Powell Industries (NASDAQ:POWL) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Powell Industries (NASDAQ:POWL) in a research report sent to investors on Monday morning, Marketbeat reports. The firm issued an overweight rating and a $310.00 target price on the industrial products company’s stock.

A number of other research firms have also issued reports on POWL. Glj Research started coverage on Powell Industries in a report on Thursday, March 5th. They issued a “hold” rating and a $150.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Wall Street Zen downgraded shares of Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Cantor Fitzgerald increased their price target on shares of Powell Industries from $142.33 to $160.33 and gave the company a “neutral” rating in a report on Thursday, February 5th. Finally, Zacks Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $184.25.

Powell Industries Price Performance

Shares of POWL opened at $260.52 on Monday. The company has a market capitalization of $9.49 billion, a PE ratio of 50.78, a price-to-earnings-growth ratio of 3.29 and a beta of 0.81. Powell Industries has a one year low of $54.75 and a one year high of $263.86. The company’s fifty day moving average price is $194.79 and its 200 day moving average price is $150.47.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, February 3rd. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.18. The firm had revenue of $251.18 million for the quarter, compared to analyst estimates of $255.34 million. Powell Industries had a return on equity of 30.64% and a net margin of 16.82%.The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. Analysts anticipate that Powell Industries will post 5.48 earnings per share for the current year.

Powell Industries Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th were issued a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $0.36 annualized dividend and a yield of 0.1%. Powell Industries’s dividend payout ratio is 7.02%.

Insider Transactions at Powell Industries

In other Powell Industries news, EVP Michael William Metcalf sold 9,000 shares of the business’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $176.00, for a total value of $1,584,000.00. Following the sale, the executive vice president owned 83,400 shares of the company’s stock, valued at $14,678,400. The trade was a 9.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brett Alan Cope sold 4,440 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $233.96, for a total transaction of $1,038,782.40. Following the completion of the sale, the chief executive officer directly owned 164,851 shares in the company, valued at $38,568,539.96. This trade represents a 2.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 248,688 shares of company stock worth $44,535,053. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Greenline Wealth Management LLC bought a new stake in Powell Industries in the 4th quarter valued at $29,000. Avanza Fonder AB acquired a new stake in Powell Industries during the fourth quarter valued at approximately $30,000. Steward Partners Investment Advisory LLC boosted its holdings in Powell Industries by 126.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 63 shares in the last quarter. First Horizon Corp acquired a new stake in Powell Industries during the fourth quarter valued at approximately $40,000. Finally, Larson Financial Group LLC boosted its holdings in Powell Industries by 12,800.0% during the fourth quarter. Larson Financial Group LLC now owns 129 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 128 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

About Powell Industries

Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.

Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.