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

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

A number of other analysts have also issued reports on the company. Roth Mkm started coverage on Powell Industries in a report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 target price on the stock. Roth Capital raised Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th.

Powell Industries Price Performance

POWL stock opened at $231.07 on Thursday. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 1.31 and a beta of 0.85. The company has a 50-day moving average of $273.03 and a two-hundred day moving average of $209.73. Powell Industries has a 52-week low of $76.29 and a 52-week high of $364.98.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the company’s stock in a transaction 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 document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 35,000 shares of company stock valued at $9,340,842 over the last three months. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Powell Industries

Several hedge funds and other institutional investors have recently modified their holdings of POWL. Covestor Ltd raised its stake in Powell Industries by 21.8% during the third quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 41 shares in the last quarter. Chartwell Investment Partners LLC grew its holdings in shares of Powell Industries by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 7,711 shares of the industrial products company’s stock worth $1,712,000 after purchasing an additional 60 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Powell Industries by 110.5% during the 3rd 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 in the last quarter. Diversified Trust Co lifted its holdings in Powell Industries by 7.1% during the 3rd quarter. Diversified Trust Co now owns 1,733 shares of the industrial products company’s stock valued at $385,000 after purchasing an additional 115 shares during the last quarter. Finally, KBC Group NV boosted its position in Powell Industries by 64.3% in the third 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 in the last quarter. Institutional investors own 89.77% of the company’s stock.

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.