Powell Industries (NASDAQ:POWL) Stock Price Up 8.7% – Time to Buy?

Shares of Powell Industries, Inc. (NASDAQ:POWL) shot up 8.7% during trading on Tuesday . The company traded as high as $285.00 and last traded at $284.14. Approximately 315,731 shares traded hands during trading, a decline of 19% from the average daily volume of 387,471 shares. The stock had previously closed at $261.34.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on POWL. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th. StockNews.com cut shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Roth Mkm started coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price objective for the company.

Powell Industries Trading Down 6.7 %

The stock 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. The firm has a 50-day simple moving average of $256.74 and a two-hundred day simple moving average of $221.90.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th were given a dividend of $0.265 per share. 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 dividend payout ratio is 8.62%.

Insider Buying and Selling at Powell Industries

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

A number of large investors have recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC acquired a new position in Powell Industries in the 4th quarter valued at $397,000. Cibc World Market Inc. increased its position in shares of Powell Industries by 438.8% in the fourth quarter. Cibc World Market Inc. now owns 60,746 shares of the industrial products company’s stock worth $13,464,000 after purchasing an additional 49,471 shares during the period. Perigon Wealth Management LLC bought a new position in shares of Powell Industries in the fourth quarter worth $251,000. Bay Rivers Group raised 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 purchasing an additional 1,177 shares in the last quarter. Finally, KBC Group NV lifted its position in Powell Industries by 35.1% during the fourth quarter. KBC Group NV now owns 435 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 113 shares during the period. Institutional investors and hedge funds 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.