Powell Industries (NASDAQ:POWL) Raised to "Buy" at StockNews.com

StockNews.com upgraded shares of Powell Industries (NASDAQ:POWL - Free Report) from a hold rating to a buy rating in a report issued on Friday.

Powell Industries Stock Down 7.3 %

POWL traded down $21.98 during trading on Friday, reaching $278.53. 657,851 shares of the company were exchanged, compared to its average volume of 372,566. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 1.82 and a beta of 0.86. Powell Industries has a 12-month low of $75.05 and a 12-month high of $364.98. The company's 50-day moving average is $247.95 and its two-hundred day moving average is $191.07.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be given a dividend of $0.265 per share. 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 0.38%. Powell Industries's dividend payout ratio (DPR) is currently 9.92%.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 25,000 shares of the company's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the transaction, the insider now owns 682,265 shares in the company, valued at $145,704,513.40. The trade was a 3.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James W. Mcgill sold 6,600 shares of the firm's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the sale, the director now owns 9,660 shares of the company's stock, valued at approximately $1,795,214.40. This represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,600 shares of company stock valued at $15,906,386 over the last quarter. Corporate insiders own 2.20% of the company's stock.

Institutional Trading of Powell Industries

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cumberland Partners Ltd bought a new position in shares of Powell Industries during the 3rd quarter valued at $555,000. SG Americas Securities LLC bought a new stake in Powell Industries during the second quarter valued at approximately $1,403,000. Quadrature Capital Ltd bought a new position in Powell Industries in the first quarter worth approximately $1,927,000. Raymond James & Associates raised its position in Powell Industries by 18.9% in the third quarter. Raymond James & Associates now owns 21,276 shares of the industrial products company's stock worth $4,723,000 after acquiring an additional 3,385 shares during the period. Finally, Stephens Investment Management Group LLC purchased a new position in shares of Powell Industries during the 3rd quarter worth $13,606,000. 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.