Powell Industries (NASDAQ:POWL) Stock Price Up 5.8% – Here’s What Happened

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

Analyst Ratings Changes

Several analysts have commented on POWL shares. StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday. Roth Mkm assumed coverage on Powell Industries in a research note on Wednesday. They issued a “buy” rating and a $312.00 price objective on the stock.

Powell Industries Trading Up 8.1 %

The company has a market cap of $3.25 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 1.42 and a beta of 0.85. The firm has a fifty day moving average of $276.51 and a two-hundred day moving average of $204.37.

Powell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 0.39%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 1,658,328 shares of the company’s stock, valued at $408,180,853.92. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 60,000 shares of company stock worth $14,679,842. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD purchased a new position in shares of Powell Industries in the 1st quarter worth about $375,000. SG Americas Securities LLC purchased a new stake in Powell Industries in the second quarter worth approximately $1,403,000. Diversified Trust Co grew its position in Powell Industries by 8.7% during the second quarter. Diversified Trust Co now owns 1,618 shares of the industrial products company’s stock valued at $232,000 after acquiring an additional 129 shares during the last quarter. Great Valley Advisor Group Inc. grew its position in Powell Industries by 171.3% during the second quarter. Great Valley Advisor Group Inc. now owns 8,120 shares of the industrial products company’s stock valued at $1,165,000 after acquiring an additional 5,127 shares during the last quarter. Finally, Raymond James & Associates raised its stake in shares of Powell Industries by 39.3% during the second quarter. Raymond James & Associates now owns 17,891 shares of the industrial products company’s stock worth $2,566,000 after acquiring an additional 5,052 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

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.