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 research note released on Thursday.

POWL has been the subject of several other reports. Roth Mkm assumed coverage on Powell Industries in a report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 target price for the company. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th.

Powell Industries Stock Performance

Shares of POWL stock opened at $231.07 on Thursday. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 1.31 and a beta of 0.85. Powell Industries has a 52-week low of $76.29 and a 52-week high of $364.98. The company has a 50-day simple moving average of $273.03 and a two-hundred day simple moving average of $210.04.

Powell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a yield of 0.46%. Powell Industries’s dividend payout ratio (DPR) is 8.62%.

Insider Activity

In other news, major shareholder Thomas W. Powell sold 17,549 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $256.33, for a total transaction of $4,498,335.17. Following the completion of the transaction, the insider now directly owns 1,630,779 shares in the company, valued at $418,017,581.07. The trade was a 1.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 35,000 shares of company stock worth $9,340,842 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Powell Industries by 0.9% in the 3rd quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock worth $80,520,000 after buying an additional 3,403 shares during the last quarter. American Century Companies Inc. grew its position in Powell Industries by 15.0% in the second quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after acquiring an additional 35,818 shares in the last quarter. Geode Capital Management LLC increased its stake in Powell Industries by 3.9% in the third quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock valued at $57,071,000 after acquiring an additional 9,692 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Powell Industries during the third quarter valued at about $30,038,000. Finally, Bank of New York Mellon Corp raised its position in Powell Industries by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock valued at $14,271,000 after purchasing an additional 1,015 shares in the last quarter. 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.