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

Powell Industries (NASDAQ:POWL - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday.

POWL has been the subject of several other research reports. Roth Mkm began coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They issued a "buy" rating and a $312.00 price objective for the company. Roth Capital raised shares of Powell Industries to a "strong-buy" rating in a research report on Tuesday, December 10th.

Powell Industries Stock Performance

Shares of NASDAQ:POWL traded down $9.28 during trading on Wednesday, reaching $231.97. 595,602 shares of the stock were exchanged, compared to its average volume of 386,285. Powell Industries has a 12-month low of $76.29 and a 12-month high of $364.98. The firm's 50-day moving average price is $277.38 and its 200 day moving average price is $206.48. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 1.31 and a beta of 0.85.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 25,000 shares of the firm's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the transaction, the insider now directly owns 682,265 shares in the company, valued at $145,704,513.40. This trade represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 60,000 shares of company stock worth $14,679,842. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Powell Industries

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new position in Powell Industries during the 3rd quarter valued at approximately $30,038,000. Victory Capital Management Inc. boosted its holdings in shares of Powell Industries by 1,119.3% during the third quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company's stock valued at $21,886,000 after acquiring an additional 90,504 shares during the period. Driehaus Capital Management LLC bought a new position in shares of Powell Industries during the second quarter worth about $11,658,000. Stephens Investment Management Group LLC acquired a new stake in shares of Powell Industries in the 3rd quarter worth about $13,606,000. Finally, Sanctuary Advisors LLC bought a new stake in Powell Industries in the 3rd quarter valued at about $12,176,000. 89.77% of the stock is owned by institutional investors.

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.

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