Powell Industries, Inc. (NASDAQ:POWL) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,701 shares of the industrial products company's stock after purchasing an additional 2,843 shares during the period. JPMorgan Chase & Co. owned 0.25% of Powell Industries worth $6,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Securities Inc. acquired a new stake in Powell Industries in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its stake in Powell Industries by 455.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 132 shares in the last quarter. Blue Trust Inc. acquired a new stake in Powell Industries in the fourth quarter valued at approximately $40,000. Prestige Wealth Management Group LLC boosted its stake in Powell Industries by 100.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 200 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 100 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Powell Industries in the fourth quarter valued at approximately $57,000. 89.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th.

Powell Industries Stock Performance

Shares of Powell Industries stock traded up $13.35 during trading on Wednesday, hitting $179.20. 64,665 shares of the company's stock were exchanged, compared to its average volume of 433,000. The business has a 50-day simple moving average of $175.05 and a 200-day simple moving average of $231.02. Powell Industries, Inc. has a 52-week low of $127.01 and a 52-week high of $364.98. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.98 and a beta of 0.67.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its earnings results on Thursday, February 6th. The industrial products company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.03. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. On average, equities analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 19th were given a dividend of $0.2675 per share. The ex-dividend date was Wednesday, February 19th. This represents a $1.07 dividend on an annualized basis and a yield of 0.60%. This is an increase from Powell Industries's previous quarterly dividend of $0.27. Powell Industries's dividend payout ratio is currently 8.12%.

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.