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

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

Other research analysts also recently issued research reports about the company. Roth Mkm started coverage on Powell Industries in a research note on Wednesday, December 11th. They issued a “buy” rating and a $312.00 target price on the stock. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th.

Powell Industries Price Performance

Powell Industries stock traded up $4.73 during trading hours on Monday, hitting $250.63. The company had a trading volume of 324,250 shares, compared to its average volume of 461,350. Powell Industries has a fifty-two week low of $76.29 and a fifty-two week high of $364.98. The firm has a market capitalization of $3.01 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 1.31 and a beta of 0.88. The firm’s fifty day moving average is $269.63 and its 200-day moving average is $213.11.

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 2,451 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $262.10, for a total value of $642,407.10. Following the completion of the sale, the insider now directly owns 1,628,328 shares in the company, valued at approximately $426,784,768.80. The trade was a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 25,000 shares of company stock worth $6,879,442. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of POWL. Wellington Management Group LLP bought a new position in shares of Powell Industries in the third quarter worth about $30,038,000. Victory Capital Management Inc. lifted its holdings in shares of 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 buying an additional 90,504 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Powell Industries in the second quarter valued at approximately $11,658,000. Stephens Investment Management Group LLC acquired a new stake in shares of Powell Industries in the third quarter worth $13,606,000. Finally, Sanctuary Advisors LLC bought a new position in Powell Industries during the third quarter worth $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.