Powell Industries (NASDAQ:POWL) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Powell Industries (NASDAQ:POWL) posted its earnings results on Monday. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.05), Zacks reports. Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.

Powell Industries Stock Up 5.3%

POWL traded up $11.04 during trading on Monday, hitting $219.72. The company had a trading volume of 1,447,411 shares, compared to its average volume of 771,990. The company has a market capitalization of $8.00 billion, a PE ratio of 43.00, a PEG ratio of 2.73 and a beta of 1.13. Powell Industries has a one year low of $69.00 and a one year high of $328.00. The firm’s 50-day moving average price is $263.99 and its 200 day moving average price is $224.08.

Powell Industries Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, May 20th. Powell Industries’s dividend payout ratio (DPR) is presently 7.05%.

Insider Activity

In other Powell Industries news, EVP Michael William Metcalf sold 4,500 shares of Powell Industries stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total value of $1,280,880.00. Following the sale, the executive vice president owned 78,900 shares of the company’s stock, valued at $22,458,096. This trade represents a 5.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard E. Williams sold 5,250 shares of Powell Industries stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $299.19, for a total value of $1,570,747.50. Following the completion of the sale, the director directly owned 39,630 shares in the company, valued at $11,856,899.70. This represents a 11.70% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 55,088 shares of company stock worth $16,070,066. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Powell Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Partners Public Asset Management LLC acquired a new position in Powell Industries during the third quarter worth approximately $43,515,000. Lord Abbett & CO. LLC increased its holdings in shares of Powell Industries by 80.1% during the 4th quarter. Lord Abbett & CO. LLC now owns 92,524 shares of the industrial products company’s stock worth $29,495,000 after acquiring an additional 41,159 shares during the last quarter. Vision One Management Partners LP raised its stake in Powell Industries by 160.5% in the 4th quarter. Vision One Management Partners LP now owns 61,448 shares of the industrial products company’s stock valued at $19,588,000 after acquiring an additional 37,857 shares during the period. Danske Bank A S acquired a new stake in Powell Industries during the 3rd quarter valued at $11,395,000. Finally, Qube Research & Technologies Ltd bought a new position in Powell Industries during the second quarter worth $7,099,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on POWL shares. JPMorgan Chase & Co. lifted their price objective on shares of Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Cantor Fitzgerald upped their target price on shares of Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Weiss Ratings lowered shares of Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Glj Research raised shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, Zacks Research cut shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $236.67.

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.