StockNews.com Downgrades Powell Industries (NASDAQ:POWL) to Hold

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

POWL has been the subject of several other research reports. Roth Capital raised shares of Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Roth Mkm initiated 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.

Powell Industries Stock Performance

Shares of NASDAQ POWL opened at $243.46 on Wednesday. Powell Industries has a 52-week low of $76.29 and a 52-week high of $364.98. The business has a fifty day moving average of $277.31 and a two-hundred day moving average of $206.74. The stock has a market cap of $2.93 billion, a PE ratio of 19.81, a PEG ratio of 1.31 and a beta of 0.85.

Insiders Place Their Bets

In other news, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the sale, the insider now owns 682,265 shares in the company, valued at $145,704,513.40. The trade was a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 60,000 shares of company stock valued at $14,679,842. Insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of Powell Industries by 5.7% during the third quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company’s stock worth $11,434,000 after buying an additional 2,793 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Powell Industries during the 3rd quarter worth $1,361,000. Franklin Resources Inc. raised its position in shares of Powell Industries by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 20,098 shares of the industrial products company’s stock valued at $4,462,000 after acquiring an additional 497 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Powell Industries during the 3rd quarter valued at $2,366,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Powell Industries in the 3rd quarter valued at $12,176,000. 89.77% of the stock is owned by institutional investors.

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.