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 report issued on Thursday.

Powell Industries Stock Performance

Powell Industries stock traded down $10.21 during trading on Thursday, reaching $337.56. 398,825 shares of the company’s stock were exchanged, compared to its average volume of 369,630. The company’s 50-day moving average is $224.48 and its two-hundred day moving average is $182.60. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 1.54 and a beta of 0.86. Powell Industries has a 52-week low of $75.05 and a 52-week high of $350.48.

Insiders Place Their Bets

In other news, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $162.42, for a total transaction of $446,655.00. Following the sale, the chief executive officer now owns 145,987 shares of the company’s stock, valued at approximately $23,711,208.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Powell Industries news, major shareholder Thomas W. Powell sold 2,451 shares of Powell Industries stock in a transaction on Friday, October 11th. The shares were sold at an average price of $262.10, for a total transaction of $642,407.10. Following the completion of the sale, the insider now owns 1,628,328 shares of the company’s stock, valued at $426,784,768.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction on Friday, August 9th. The shares were sold at an average price of $162.42, for a total transaction of $446,655.00. Following the sale, the chief executive officer now directly owns 145,987 shares of the company’s stock, valued at $23,711,208.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,350 shares of company stock valued at $14,614,341 over the last quarter. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Powell Industries in the second quarter valued at approximately $1,403,000. Quadrature Capital Ltd acquired a new stake in Powell Industries in the first quarter valued at $1,927,000. Stephens Investment Management Group LLC acquired a new stake in Powell Industries in the third quarter valued at $13,606,000. Raymond James & Associates lifted its stake in shares of Powell Industries by 18.9% during the 3rd 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 last quarter. Finally, Virtu Financial LLC lifted its stake in shares of Powell Industries by 198.8% during the 1st quarter. Virtu Financial LLC now owns 7,243 shares of the industrial products company’s stock worth $1,031,000 after buying an additional 4,819 shares during the last quarter. Institutional investors 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.