Powell Industries (NASDAQ:POWL) Trading 8.7% Higher – Still a Buy?

Powell Industries, Inc. (NASDAQ:POWL)’s share price shot up 8.7% during mid-day trading on Tuesday . The stock traded as high as $285.00 and last traded at $284.14. 315,731 shares changed hands during trading, a decline of 19% from the average session volume of 387,471 shares. The stock had previously closed at $261.34.

Analysts Set New Price Targets

A number of analysts have recently commented on POWL shares. StockNews.com cut Powell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, Roth Mkm began coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price target on the stock.

Powell Industries Trading Down 6.7 %

The company has a fifty day moving average price of $256.74 and a two-hundred day moving average price of $221.90. The firm has a market cap of $3.50 billion, a P/E ratio of 23.63, a PEG ratio of 1.51 and a beta of 0.88.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Wednesday, November 20th. Powell Industries’s payout ratio is presently 8.62%.

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the transaction, the insider now owns 677,265 shares of the company’s stock, valued at approximately $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Powell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC bought a new stake in shares of Powell Industries during the 4th quarter worth approximately $397,000. Cibc World Market Inc. increased its holdings in Powell Industries by 438.8% during the fourth quarter. Cibc World Market Inc. now owns 60,746 shares of the industrial products company’s stock worth $13,464,000 after buying an additional 49,471 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in Powell Industries during the fourth quarter worth $251,000. Bay Rivers Group lifted its stake in Powell Industries by 105.4% in the fourth quarter. Bay Rivers Group now owns 2,294 shares of the industrial products company’s stock valued at $508,000 after acquiring an additional 1,177 shares during the last quarter. Finally, KBC Group NV lifted its stake in Powell Industries by 35.1% in the fourth quarter. KBC Group NV now owns 435 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 113 shares during the last quarter. 89.77% of the stock is owned by institutional investors.

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.