Powell Industries (NASDAQ:POWL) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Powell Industries (NASDAQ:POWL) had its price target lowered by JPMorgan Chase & Co. from $300.00 to $250.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Several other equities research analysts have also recently commented on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $235.00 price objective on shares of Powell Industries in a research report on Thursday, October 1st. Weiss Ratings lowered Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Finally, Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.92.

Powell Industries Price Performance

NASDAQ POWL opened at $170.82 on Tuesday. Powell Industries has a one year low of $92.59 and a one year high of $328.00. The firm has a market cap of $6.22 billion, a P/E ratio of 32.79, a P/E/G ratio of 1.76 and a beta of 1.17. The stock’s 50-day moving average is $189.34 and its 200-day moving average is $232.56.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.07). Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The business had revenue of $311.74 million during the quarter, compared to analyst estimates of $316.70 million. During the same quarter in the prior year, the firm posted $3.96 earnings per share. Powell Industries’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts anticipate that Powell Industries will post 5.36 EPS for the current year.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, August 19th were paid a dividend of $0.09 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. Powell Industries’s dividend payout ratio is currently 6.91%.

Insider Activity at Powell Industries

In other news, CEO Brett Cope sold 4,799 shares of the company’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $187.67, for a total value of $900,628.33. Following the sale, the chief executive officer directly owned 507,934 shares of the company’s stock, valued at approximately $95,323,973.78. This represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Marshall Mauney, Jr. sold 301 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $187.67, for a total value of $56,488.67. Following the transaction, the vice president directly owned 10,552 shares in the company, valued at approximately $1,980,293.84. This trade represents a 2.77% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

A number of hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC boosted its position in Powell Industries by 146.0% during the second quarter. NewEdge Advisors LLC now owns 26,941 shares of the industrial products company’s stock worth $7,715,000 after purchasing an additional 15,990 shares during the period. Private Advisory Group LLC bought a new stake in shares of Powell Industries during the 2nd quarter worth about $14,158,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Powell Industries during the 2nd quarter worth about $2,623,000. Baird Financial Group Inc. grew its stake in Powell Industries by 209.9% in the 2nd quarter. Baird Financial Group Inc. now owns 199,087 shares of the industrial products company’s stock valued at $57,011,000 after buying an additional 134,837 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Powell Industries by 229.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 81,723 shares of the industrial products company’s stock worth $23,402,000 after acquiring an additional 56,901 shares during the period. 89.77% of the stock is owned by institutional investors and hedge funds.

About Powell Industries

Powell Industries, Inc designs, manufactures and services equipment used to control, monitor and distribute electrical power. Its products include medium-voltage and low-voltage switchgear, motor control centers, electrical control panels, power-control rooms, bus systems and related protection and control equipment. The company also provides engineered electrical systems, field services, equipment modernization, installation support and commissioning services.

Powell serves customers in industries that require reliable and specialized electrical infrastructure, including oil and gas, petrochemical and chemical processing, utilities, mining, transportation, commercial facilities and renewable energy.