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

Powell Industries (NASDAQ:POWL - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday.

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

Powell Industries Stock Up 3.7 %

Shares of NASDAQ POWL traded up $8.51 during midday trading on Tuesday, hitting $237.96. The stock had a trading volume of 276,558 shares, compared to its average volume of 433,532. The stock has a 50 day simple moving average of $266.38 and a 200-day simple moving average of $216.01. The company has a market capitalization of $2.87 billion, a PE ratio of 19.36, a P/E/G ratio of 1.31 and a beta of 0.88. Powell Industries has a 1 year low of $76.29 and a 1 year high of $364.98.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was 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 directly owns 677,265 shares in the company, valued at approximately $235,512,131.10. This represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Powell Industries

Several large investors have recently modified their holdings of POWL. State Street Corp raised its holdings in shares of Powell Industries by 0.9% in the 3rd quarter. State Street Corp now owns 362,717 shares of the industrial products company's stock valued at $80,520,000 after buying an additional 3,403 shares during the period. American Century Companies Inc. grew its position 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 valued at $39,347,000 after acquiring an additional 35,818 shares in the last quarter. Geode Capital Management LLC increased its stake in Powell Industries by 3.9% during the third quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company's stock worth $57,071,000 after purchasing an additional 9,692 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Powell Industries during the third quarter worth about $30,038,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Powell Industries by 1,119.3% in 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 purchasing an additional 90,504 shares during the period. Institutional investors and hedge funds own 89.77% of the company's stock.

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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