Powell Industries (NASDAQ:POWL) Shares Up 5.9% – Here’s Why

Powell Industries, Inc. (NASDAQ:POWL) shares traded up 5.9% during trading on Tuesday . The stock traded as high as $306.10 and last traded at $305.95. 217,827 shares were traded during mid-day trading, a decline of 42% from the average session volume of 372,491 shares. The stock had previously closed at $289.01.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a report on Friday, November 15th.

Powell Industries Trading Up 9.9 %

The company has a market cap of $3.45 billion, a PE ratio of 23.42, a P/E/G ratio of 1.79 and a beta of 0.86. The business has a fifty day moving average of $258.15 and a 200-day moving average of $194.66.

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 issued 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 0.37%. Powell Industries’s dividend payout ratio is presently 8.62%.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the sale, the insider now directly owns 677,265 shares of the company’s stock, valued at approximately $235,512,131.10. The trade was a 0.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total value of $1,226,544.00. Following the sale, the director now directly owns 9,660 shares in the company, valued at approximately $1,795,214.40. The trade was a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,600 shares of company stock worth $15,906,386 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Several large investors have recently bought and sold shares of the company. Covestor Ltd boosted its position 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 worth $51,000 after purchasing an additional 41 shares in the last quarter. Chartwell Investment Partners LLC boosted its position in shares of Powell Industries by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock worth $1,712,000 after purchasing an additional 60 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Powell Industries by 38.2% in the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 79 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Powell Industries by 110.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 105 shares in the last quarter. Finally, Diversified Trust Co boosted its position in shares of Powell Industries by 7.1% in the 3rd quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock worth $385,000 after purchasing an additional 115 shares in the last quarter. 89.77% of the stock is owned by institutional investors.

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.