Short Interest in Powell Industries, Inc. (NASDAQ:POWL) Declines By 16.3%

Powell Industries, Inc. (NASDAQ:POWL) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 1,390,000 shares, a decrease of 16.3% from the December 15th total of 1,660,000 shares. Currently, 14.8% of the company’s shares are sold short. Based on an average daily trading volume, of 457,800 shares, the days-to-cover ratio is currently 3.0 days.

Insider Buying and Selling at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the sale, the insider now owns 677,265 shares in the company, valued at approximately $235,512,131.10. This represents a 0.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Covestor Ltd boosted 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 worth $51,000 after purchasing an additional 41 shares during the period. Chartwell Investment Partners LLC lifted its stake in shares of 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 worth $1,712,000 after buying an additional 60 shares during the last quarter. Farther Finance Advisors LLC raised its holdings 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 worth $44,000 after acquiring an additional 105 shares during the period. Diversified Trust Co lifted its position in Powell Industries by 7.1% during the 3rd quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock worth $385,000 after acquiring an additional 115 shares during the last quarter. Finally, KBC Group NV boosted its holdings 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 acquiring an additional 126 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analysts Set New Price Targets

POWL has been the subject of several recent analyst reports. Roth Mkm began coverage on Powell Industries in a research report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 target price for the company. StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Roth Capital upgraded Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th.

Powell Industries Price Performance

POWL opened at $257.23 on Friday. The business has a 50-day moving average of $261.68 and a 200-day moving average of $217.18. Powell Industries has a fifty-two week low of $76.29 and a fifty-two week high of $364.98. The company has a market capitalization of $3.10 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.21 and a beta of 0.88.

Powell Industries Announces Dividend

The business also recently announced 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. The ex-dividend date was Wednesday, November 20th. This represents a $1.06 annualized dividend and a yield of 0.41%. Powell Industries’s dividend payout ratio (DPR) is currently 8.62%.

About Powell Industries

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.