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 report published on Tuesday.

Powell Industries Stock Down 5.3 %

NASDAQ POWL opened at $255.76 on Tuesday. Powell Industries has a twelve month low of $76.29 and a twelve month high of $364.98. The business has a 50-day moving average price of $277.75 and a 200-day moving average price of $205.19. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 1.42 and a beta of 0.85.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the firm’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 transaction of $5,339,000.00. Following the completion of the transaction, the insider now owns 682,265 shares in the company, valued at $145,704,513.40. This trade represents a 3.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders sold 60,000 shares of company stock worth $14,679,842. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of POWL. Hollencrest Capital Management purchased a new stake in Powell Industries during the third quarter valued at $30,000. Quest Partners LLC bought a new stake in shares of Powell Industries in the 3rd quarter worth about $35,000. Farther Finance Advisors LLC raised its position in shares of Powell Industries by 110.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after buying an additional 105 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of Powell Industries in the 2nd quarter valued at about $47,000. Finally, Quarry LP purchased a new position in Powell Industries in the second quarter worth about $48,000. 89.77% of the stock is currently owned by institutional investors.

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.