Powell Industries (NASDAQ:POWL) Sets New 12-Month High – Here’s Why

by · The Cerbat Gem

Powell Industries, Inc. (NASDAQ:POWL – Get Free Report)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $289.00 and last traded at $286.88, with a volume of 57759 shares trading hands. The stock had previously closed at $268.85.

Analysts Set New Price Targets

Separately, StockNews.com raised Powell Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd.

Get Our Latest Analysis on Powell Industries

Powell Industries Stock Up 18.1 %

The company has a market cap of $4.17 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 1.54 and a beta of 0.86. The stock’s 50-day simple moving average is $224.48 and its 200 day simple moving average is $182.60.

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total value of $5,339,000.00. Following the sale, the insider now owns 682,265 shares of the company’s stock, valued at $145,704,513.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Thomas W. Powell sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the transaction, the insider now directly owns 682,265 shares in the company, valued at $145,704,513.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Thomas W. Powell sold 17,549 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $256.33, for a total transaction of $4,498,335.17. Following the sale, the insider now owns 1,630,779 shares in the company, valued at $418,017,581.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,350 shares of company stock valued at $14,614,341. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

A number of hedge funds have recently added to or reduced their stakes in POWL. Covestor Ltd increased its position in shares of Powell Industries by 21.8% during the third quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 41 shares during the period. Chartwell Investment Partners LLC increased its holdings in Powell Industries by 0.8% during 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 during the period. GAMMA Investing LLC raised its position in Powell Industries by 38.2% in the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 79 shares in the last quarter. Farther Finance Advisors LLC boosted its stake 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 valued at $44,000 after buying an additional 105 shares during the period. Finally, Diversified Trust Co grew its position in shares of Powell Industries by 7.1% during the third quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock worth $385,000 after buying an additional 115 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

About Powell Industries

(Get Free Report)

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.

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