Powell Industries (NASDAQ:POWL) Raised 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 issued on Friday.

Powell Industries Stock Down 7.3 %

Shares of POWL stock traded down $21.98 during mid-day trading on Friday, reaching $278.53. 658,122 shares of the company’s stock traded hands, compared to its average volume of 372,566. Powell Industries has a 12 month low of $75.05 and a 12 month high of $364.98. The company has a market cap of $3.34 billion, a P/E ratio of 26.06, a P/E/G ratio of 1.82 and a beta of 0.86. The company’s 50-day moving average price is $247.95 and its 200-day moving average price is $191.07.

Powell Industries Dividend Announcement

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 issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is presently 9.92%.

Insider Activity

In other news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the transaction, the insider now owns 677,265 shares of the company’s stock, valued at $235,512,131.10. The trade was a 0.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James W. Mcgill sold 6,600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the transaction, the director now directly owns 9,660 shares of the company’s stock, valued at approximately $1,795,214.40. This trade represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,600 shares of company stock worth $15,906,386. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

Hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new position in Powell Industries in the 3rd quarter worth about $30,000. Quest Partners LLC purchased a new position in Powell Industries in the 3rd quarter worth about $35,000. Farther Finance Advisors LLC grew its stake 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 purchasing an additional 105 shares during the period. Covestor Ltd grew its stake in shares of 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 during the period. Finally, GAMMA Investing LLC grew its stake in shares of Powell Industries by 38.2% during the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 79 shares during the period. 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.