JPMorgan Chase & Co. lessened its stake in Powell Industries, Inc. (NASDAQ:POWL) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 285,083 shares of the industrial products company’s stock after selling 9,551 shares during the quarter. JPMorgan Chase & Co.’s holdings in Powell Industries were worth $7,569,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Advisory Services Network LLC purchased a new stake in shares of Powell Industries during the 4th quarter valued at $40,000. BNP Paribas Arbitrage SA boosted its position in shares of Powell Industries by 346.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,851 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 1,436 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Powell Industries during the 1st quarter valued at about $57,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Powell Industries during the 4th quarter valued at about $62,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Powell Industries by 447.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,084 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 2,521 shares during the last quarter. 64.36% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on POWL. BidaskClub upgraded Powell Industries from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. CJS Securities upgraded Powell Industries from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 9th.

Shares of POWL opened at $36.10 on Wednesday. The stock has a market cap of $416.96 million, a PE ratio of 606.17 and a beta of 1.21. Powell Industries, Inc. has a 12-month low of $22.55 and a 12-month high of $41.42.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.33. The firm had revenue of $123.70 million during the quarter, compared to the consensus estimate of $100.15 million. Powell Industries had a return on equity of 0.24% and a net margin of 0.02%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.29) EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, May 21st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.88%.

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About Powell Industries

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. 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, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.

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Institutional Ownership by Quarter for Powell Industries (NASDAQ:POWL)

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