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

Powell Industries (NASDAQ:POWLGet Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

POWL has been the subject of a number of other research reports. Roth Capital upgraded Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th. Roth Mkm began coverage on shares of Powell Industries in a report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price for the company.

Get Our Latest Stock Report on POWL

Powell Industries Price Performance

NASDAQ POWL opened at $290.44 on Wednesday. The business has a 50 day moving average price of $256.74 and a 200 day moving average price of $221.90. The company has a market capitalization of $3.50 billion, a P/E ratio of 23.63, a PEG ratio of 1.51 and a beta of 0.88. 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 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the transaction, the insider now owns 677,265 shares of the company’s stock, valued at $235,512,131.10. The trade was a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Powell Industries

A number of hedge funds have recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new position in Powell Industries in the 4th quarter valued at $397,000. Cibc World Market Inc. increased its stake in Powell Industries by 438.8% in the fourth quarter. Cibc World Market Inc. now owns 60,746 shares of the industrial products company’s stock valued at $13,464,000 after purchasing an additional 49,471 shares during the last quarter. Perigon Wealth Management LLC purchased a new position in Powell Industries during the fourth quarter worth about $251,000. Bay Rivers Group boosted its stake in Powell Industries by 105.4% in the 4th quarter. Bay Rivers Group now owns 2,294 shares of the industrial products company’s stock worth $508,000 after buying an additional 1,177 shares during the last quarter. Finally, KBC Group NV boosted its stake in Powell Industries by 35.1% in the 4th quarter. KBC Group NV now owns 435 shares of the industrial products company’s stock worth $96,000 after buying an additional 113 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Company Profile

(Get Free Report)

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.

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