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

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

Powell Industries Price Performance

Shares of POWL stock opened at $300.51 on Friday. Powell Industries has a 12-month low of $75.05 and a 12-month high of $364.98. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.97 and a beta of 0.86. The business has a 50 day simple moving average of $245.38 and a 200 day simple moving average of $190.18.

Insider Buying and Selling

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of Powell Industries stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $347.74, for a total value of $1,738,700.00. Following the transaction, the insider now owns 677,265 shares in the company, valued at approximately $235,512,131.10. The trade was a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James W. Mcgill sold 6,600 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the transaction, the director now directly owns 9,660 shares in the company, valued at $1,795,214.40. This represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,600 shares of company stock valued at $15,906,386 over the last three months. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Transform Wealth LLC boosted its holdings in shares of Powell Industries by 25,920.5% in the second quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock worth $240,075,000 after buying an additional 1,667,728 shares during the period. Victory Capital Management Inc. lifted its position in shares of Powell Industries by 1,119.3% in the 3rd 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 in the last quarter. Driehaus Capital Management LLC acquired a new position in Powell Industries in the 2nd quarter worth approximately $11,658,000. Stephens Investment Management Group LLC purchased a new position in Powell Industries during the 3rd quarter worth approximately $13,606,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Powell Industries during the 3rd quarter valued at $10,760,000. 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.