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

Powell Industries, Inc. (NASDAQ:POWL)’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.

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

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.