Powell Industries (NASDAQ:POWL) Upgraded by StockNews.com to "Buy"

Powell Industries (NASDAQ:POWL - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday.

Powell Industries Stock Down 4.5 %

Powell Industries stock traded down $11.92 during mid-day trading on Wednesday, hitting $255.17. 525,906 shares of the company's stock were exchanged, compared to its average volume of 368,514. Powell Industries has a fifty-two week low of $72.80 and a fifty-two week high of $284.45. The company's 50 day simple moving average is $203.33 and its 200-day simple moving average is $171.99. The firm has a market capitalization of $3.06 billion, a P/E ratio of 30.31, a PEG ratio of 1.56 and a beta of 0.88.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share for the quarter, beating the consensus estimate of $2.16 by $1.63. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. The company had revenue of $288.17 million for the quarter, compared to analyst estimates of $222.18 million. During the same period in the prior year, the firm earned $1.52 earnings per share. The company's revenue was up 49.8% on a year-over-year basis. Research analysts expect that Powell Industries will post 12.01 EPS for the current year.

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 2,451 shares of Powell Industries stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $262.10, for a total value of $642,407.10. Following the completion of the transaction, the insider now owns 1,628,328 shares in the company, valued at $426,784,768.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Thomas W. Powell sold 17,549 shares of the firm's stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $256.33, for a total value of $4,498,335.17. Following the completion of the transaction, the insider now directly owns 1,630,779 shares in the company, valued at approximately $418,017,581.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Thomas W. Powell sold 2,451 shares of the business's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $262.10, for a total transaction of $642,407.10. Following the transaction, the insider now directly owns 1,628,328 shares of the company's stock, valued at approximately $426,784,768.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,350 shares of company stock worth $14,774,341 in the last ninety days. Company insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Powell Industries by 38.2% in the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company's stock worth $41,000 after buying an additional 79 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Powell Industries in the 2nd quarter valued at about $47,000. Quarry LP bought a new stake in shares of Powell Industries during the 2nd quarter valued at about $48,000. Plato Investment Management Ltd purchased a new position in shares of Powell Industries during the first quarter worth about $50,000. Finally, UMB Bank n.a. grew its holdings in shares of Powell Industries by 155.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the industrial products company's stock worth $70,000 after purchasing an additional 191 shares in the last quarter. 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.

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