Powell Industries, Inc. (NASDAQ:POWL) Sees Significant Decline in Short Interest

Powell Industries, Inc. (NASDAQ:POWL) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 1,390,000 shares, a decline of 16.3% from the December 15th total of 1,660,000 shares. Currently, 14.8% of the shares of the stock are sold short. Based on an average trading volume of 457,800 shares, the short-interest ratio is currently 3.0 days.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday. Roth Capital raised Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, Roth Mkm assumed coverage on Powell Industries in a report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price objective for the company.

Insiders Place Their Bets

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $347.74, for a total value of $1,738,700.00. Following the transaction, the insider now owns 677,265 shares in the company, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

Several institutional investors have recently modified their holdings of POWL. Covestor Ltd raised its holdings in Powell Industries by 21.8% during the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock worth $51,000 after buying an additional 41 shares during the period. Chartwell Investment Partners LLC raised its holdings in shares of Powell Industries by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock worth $1,712,000 after acquiring an additional 60 shares during the period. Farther Finance Advisors LLC lifted its position in 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 acquiring an additional 105 shares in the last quarter. Diversified Trust Co boosted its stake in Powell Industries by 7.1% in the 3rd quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock worth $385,000 after purchasing an additional 115 shares during the period. Finally, KBC Group NV increased its holdings in Powell Industries by 64.3% during the 3rd quarter. KBC Group NV now owns 322 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

Powell Industries Price Performance

POWL traded up $4.11 during mid-day trading on Friday, hitting $261.34. The stock had a trading volume of 319,653 shares, compared to its average volume of 385,190. The stock’s fifty day simple moving average is $259.98 and its 200-day simple moving average is $218.52. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 1.21 and a beta of 0.88. Powell Industries has a 1-year low of $76.29 and a 1-year high of $364.98.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders 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 dividend yield of 0.41%. The ex-dividend date was Wednesday, November 20th. Powell Industries’s dividend payout ratio is currently 8.62%.

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.