Powell Industries (NASDAQ:POWL) Posts Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Powell Industries (NASDAQ:POWL) announced its earnings results on Monday. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09), Zacks reports. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%.

Powell Industries Trading Down 2.0%

POWL traded down $5.38 on Monday, hitting $269.95. 1,446,855 shares of the company’s stock were exchanged, compared to its average volume of 770,836. Powell Industries has a fifty-two week low of $54.75 and a fifty-two week high of $290.40. The stock has a market cap of $9.83 billion, a price-to-earnings ratio of 52.62, a P/E/G ratio of 3.53 and a beta of 1.14. The firm has a 50-day moving average price of $199.57 and a 200-day moving average price of $153.81.

Powell Industries Cuts Dividend

The company also recently disclosed 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 was Wednesday, February 18th. This represents a $0.36 dividend on an annualized basis and a yield of 0.1%. Powell Industries’s dividend payout ratio (DPR) is presently 7.02%.

Insider Buying and Selling at Powell Industries

In related news, insider Ping Ni sold 210 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $196.67, for a total transaction of $41,300.00. Following the completion of the sale, the insider owned 6,069 shares of the company’s stock, valued at approximately $1,193,570. This represents a 3.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Thomas W. Powell sold 149,334 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $167.41, for a total transaction of $25,000,004.94. Following the completion of the sale, the insider owned 1,796,082 shares of the company’s stock, valued at approximately $300,682,087.62. The trade was a 7.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 248,688 shares of company stock valued at $44,535,053 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Powell Industries

Large investors have recently made changes to their positions in the stock. State Street Corp lifted its position in Powell Industries by 0.9% during the second quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock worth $74,100,000 after buying an additional 3,159 shares in the last quarter. Invesco Ltd. boosted its stake in Powell Industries by 2.4% during the third quarter. Invesco Ltd. now owns 348,091 shares of the industrial products company’s stock worth $106,102,000 after buying an additional 8,083 shares during the last quarter. Federated Hermes Inc. grew its holdings in Powell Industries by 3.4% in the 4th quarter. Federated Hermes Inc. now owns 185,113 shares of the industrial products company’s stock valued at $59,010,000 after buying an additional 6,094 shares in the last quarter. UBS Group AG increased its stake in shares of Powell Industries by 6.3% in the 3rd quarter. UBS Group AG now owns 158,247 shares of the industrial products company’s stock worth $48,235,000 after acquiring an additional 9,374 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Powell Industries by 24.1% in the 4th quarter. Janus Henderson Group PLC now owns 145,034 shares of the industrial products company’s stock worth $46,224,000 after acquiring an additional 28,196 shares during the last quarter. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on POWL shares. Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a research report on Friday, April 24th. JPMorgan Chase & Co. started coverage on shares of Powell Industries in a research note on Monday, April 27th. They set an “overweight” rating and a $310.00 target price for the company. Texas Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Glj Research initiated coverage on shares of Powell Industries in a research note on Thursday, March 5th. They issued a “hold” rating and a $150.00 price target on the stock. Finally, Wall Street Zen cut Powell Industries from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Powell Industries currently has an average rating of “Buy” and an average target price of $184.25.

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.