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

Powell Industries (NASDAQ:POWL) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Powell Industries Trading Down 3.1 %

Shares of NASDAQ POWL traded down $7.96 during mid-day trading on Tuesday, reaching $249.81. The company had a trading volume of 502,415 shares, compared to its average volume of 385,177. The company has a 50-day moving average price of $276.51 and a two-hundred day moving average price of $204.37. The stock has a market cap of $3.00 billion, a PE ratio of 20.33, a P/E/G ratio of 1.42 and a beta of 0.85. Powell Industries has a 1-year low of $76.29 and a 1-year high of $364.98.

Insiders Place Their Bets

In other news, major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total value of $5,339,000.00. Following the completion of the sale, the insider now owns 682,265 shares in the company, valued at $145,704,513.40. This represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 60,000 shares of company stock worth $14,679,842 over the last ninety days. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Powell Industries

Hedge funds have recently bought and sold shares of the business. Covestor Ltd increased its holdings in shares of Powell Industries by 21.8% in the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 41 shares during the period. Chartwell Investment Partners LLC grew its position in Powell Industries by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock valued at $1,712,000 after purchasing an additional 60 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Powell Industries by 110.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after buying an additional 105 shares during the period. Diversified Trust Co lifted its position in Powell Industries by 7.1% in the 3rd quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock worth $385,000 after buying an additional 115 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Powell Industries by 64.3% during the 3rd quarter. KBC Group NV now owns 322 shares of the industrial products company’s stock valued at $71,000 after buying an additional 126 shares during the period. 89.77% of the stock is owned by hedge funds and other 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.