Powell Industries (NASDAQ:POWL) Upgraded at Roth Capital

Roth Capital upgraded shares of Powell Industries (NASDAQ:POWL) to a strong-buy rating in a research report report published on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the company. StockNews.com raised Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday. Roth Mkm initiated coverage on Powell Industries in a research report on Wednesday. They set a “buy” rating and a $312.00 price target on the stock.

Powell Industries Stock Down 5.3 %

NASDAQ:POWL opened at $255.76 on Tuesday. The company has a market capitalization of $3.07 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.42 and a beta of 0.85. Powell Industries has a 52-week low of $76.29 and a 52-week high of $364.98. The stock has a fifty day simple moving average of $277.75 and a 200-day simple moving average of $205.19.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s payout ratio is 8.62%.

Insider Activity

In other news, major shareholder Thomas W. Powell sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $246.14, for a total value of $2,461,400.00. Following the completion of the sale, the insider now directly owns 1,658,328 shares in the company, valued at approximately $408,180,853.92. The trade was a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 60,000 shares of company stock worth $14,679,842. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Powell Industries

Institutional investors have recently made changes to their positions in the company. Cumberland Partners Ltd bought a new position in Powell Industries during the 3rd quarter worth $555,000. SG Americas Securities LLC bought a new position in Powell Industries during the 2nd quarter worth $1,403,000. Loomis Sayles & Co. L P bought a new position in Powell Industries during the 3rd quarter worth $7,225,000. Victory Capital Management Inc. grew its stake in Powell Industries by 1,119.3% during the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock worth $21,886,000 after buying an additional 90,504 shares during the last quarter. Finally, Great Valley Advisor Group Inc. grew its stake in Powell Industries by 34.8% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 10,947 shares of the industrial products company’s stock worth $2,430,000 after buying an additional 2,827 shares during the last quarter. 89.77% of the stock is currently 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.