Powell Industries (NASDAQ:POWL) Rating Lowered to “Hold” at StockNews.com

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

Several other equities research analysts also recently issued reports on POWL. Roth Mkm initiated coverage on Powell Industries in a report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price target for the company. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th.

Powell Industries Stock Performance

POWL opened at $243.46 on Wednesday. The firm’s fifty day moving average is $277.31 and its two-hundred day moving average is $206.74. The firm has a market cap of $2.93 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.31 and a beta of 0.85. Powell Industries has a twelve month low of $76.29 and a twelve month high of $364.98.

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 2,451 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $262.10, for a total value of $642,407.10. Following the sale, the insider now owns 1,628,328 shares in the company, valued at approximately $426,784,768.80. This represents a 0.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 60,000 shares of company stock worth $14,679,842 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Powell Industries by 5.7% in the third quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company’s stock valued at $11,434,000 after acquiring an additional 2,793 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Powell Industries in the 3rd quarter worth about $1,361,000. Franklin Resources Inc. boosted its holdings in Powell Industries by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 20,098 shares of the industrial products company’s stock valued at $4,462,000 after purchasing an additional 497 shares during the period. World Investment Advisors LLC acquired a new position in shares of Powell Industries during the 3rd quarter worth approximately $2,366,000. 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 and hedge funds.

Powell Industries Company Profile

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.