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

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

Powell Industries Stock Up 0.7 %

Shares of Powell Industries stock opened at $289.88 on Friday. The firm has a market cap of $3.48 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 1.65 and a beta of 0.86. Powell Industries has a 52 week low of $75.05 and a 52 week high of $364.98. The business’s fifty day simple moving average is $260.58 and its 200-day simple moving average is $196.09.

Insider Activity

In related 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 value of $5,339,000.00. Following the sale, the insider now owns 682,265 shares in the company, valued at approximately $145,704,513.40. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James W. Mcgill sold 6,600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total value of $1,226,544.00. Following the transaction, the director now owns 9,660 shares of the company’s stock, valued at $1,795,214.40. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,600 shares of company stock valued at $15,906,386. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

Hedge funds have recently added to or reduced their stakes in the business. Cumberland Partners Ltd purchased a new stake in shares of Powell Industries during the third quarter worth $555,000. SG Americas Securities LLC acquired a new stake in Powell Industries in the 2nd quarter valued at about $1,403,000. Victory Capital Management Inc. boosted its stake in shares of Powell Industries by 1,119.3% in the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock valued at $21,886,000 after buying an additional 90,504 shares during the period. Principal Financial Group Inc. grew its position 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 in the last quarter. Finally, Raymond James & Associates increased its stake in shares of Powell Industries by 18.9% during the third quarter. Raymond James & Associates now owns 21,276 shares of the industrial products company’s stock worth $4,723,000 after buying an additional 3,385 shares during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.

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.