Powell Industries (NASDAQ:POWL) Lifted to “Buy” at StockNews.com

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

Powell Industries Trading Down 4.5 %

Shares of POWL traded down $11.92 during midday trading on Wednesday, reaching $255.17. The stock had a trading volume of 525,906 shares, compared to its average volume of 368,514. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The company’s 50-day moving average is $203.33 and its 200 day moving average is $171.99. Powell Industries has a 12-month low of $72.80 and a 12-month high of $284.45.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $1.63. The business had revenue of $288.17 million during the quarter, compared to analyst estimates of $222.18 million. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. Powell Industries’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 earnings per share. Research analysts forecast that Powell Industries will post 12.01 EPS for the current fiscal year.

Insider Buying and Selling at Powell Industries

In other 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 value of $5,339,000.00. Following the transaction, the insider now owns 682,265 shares in the company, valued at approximately $145,704,513.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Powell Industries news, major shareholder Thomas W. Powell sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total value of $5,339,000.00. Following the sale, the insider now owns 682,265 shares of the company’s stock, valued at $145,704,513.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert B. Callahan sold 1,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the sale, the insider now owns 11,066 shares of the company’s stock, valued at approximately $1,770,560. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,350 shares of company stock worth $14,774,341 over the last three months. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

Several large investors have recently modified their holdings of the stock. Transform Wealth LLC grew its stake 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 acquiring an additional 1,667,728 shares during the period. Vanguard Group Inc. raised its stake in Powell Industries by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock valued at $93,410,000 after purchasing an additional 17,177 shares during the period. American Century Companies Inc. lifted its holdings in shares of Powell Industries by 15.0% in the second quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after buying an additional 35,818 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Powell Industries by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock valued at $14,271,000 after purchasing an additional 1,015 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Powell Industries during the second quarter valued at approximately $11,658,000. Hedge funds and other 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.