Powell Industries (NASDAQ:POWL) Upgraded by StockNews.com to "Buy" Rating

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

POWL has been the subject of a number of other research reports. Roth Mkm initiated coverage on Powell Industries in a report on Wednesday, December 11th. They set 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.

Powell Industries Stock Down 0.6 %

Shares of POWL stock traded down $1.32 on Thursday, reaching $231.28. 475,776 shares of the stock were exchanged, compared to its average volume of 389,287. The stock has a market cap of $2.78 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 1.31 and a beta of 0.85. The firm has a 50 day moving average of $273.84 and a two-hundred day moving average of $209.31. Powell Industries has a 1-year low of $76.29 and a 1-year high of $364.98.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Wednesday, November 20th. Powell Industries's payout ratio is 8.62%.

Insider Activity at Powell Industries

In other news, major shareholder Thomas W. Powell sold 10,000 shares of the company's stock in a transaction 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 directly owns 1,658,328 shares in the company, valued at approximately $408,180,853.92. This represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 35,000 shares of company stock worth $9,340,842. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Powell Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in POWL. Raymond James & Associates boosted its stake in Powell Industries by 39.3% during the 2nd quarter. Raymond James & Associates now owns 17,891 shares of the industrial products company's stock valued at $2,566,000 after acquiring an additional 5,052 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Powell Industries by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company's stock worth $14,271,000 after purchasing an additional 1,015 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Powell Industries by 77.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 11,888 shares of the industrial products company's stock worth $1,705,000 after purchasing an additional 5,201 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Powell Industries by 42.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,344 shares of the industrial products company's stock valued at $336,000 after buying an additional 693 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in Powell Industries by 11.0% during the second quarter. Panagora Asset Management Inc. now owns 40,858 shares of the industrial products company's stock valued at $5,859,000 after buying an additional 4,054 shares in the last quarter. 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.