Powell Industries (NASDAQ:POWL) Share Price Crosses Above 200-Day Moving Average of $24.43

Powell Industries, Inc. (NASDAQ:POWLGet Rating) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $24.43 and traded as high as $26.72. Powell Industries shares last traded at $26.62, with a volume of 17,685 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Powell Industries in a report on Wednesday, October 12th. They issued a “buy” rating on the stock.

Powell Industries Trading Up 1.3 %

The stock has a market capitalization of $317.59 million, a PE ratio of 38.51 and a beta of 1.18. The firm has a 50 day moving average price of $23.44 and a 200 day moving average price of $24.45.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Wednesday, November 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $1.04 dividend on an annualized basis and a yield of 3.86%. Powell Industries’s payout ratio is presently 148.57%.

Hedge Funds Weigh In On Powell Industries

Large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in Powell Industries by 32.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 567,480 shares of the industrial products company’s stock valued at $11,020,000 after purchasing an additional 138,311 shares during the period. Acuitas Investments LLC raised its holdings in shares of Powell Industries by 36.8% during the 2nd quarter. Acuitas Investments LLC now owns 195,969 shares of the industrial products company’s stock worth $4,580,000 after acquiring an additional 52,729 shares in the last quarter. Heartland Advisors Inc. raised its holdings in shares of Powell Industries by 8.3% during the 3rd quarter. Heartland Advisors Inc. now owns 472,044 shares of the industrial products company’s stock worth $9,951,000 after acquiring an additional 36,136 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Powell Industries by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 625,805 shares of the industrial products company’s stock worth $12,153,000 after acquiring an additional 30,476 shares in the last quarter. Finally, Engineers Gate Manager LP grew its position in Powell Industries by 123.9% in the 1st quarter. Engineers Gate Manager LP now owns 31,997 shares of the industrial products company’s stock valued at $621,000 after acquiring an additional 17,704 shares during the last quarter. 64.52% of the stock is currently owned by hedge funds and other institutional investors.

About Powell Industries

(Get Rating)

Powell Industries, Inc engages in the development, design, manufacture and provision of services of custom-engineered products and systems. Its products include integrated power control room substation, custom-engineered modules, electrical houses, traditional and arc-resistant distribution switch gear and control gear, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers and bus duct systems.

Further Reading

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