Powell Industries (NASDAQ:POWL) Stock Price Up 8.7% – Time to Buy?

Shares of Powell Industries, Inc. (NASDAQ:POWL) traded up 8.7% during trading on Wednesday . The stock traded as high as $292.28 and last traded at $292.28. 84,049 shares were traded during mid-day trading, a decline of 78% from the average session volume of 382,114 shares. The stock had previously closed at $268.93.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd.

Powell Industries Trading Up 6.9 %

The firm’s 50-day moving average is $271.15 and its 200-day moving average is $201.34. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.40 and a beta of 0.85.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.265 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a yield of 0.37%. Powell Industries’s dividend payout ratio is presently 8.62%.

Insiders Place Their Bets

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the transaction, the insider now directly owns 677,265 shares of the company’s stock, valued at $235,512,131.10. This represents a 0.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 60,000 shares of company stock worth $14,679,842. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

Institutional investors have recently bought and sold shares of the business. Transform Wealth LLC grew its holdings in Powell Industries by 25,920.5% in the second quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock worth $240,075,000 after purchasing an additional 1,667,728 shares during the last quarter. State Street Corp increased its stake in shares of Powell Industries by 0.9% during the third quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock worth $80,520,000 after purchasing an additional 3,403 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Powell Industries by 15.0% during the second quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after purchasing an additional 35,818 shares in the last quarter. Geode Capital Management LLC grew its stake in Powell Industries by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock valued at $57,071,000 after acquiring an additional 9,692 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Powell Industries during the 3rd quarter valued at about $30,038,000. 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.