Powell Industries (NASDAQ:POWL) Upgraded at StockNews.com

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

A number of other research firms have also weighed in on POWL. Roth Mkm initiated coverage on Powell Industries in a research note on Wednesday, December 11th. They set a “buy” rating and a $312.00 price objective for the company. Roth Capital raised Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th.

Powell Industries Price Performance

Shares of Powell Industries stock opened at $232.60 on Thursday. The stock has a market cap of $2.80 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.31 and a beta of 0.85. The firm has a fifty day moving average price of $274.72 and a 200 day moving average price of $209.15. Powell Industries has a 1 year low of $76.29 and a 1 year high of $364.98.

Insiders Place Their Bets

In other news, major shareholder Thomas W. Powell sold 17,549 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $256.33, for a total transaction of $4,498,335.17. Following the transaction, the insider now owns 1,630,779 shares in the company, valued at $418,017,581.07. This trade represents a 1.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 35,000 shares of company stock worth $9,340,842. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Powell Industries by 0.9% during the third quarter. State Street Corp now owns 362,717 shares of the industrial products company’s stock worth $80,520,000 after purchasing an additional 3,403 shares in the last quarter. American Century Companies Inc. boosted its holdings in Powell Industries by 15.0% in the 2nd quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after buying an additional 35,818 shares during the last quarter. Geode Capital Management LLC increased its stake in Powell Industries by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company’s stock worth $57,071,000 after buying an additional 9,692 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Powell Industries during the third quarter valued at approximately $30,038,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Powell Industries by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock valued at $14,271,000 after acquiring an additional 1,015 shares in 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.