Powell Industries (NASDAQ:POWL) Cut to “Hold” at 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 to clients and investors on Monday.

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

Powell Industries Trading Down 5.4 %

Shares of Powell Industries stock opened at $237.12 on Monday. Powell Industries has a twelve month low of $76.29 and a twelve month high of $364.98. The firm has a market capitalization of $2.85 billion, a PE ratio of 19.29, a P/E/G ratio of 1.31 and a beta of 0.88. The firm’s 50-day moving average price is $269.15 and its 200 day moving average price is $213.70.

Insider Activity at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the business’s 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 transaction, the insider now directly owns 677,265 shares in the company, valued at $235,512,131.10. The trade was a 0.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP purchased a new position in Powell Industries in the third quarter worth approximately $30,038,000. Victory Capital Management Inc. grew its holdings in shares of Powell Industries by 1,119.3% during the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock worth $21,886,000 after purchasing an additional 90,504 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of Powell Industries during the 2nd quarter worth about $11,658,000. Stephens Investment Management Group LLC purchased a new stake in Powell Industries in the 3rd quarter valued at about $13,606,000. Finally, Sanctuary Advisors LLC acquired a new position in Powell Industries in the third quarter valued at about $12,176,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

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.