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

Powell Industries (NASDAQ:POWL) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Powell Industries Stock Performance

Shares of NASDAQ:POWL opened at $242.99 on Friday. Powell Industries has a 52-week low of $72.51 and a 52-week high of $248.07. The company has a market cap of $2.91 billion, a P/E ratio of 28.86, a P/E/G ratio of 1.30 and a beta of 0.88. The stock’s 50-day moving average is $177.86 and its 200-day moving average is $161.18.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $3.79 EPS for the quarter, topping the consensus estimate of $2.16 by $1.63. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. The company had revenue of $288.17 million for the quarter, compared to the consensus estimate of $222.18 million. During the same period in the previous year, the business posted $1.52 EPS. The company’s revenue for the quarter was up 49.8% on a year-over-year basis. As a group, equities analysts predict that Powell Industries will post 12.01 EPS for the current year.

Insider Transactions at Powell Industries

In related news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction dated 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 sale, the insider now directly owns 682,265 shares of the company’s stock, valued at $145,704,513.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Powell Industries news, CEO Brett Alan Cope sold 2,750 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $142.31, for a total value of $391,352.50. Following the sale, the chief executive officer now owns 148,737 shares of the company’s stock, valued at $21,166,762.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Thomas W. Powell sold 25,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $145,704,513.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,100 shares of company stock worth $7,563,552. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Powell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Powell Industries in the 2nd quarter valued at approximately $1,403,000. Quadrature Capital Ltd acquired a new position in Powell Industries during the first quarter worth $1,927,000. Commonwealth Equity Services LLC bought a new position in shares of Powell Industries during the first quarter valued at $1,628,000. FORA Capital LLC acquired a new stake in shares of Powell Industries in the 1st quarter valued at $1,000,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Powell Industries by 471.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 31,258 shares of the industrial products company’s stock worth $4,448,000 after purchasing an additional 25,789 shares during the last quarter. Institutional investors 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.