JPMorgan Chase & Co. Buys 13,531 Shares of Powell Industries, Inc. (NASDAQ:POWL)

JPMorgan Chase & Co. boosted its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 101.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,858 shares of the industrial products company's stock after acquiring an additional 13,531 shares during the period. JPMorgan Chase & Co. owned about 0.22% of Powell Industries worth $5,962,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of Powell Industries by 5.7% during the third quarter. Principal Financial Group Inc. now owns 51,507 shares of the industrial products company's stock valued at $11,434,000 after acquiring an additional 2,793 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in Powell Industries during the third quarter worth approximately $1,361,000. Franklin Resources Inc. lifted its position in Powell Industries by 2.5% in the third quarter. Franklin Resources Inc. now owns 20,098 shares of the industrial products company's stock worth $4,462,000 after purchasing an additional 497 shares during the period. World Investment Advisors LLC acquired a new stake in Powell Industries in the third quarter worth approximately $2,366,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Powell Industries during the 3rd quarter valued at $12,176,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

POWL has been the subject of several research analyst reports. Roth Mkm began coverage on Powell Industries in a report on Wednesday, December 11th. They issued a "buy" rating and a $312.00 price objective for the company. Roth Capital raised shares of Powell Industries to a "strong-buy" rating in a report on Tuesday, December 10th. Finally, StockNews.com upgraded shares of Powell Industries from a "hold" rating to a "buy" rating in a research report on Tuesday.

Powell Industries Stock Performance

Shares of NASDAQ POWL traded up $7.99 during trading on Thursday, hitting $257.23. The company had a trading volume of 220,795 shares, compared to its average volume of 405,419. Powell Industries, Inc. has a 52 week low of $76.29 and a 52 week high of $364.98. The business's 50-day moving average is $263.28 and its 200 day moving average is $216.90. The company has a market cap of $3.10 billion, a P/E ratio of 20.93, a PEG ratio of 1.21 and a beta of 0.88.

Powell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Wednesday, November 20th. Powell Industries's dividend payout ratio (DPR) is presently 8.62%.

Insider Activity

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 677,265 shares in the company, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.20% of the stock is currently owned by company insiders.

Powell Industries 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.