Powell Industries (NASDAQ:POWL) Posts Earnings Results, Beats Expectations By $0.46 EPS

Powell Industries (NASDAQ:POWL) announced its earnings results on Tuesday. The industrial products company reported $4.22 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.46, Zacks reports. The business had revenue of $297.98 million during the quarter, compared to the consensus estimate of $292.85 million. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.77 earnings per share.

Powell Industries Stock Down 11.3%

Shares of POWL opened at $285.29 on Thursday. Powell Industries has a 52-week low of $146.02 and a 52-week high of $413.00. The company has a 50-day simple moving average of $330.08 and a 200-day simple moving average of $256.33. The company has a market capitalization of $3.44 billion, a PE ratio of 19.81, a P/E/G ratio of 1.95 and a beta of 0.81.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th will be paid a dividend of $0.2675 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.4%. Powell Industries’s dividend payout ratio is 7.43%.

Wall Street Analyst Weigh In

POWL has been the subject of several analyst reports. Roth Capital reaffirmed a “buy” rating and set a $350.00 price objective on shares of Powell Industries in a research note on Wednesday. Weiss Ratings upgraded Powell Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, November 13th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Powell Industries presently has an average rating of “Buy” and a consensus target price of $331.00.

Insider Buying and Selling

In related news, Director John Birchall sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total value of $780,090.00. Following the completion of the transaction, the director directly owned 6,700 shares of the company’s stock, valued at $1,742,201. This trade represents a 30.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael William Metcalf sold 3,200 shares of Powell Industries stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $298.74, for a total value of $955,968.00. Following the transaction, the executive vice president directly owned 25,700 shares of the company’s stock, valued at $7,677,618. This trade represents a 11.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. State of Wyoming acquired a new stake in Powell Industries during the 2nd quarter valued at $33,000. Johnson Financial Group Inc. acquired a new position in shares of Powell Industries in the third quarter worth $81,000. iSAM Funds UK Ltd purchased a new stake in shares of Powell Industries in the third quarter valued at $87,000. Wexford Capital LP acquired a new stake in shares of Powell Industries during the third quarter valued at $101,000. Finally, Coldstream Capital Management Inc. purchased a new stake in Powell Industries during the 3rd quarter worth about $225,000. 89.77% of the stock is owned by hedge funds and other institutional investors.

About Powell Industries

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.