Powell Industries (NASDAQ:POWL) Downgraded to Hold Rating by StockNews.com

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

A number of other analysts also recently commented on POWL. Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Roth Mkm started coverage on Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price on the stock.

Powell Industries Stock Performance

Shares of POWL stock traded down $9.28 during mid-day trading on Wednesday, hitting $231.97. 595,602 shares of the stock traded hands, compared to its average volume of 386,285. The company’s 50-day simple moving average is $277.38 and its 200-day simple moving average is $206.48. Powell Industries has a twelve month low of $76.29 and a twelve month high of $364.98. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 1.31 and a beta of 0.85.

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the transaction, the insider now directly owns 682,265 shares of the company’s stock, valued at approximately $145,704,513.40. The trade was a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 60,000 shares of company stock valued at $14,679,842 over the last quarter. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hollencrest Capital Management acquired a new stake in shares of Powell Industries during the 3rd quarter valued at about $30,000. Quest Partners LLC acquired a new position in shares of Powell Industries during the 3rd quarter worth $35,000. Farther Finance Advisors LLC raised its holdings in shares of Powell Industries by 110.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 105 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Powell Industries in the 2nd quarter valued at $47,000. Finally, Quarry LP acquired a new position in Powell Industries during the second quarter worth $48,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

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.