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

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

Powell Industries Trading Up 2.6 %

NASDAQ POWL opened at $346.37 on Thursday. The company has a market capitalization of $4.15 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 2.00 and a beta of 0.86. Powell Industries has a 1-year low of $75.05 and a 1-year high of $352.75. The firm’s fifty day simple moving average is $231.55 and its 200-day simple moving average is $185.13.

Insider Activity at Powell Industries

In other news, Director James W. Mcgill sold 6,600 shares of the stock in a transaction on 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 transaction, the director now owns 9,660 shares in the company, valued at $1,795,214.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Powell Industries news, Director James W. Mcgill sold 6,600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the sale, the director now owns 9,660 shares of the company’s stock, valued at $1,795,214.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Thomas W. Powell sold 10,000 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $246.14, for a total value of $2,461,400.00. Following the transaction, the insider now directly owns 1,658,328 shares in the company, valued at approximately $408,180,853.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,600 shares of company stock valued at $14,167,686. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Powell Industries

A number of institutional investors and hedge funds have recently modified their holdings of POWL. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Powell Industries in the 1st quarter worth $493,000. BNP Paribas Financial Markets lifted its position in shares of Powell Industries by 164.0% during the 1st quarter. BNP Paribas Financial Markets now owns 11,425 shares of the industrial products company’s stock worth $1,626,000 after purchasing an additional 7,098 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in Powell Industries during the 1st quarter valued at approximately $450,000. Mutual of America Capital Management LLC acquired a new stake in Powell Industries in the 1st quarter valued at approximately $226,000. Finally, Texas Permanent School Fund Corp grew its holdings in Powell Industries by 2.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 8,065 shares of the industrial products company’s stock valued at $1,148,000 after buying an additional 175 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

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.