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

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

Powell Industries Stock Up 0.3 %

Shares of NASDAQ POWL opened at $232.22 on Friday. Powell Industries has a fifty-two week low of $72.51 and a fifty-two week high of $242.00. The business has a 50 day moving average price of $173.82 and a two-hundred day moving average price of $160.06. The firm has a market cap of $2.78 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.30 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $1.63. The business had revenue of $288.17 million during the quarter, compared to the consensus estimate of $222.18 million. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 earnings per share. On average, analysts anticipate that Powell Industries will post 12.01 earnings per share for the current year.

Insider Buying and Selling

In other 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 stock was sold at an average price of $213.56, for a total value of $5,339,000.00. Following the completion of the sale, the insider now directly owns 682,265 shares in the company, valued at approximately $145,704,513.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director James W. Mcgill sold 6,600 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the sale, the director now owns 9,660 shares in the company, valued at $1,795,214.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Thomas W. Powell sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the transaction, the insider now directly owns 682,265 shares in the company, valued at approximately $145,704,513.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,100 shares of company stock worth $7,563,552. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

Several institutional investors have recently made changes to their positions in the stock. Transform Wealth LLC boosted its position in Powell Industries by 25,920.5% during the 2nd quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock valued at $240,075,000 after purchasing an additional 1,667,728 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Powell Industries by 2.7% during the first quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock valued at $93,410,000 after acquiring an additional 17,177 shares during the period. American Century Companies Inc. grew its position in shares of Powell Industries by 15.0% during the second quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after acquiring an additional 35,818 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Powell Industries by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock worth $14,271,000 after acquiring an additional 1,015 shares during the period. Finally, Driehaus Capital Management LLC bought a new stake in Powell Industries in the 2nd quarter valued at about $11,658,000. 89.77% of the stock is owned by 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.