Powell Industries (NASDAQ:POWL) Upgraded by Roth Capital to “Strong-Buy” Rating

Roth Capital upgraded shares of Powell Industries (NASDAQ:POWL) to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

A number of other brokerages have also weighed in on POWL. StockNews.com raised Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday. Roth Mkm initiated coverage on shares of Powell Industries in a report on Wednesday. They set a “buy” rating and a $312.00 price objective on the stock.

Powell Industries Trading Up 8.1 %

NASDAQ:POWL opened at $269.97 on Tuesday. Powell Industries has a 12 month low of $76.29 and a 12 month high of $364.98. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 1.42 and a beta of 0.85. The firm has a fifty day simple moving average of $277.28 and a two-hundred day simple moving average of $204.83.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 yield of 0.39%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries’s dividend payout ratio is currently 8.62%.

Insider Activity

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the company’s stock in a transaction 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 $235,512,131.10. This represents a 0.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 60,000 shares of company stock worth $14,679,842 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new position in Powell Industries in the third quarter worth $30,000. Quest Partners LLC bought a new stake in shares of Powell Industries during the 3rd quarter worth $35,000. Farther Finance Advisors LLC boosted its holdings in shares of 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 buying an additional 105 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Powell Industries during the second quarter valued at about $47,000. Finally, Quarry LP bought a new position in Powell Industries during the second quarter valued at about $48,000. 89.77% of the stock is currently owned by hedge funds and other 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.