Powell Industries (NASDAQ:POWL) Shares Up 7.9% – Here’s What Happened

Powell Industries, Inc. (NASDAQ:POWL) shot up 7.9% during mid-day trading on Friday . The stock traded as high as $276.52 and last traded at $275.14. 117,574 shares were traded during trading, a decline of 68% from the average session volume of 365,798 shares. The stock had previously closed at $254.98.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd.

Powell Industries Price Performance

The stock has a 50 day simple moving average of $215.34 and a two-hundred day simple moving average of $177.46. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 1.46 and a beta of 0.88.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share for the quarter, beating the consensus estimate of $2.16 by $1.63. The firm had revenue of $288.17 million for the quarter, compared to analysts’ expectations of $222.18 million. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. The company’s revenue was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 EPS. As a group, research analysts forecast that Powell Industries, Inc. will post 12.01 EPS for the current year.

Insider Buying and Selling

In other news, insider Robert B. Callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $160.00, for a total value of $160,000.00. Following the transaction, the insider now directly owns 11,066 shares in the company, valued at approximately $1,770,560. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total value of $5,339,000.00. Following the completion of the transaction, the insider now directly owns 682,265 shares in the company, valued at approximately $145,704,513.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert B. Callahan sold 1,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the transaction, the insider now directly owns 11,066 shares of the company’s stock, valued at approximately $1,770,560. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,350 shares of company stock valued at $14,774,341. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Powell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management acquired a new stake in shares of Powell Industries in the 3rd quarter valued at about $30,000. Farther Finance Advisors LLC boosted its holdings in shares of Powell Industries by 110.5% in the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 105 shares during the period. GAMMA Investing LLC grew its position in shares of Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 79 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Powell Industries by 155.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 191 shares during the period. Finally, Picton Mahoney Asset Management purchased a new stake in Powell Industries in the 2nd quarter valued at $47,000. 89.77% of the stock is owned by institutional investors and hedge funds.

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.