Powell Industries (NASDAQ:POWL) Stock Rating Lowered by StockNews.com

Powell Industries (NASDAQ:POWL) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Other equities analysts have also recently issued reports about the stock. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Roth Mkm assumed coverage on shares of Powell Industries in a research note on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price objective on the stock.

Powell Industries Stock Down 6.7 %

POWL opened at $290.44 on Wednesday. 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 is $256.74 and its two-hundred day moving average is $221.90. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 1.51 and a beta of 0.88.

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $347.74, for a total value of $1,738,700.00. Following the sale, the insider now owns 677,265 shares of the company’s stock, valued at $235,512,131.10. The trade was a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 the company. Wellington Management Group LLP purchased a new position in shares of Powell Industries during the 3rd quarter worth approximately $30,038,000. Victory Capital Management Inc. grew its holdings 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 period. Driehaus Capital Management LLC purchased a new position in Powell Industries in the second quarter worth $11,658,000. Stephens Investment Management Group LLC acquired a new stake in Powell Industries in the third quarter valued at $13,606,000. Finally, Sanctuary Advisors LLC acquired a new stake in Powell Industries in the third quarter valued at $12,176,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

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.