Powell Industries, Inc. (NASDAQ:POWL) Short Interest Update

Powell Industries, Inc. (NASDAQ:POWL) was the target of a significant decline in short interest in 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. Based on an average daily volume of 457,800 shares, the days-to-cover ratio is currently 3.0 days. Approximately 14.8% of the company’s stock are sold short.

Insider Transactions at Powell Industries

In other 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Powell Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in POWL. Wellington Management Group LLP acquired a new stake in shares of Powell Industries during the 3rd quarter worth about $30,038,000. Victory Capital Management Inc. lifted its position in Powell Industries by 1,119.3% during the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock worth $21,886,000 after acquiring an additional 90,504 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Powell Industries during the second quarter worth approximately $11,658,000. Stephens Investment Management Group LLC acquired a new position in shares of Powell Industries in the third quarter valued at approximately $13,606,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Powell Industries during the third quarter worth approximately $12,176,000. 89.77% of the stock is owned by institutional investors.

Powell Industries Price Performance

NASDAQ POWL traded up $4.11 during trading on Friday, reaching $261.34. 319,653 shares of the company’s stock were exchanged, compared to its average volume of 385,190. The business has a 50 day moving average price of $259.98 and a 200-day moving average price of $218.52. The stock has a market capitalization of $3.15 billion, a P/E ratio of 21.26, a PEG ratio of 1.21 and a beta of 0.88. Powell Industries has a fifty-two week low of $76.29 and a fifty-two week high of $364.98.

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 paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.

Analyst Ratings Changes

Several research firms have weighed in on POWL. Roth Mkm began coverage on Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price target on the stock. Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Tuesday.

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.