StockNews.com Upgrades Powell Industries (NASDAQ:POWL) to “Buy”

StockNews.com upgraded shares of Powell Industries (NASDAQ:POWL) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Other equities analysts have also recently issued reports about the stock. Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. Roth Mkm initiated coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price objective for the company.

Powell Industries Trading Up 3.7 %

Shares of POWL stock opened at $237.96 on Tuesday. Powell Industries has a twelve month low of $76.29 and a twelve month high of $364.98. The stock has a 50 day moving average of $266.38 and a 200 day moving average of $216.01. The stock has a market cap of $2.87 billion, a P/E ratio of 19.36, a P/E/G ratio of 1.31 and a beta of 0.88.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were given a $0.265 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.06 annualized dividend and a dividend yield of 0.45%. Powell Industries’s dividend payout ratio (DPR) is 8.62%.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 677,265 shares in the company, valued at approximately $235,512,131.10. The trade was a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in POWL. Hollencrest Capital Management purchased a new position in shares of Powell Industries in the third quarter worth about $30,000. Quest Partners LLC acquired a new stake in Powell Industries in the 3rd quarter valued at about $35,000. Farther Finance Advisors LLC lifted its stake 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 purchasing an additional 105 shares in the last quarter. Quarry LP acquired a new position in shares of Powell Industries during the 2nd quarter worth approximately $48,000. Finally, Covestor Ltd grew its position in shares of Powell Industries by 21.8% in the third 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. Institutional investors and hedge funds own 89.77% of the company’s stock.

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.