Powell Industries (NASDAQ:POWL) Cut to Hold at StockNews.com

Powell Industries (NASDAQ:POWL) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Powell Industries Stock Performance

Shares of NASDAQ POWL traded down $10.21 during midday trading on Thursday, reaching $337.56. The stock had a trading volume of 398,825 shares, compared to its average volume of 369,630. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 31.58, a price-to-earnings-growth ratio of 1.54 and a beta of 0.86. Powell Industries has a twelve month low of $75.05 and a twelve month high of $350.48. The company’s 50 day moving average price is $224.48 and its 200 day moving average price is $182.60.

Insider Buying and Selling

In other news, CEO Brett Alan Cope sold 2,750 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $162.42, for a total value of $446,655.00. Following the sale, the chief executive officer now directly owns 145,987 shares of the company’s stock, valued at approximately $23,711,208.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 682,265 shares of the company’s stock, valued at approximately $145,704,513.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brett Alan Cope sold 2,750 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $162.42, for a total value of $446,655.00. Following the sale, the chief executive officer now directly owns 145,987 shares of the company’s stock, valued at approximately $23,711,208.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,350 shares of company stock valued at $14,614,341. 2.20% of the stock is owned by insiders.

Institutional Trading of Powell Industries

A number of hedge funds have recently modified their holdings of POWL. Hollencrest Capital Management purchased a new position in Powell Industries in the 3rd quarter worth about $30,000. Quest Partners LLC purchased a new stake in Powell Industries during the 3rd quarter valued at $35,000. GAMMA Investing LLC increased its stake in 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 purchasing an additional 79 shares during the period. Farther Finance Advisors LLC increased its stake in Powell Industries by 110.5% in the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 105 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in shares of Powell Industries during the 2nd quarter worth $47,000. 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.