Powell Industries (NASDAQ:POWL) Coverage Initiated at Roth Mkm

Roth Mkm started coverage on shares of Powell Industries (NASDAQ:POWL - Free Report) in a report issued on Wednesday, Marketbeat reports. The firm issued a buy rating and a $312.00 price target on the industrial products company's stock.

Separately, StockNews.com upgraded Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday.

Powell Industries Price Performance

POWL stock traded up $20.16 during trading on Wednesday, reaching $269.97. 649,973 shares of the company were exchanged, compared to its average volume of 386,285. Powell Industries has a twelve month low of $76.29 and a twelve month high of $364.98. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 1.42 and a beta of 0.85. The company has a 50-day moving average of $276.51 and a two-hundred day moving average of $204.37.

Powell Industries Announces Dividend

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. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a yield of 0.39%. Powell Industries's dividend payout ratio (DPR) is presently 8.62%.

Insider Buying and Selling

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. Insiders have sold a total of 60,000 shares of company stock worth $14,679,842 in the last ninety days. Company insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Powell Industries

A number of institutional investors have recently made changes to their positions in the stock. Covestor Ltd boosted its stake in shares of Powell Industries by 21.8% in the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 41 shares during the last quarter. Chartwell Investment Partners LLC lifted its holdings in Powell Industries by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company's stock valued at $1,712,000 after buying an additional 60 shares during the period. Farther Finance Advisors LLC boosted its position in Powell Industries by 110.5% during 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 last quarter. Diversified Trust Co grew its holdings in Powell Industries by 7.1% during the 3rd quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company's stock worth $385,000 after acquiring an additional 115 shares during the period. Finally, KBC Group NV grew its holdings in Powell Industries by 64.3% during the 3rd quarter. KBC Group NV now owns 322 shares of the industrial products company's stock worth $71,000 after acquiring an additional 126 shares during the period. 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.