Powell Industries (NASDAQ:POWL) Hits New 1-Year High - Here's What Happened

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $289.00 and last traded at $286.88, with a volume of 57759 shares traded. The stock had previously closed at $268.85.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Powell Industries from a "hold" rating to a "buy" rating in a research report on Wednesday, October 23rd.

Powell Industries Stock Performance

The business has a 50-day moving average of $218.59 and a 200-day moving average of $180.28. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 1.60 and a beta of 0.86.

Insider Activity at Powell Industries

In related news, CEO Brett Alan Cope sold 2,750 shares of the firm's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.42, for a total transaction of $446,655.00. Following the completion of the transaction, the chief executive officer now directly owns 145,987 shares in the company, valued at $23,711,208.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.42, for a total value of $446,655.00. Following the completion of the transaction, the chief executive officer now owns 145,987 shares in the company, valued at approximately $23,711,208.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Thomas W. Powell sold 2,451 shares of Powell Industries stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $262.10, for a total value of $642,407.10. Following the completion of the transaction, the insider now owns 1,628,328 shares of the company's stock, valued at $426,784,768.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,350 shares of company stock worth $14,614,341 in the last three months. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Powell Industries

Several institutional investors have recently added to or reduced their stakes in POWL. SG Americas Securities LLC acquired a new position in Powell Industries during the second quarter worth approximately $1,403,000. Quadrature Capital Ltd acquired a new position in Powell Industries during the first quarter worth approximately $1,927,000. Stephens Investment Management Group LLC acquired a new position in Powell Industries during the third quarter worth approximately $13,606,000. FORA Capital LLC acquired a new position in Powell Industries during the first quarter worth approximately $1,000,000. Finally, Raymond James & Associates increased its position in Powell Industries by 18.9% during the third quarter. Raymond James & Associates now owns 21,276 shares of the industrial products company's stock worth $4,723,000 after buying an additional 3,385 shares during the period. Hedge funds and other institutional investors own 89.77% of the company's stock.

About Powell Industries

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.