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 research note released on Thursday morning.

POWL has been the topic of several other reports. Roth Mkm began coverage on Powell Industries in a report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price on the stock. Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th.

Powell Industries Trading Down 0.1 %

NASDAQ POWL opened at $231.07 on Thursday. Powell Industries has a 12 month low of $76.29 and a 12 month high of $364.98. The stock has a 50 day moving average of $273.03 and a 200-day moving average of $210.04. The company has a market cap of $2.78 billion, a PE ratio of 18.80, a PEG ratio of 1.31 and a beta of 0.85.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Wednesday, November 20th. Powell Industries’s payout ratio is 8.62%.

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 2,451 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $262.10, for a total transaction of $642,407.10. Following the transaction, the insider now owns 1,628,328 shares of the company’s stock, valued at $426,784,768.80. This represents a 0.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 35,000 shares of company stock valued at $9,340,842 in the last quarter. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Powell Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in Powell Industries in the third quarter worth approximately $30,000. Quest Partners LLC bought a new position in shares of Powell Industries in the 3rd quarter worth $35,000. Farther Finance Advisors LLC grew its position 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 valued at $44,000 after purchasing an additional 105 shares during the period. Covestor Ltd increased its stake in Powell Industries by 21.8% during the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 41 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Powell Industries by 155.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the industrial products company’s stock worth $70,000 after buying an additional 191 shares during the last quarter. 89.77% of the stock is 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.