364.98.

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.265 per share. 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 is 9.92%.

Insider Activity

In other news, major shareholder Thomas W. Powell sold 10,000 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $246.14, for a total transaction of $2,461,400.00. Following the sale, the insider now directly owns 1,658,328 shares in the company, valued at approximately $408,180,853.92. This represents a 0.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the transaction, the director now owns 9,660 shares in the company, valued at $1,795,214.40. The trade was a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,600 shares of company stock worth $15,906,386. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Powell Industries

Hedge funds have recently added to or reduced their stakes in the company. Cumberland Partners Ltd bought a new position in Powell Industries during the 3rd quarter valued at about $555,000. SG Americas Securities LLC bought a new position in Powell Industries during the 2nd quarter valued at about $1,403,000. Quadrature Capital Ltd bought a new position in Powell Industries during the 1st quarter valued at about $1,927,000. Raymond James & Associates grew its holdings in Powell Industries by 18.9% during the 3rd quarter. Raymond James & Associates now owns 21,276 shares of the industrial products company’s stock valued at $4,723,000 after purchasing an additional 3,385 shares during the last quarter. Finally, Stephens Investment Management Group LLC bought a new position in Powell Industries during the 3rd quarter valued at about $13,606,000. 89.77% of the stock is currently owned by institutional investors.

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.