Powell Industries (NASDAQ:POWL) Stock Price Up 8.7% – Here’s What Happened

Powell Industries, Inc. (NASDAQ:POWL)’s stock price traded up 8.7% during mid-day trading on Tuesday . The company traded as high as $285.00 and last traded at $284.14. 315,731 shares changed hands during trading, a decline of 19% from the average session volume of 387,471 shares. The stock had previously closed at $261.34.

Analysts Set New Price Targets

Several equities analysts recently weighed in on POWL shares. Roth Mkm started coverage on shares of Powell Industries in a research note on Wednesday, December 11th. They issued a “buy” rating and a $312.00 target price for the company. Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th.

Powell Industries Stock Performance

The firm’s fifty day simple moving average is $258.16 and its 200 day simple moving average is $219.77. The stock has a market capitalization of $3.49 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 1.36 and a beta of 0.88.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend was Wednesday, November 20th. Powell Industries’s dividend payout ratio is presently 8.62%.

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction on Friday, November 8th. The stock was 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 directly owns 677,265 shares in the company, valued at $235,512,131.10. This represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Powell Industries

A number of institutional investors have recently made changes to their positions in the stock. Cumberland Partners Ltd bought a new stake in Powell Industries during the third quarter valued at $555,000. Loomis Sayles & Co. L P bought a new stake in shares of Powell Industries during the 3rd quarter valued at about $7,225,000. Victory Capital Management Inc. boosted its position in shares of Powell Industries by 1,119.3% during the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock valued at $21,886,000 after purchasing an additional 90,504 shares in the last quarter. Great Valley Advisor Group Inc. grew its stake in Powell Industries by 34.8% during the third quarter. Great Valley Advisor Group Inc. now owns 10,947 shares of the industrial products company’s stock worth $2,430,000 after purchasing an additional 2,827 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Powell Industries by 5.7% in the third quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company’s stock worth $11,434,000 after purchasing an additional 2,793 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.