StockNews.com Downgrades Powell Industries (NASDAQ:POWL) to Hold

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

Powell Industries Price Performance

NASDAQ POWL opened at $289.88 on Friday. The company has a fifty day moving average of $260.58 and a two-hundred day moving average of $196.09. Powell Industries has a 1 year low of $75.05 and a 1 year high of $364.98. The company has a market capitalization of $3.48 billion, a PE ratio of 23.59, a P/E/G ratio of 1.65 and a beta of 0.86.

Insider Transactions at Powell Industries

In other news, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the completion of the sale, the director now owns 9,660 shares in the company, valued at $1,795,214.40. This represents a 40.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Thomas W. Powell sold 10,000 shares of Powell Industries stock in a transaction on Monday, October 7th. The shares were sold at an average price of $246.14, for a total transaction of $2,461,400.00. Following the completion of the transaction, the insider now owns 1,658,328 shares in the company, valued at approximately $408,180,853.92. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,600 shares of company stock worth $15,906,386. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management purchased a new stake in Powell Industries in the 3rd quarter valued at approximately $30,000. Quest Partners LLC purchased a new stake in shares of Powell Industries in the third quarter valued at approximately $35,000. GAMMA Investing LLC grew its holdings in Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 79 shares during the period. Farther Finance Advisors LLC raised its position in Powell Industries by 110.5% in the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 105 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in Powell Industries in the second quarter valued at $47,000. 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.