Short Interest in Powell Industries, Inc. (NASDAQ:POWL) Declines By 16.3%

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

Insider Buying and Selling at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the sale, the insider now directly owns 677,265 shares of the company’s stock, valued at approximately $235,512,131.10. The trade was a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management acquired a new stake in Powell Industries in the 3rd quarter valued at about $30,000. Quest Partners LLC acquired a new stake in shares of Powell Industries in the third quarter valued at approximately $35,000. Farther Finance Advisors LLC raised 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 worth $44,000 after purchasing an additional 105 shares during the last quarter. Quarry LP bought a new position in Powell Industries in the 2nd quarter worth approximately $48,000. Finally, Covestor Ltd lifted 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 in the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries Price Performance

Shares of NASDAQ:POWL traded up $7.99 during trading on Thursday, reaching $257.23. The stock had a trading volume of 220,795 shares, compared to its average volume of 405,419. The stock has a market capitalization of $3.10 billion, a PE ratio of 20.93, a P/E/G ratio of 1.21 and a beta of 0.88. Powell Industries has a 52 week low of $76.29 and a 52 week high of $364.98. The business’s 50-day moving average price is $263.28 and its 200 day moving average price is $216.90.

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders 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 was Wednesday, November 20th. Powell Industries’s dividend payout ratio is currently 8.62%.

Analyst Ratings Changes

Several brokerages recently commented on POWL. Roth Mkm started coverage on Powell Industries in a research note on Wednesday, December 11th. They issued 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 research note on Tuesday, December 10th. Finally, StockNews.com raised shares of Powell Industries from a “hold” rating to a “buy” rating in a report 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.