Powell Industries (NASDAQ:POWL) Trading Up 5.8% – Time to Buy?

Powell Industries, Inc. (NASDAQ:POWL)’s stock price was up 5.8% during trading on Wednesday . The company traded as high as $264.29 and last traded at $264.29. Approximately 139,719 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 384,048 shares. The stock had previously closed at $249.81.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on POWL shares. StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday. Finally, Roth Mkm started coverage on shares of Powell Industries in a research report on Wednesday. They issued a “buy” rating and a $312.00 target price on the stock.

Powell Industries Stock Performance

The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 1.37 and a beta of 0.85. The business has a fifty day moving average price of $277.75 and a 200 day moving average price of $205.19.

Powell Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.265 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.06 annualized dividend and a yield of 0.42%. Powell Industries’s dividend payout ratio is presently 8.62%.

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 10,000 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $246.14, for a total value of $2,461,400.00. Following the transaction, the insider now owns 1,658,328 shares of the company’s stock, valued at approximately $408,180,853.92. This trade represents a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 60,000 shares of company stock worth $14,679,842 in the last three months. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Powell Industries

Several large investors have recently added to or reduced their stakes in POWL. Covestor Ltd grew its stake 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 buying an additional 41 shares in the last quarter. Chartwell Investment Partners LLC boosted its holdings in Powell Industries by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock worth $1,712,000 after acquiring an additional 60 shares during the period. Farther Finance Advisors LLC grew its position in 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 in the last quarter. Diversified Trust Co grew its position in Powell Industries by 7.1% in the third quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock valued at $385,000 after acquiring an additional 115 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Powell Industries by 64.3% during the third quarter. KBC Group NV now owns 322 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 126 shares during the period. 89.77% of the stock is currently 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.