Powell Industries (NASDAQ:POWL) Issues Earnings Results

Powell Industries (NASDAQ:POWL) issued its quarterly earnings results on Monday. The industrial products company reported $1.25 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%

Shares of Powell Industries stock traded down $5.38 on Monday, hitting $269.95. 1,453,205 shares of the company traded hands, compared to its average volume of 771,263. The firm’s 50-day simple moving average is $199.57 and its 200 day simple moving average is $153.81. The company has a market cap of $9.83 billion, a P/E ratio of 52.62, a P/E/G ratio of 3.53 and a beta of 1.14. Powell Industries has a 12-month low of $54.75 and a 12-month high of $290.40.

Powell Industries Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 18th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, February 18th. This represents a $0.36 annualized dividend and a dividend yield of 0.1%. Powell Industries’s dividend payout ratio (DPR) is 7.02%.

Insider Transactions at Powell Industries

In related news, Treasurer David L. Eckenrode sold 885 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $190.00, for a total transaction of $168,150.00. Following the transaction, the treasurer directly owned 1,329 shares of the company’s stock, valued at approximately $252,510. This trade represents a 39.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael William Metcalf sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $176.00, for a total value of $1,584,000.00. Following the transaction, the executive vice president directly owned 83,400 shares in the company, valued at approximately $14,678,400. This represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 248,688 shares of company stock valued at $44,535,053. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Powell Industries

A number of large investors have recently added to or reduced their stakes in POWL. Greenline Wealth Management LLC purchased a new position in Powell Industries in the 4th quarter worth $29,000. State of Wyoming purchased a new position in Powell Industries in the 2nd quarter worth approximately $33,000. Steward Partners Investment Advisory LLC increased its stake in Powell Industries by 126.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 63 shares during the period. Transamerica Financial Advisors LLC increased its stake in Powell Industries by 362.1% in the 4th quarter. Transamerica Financial Advisors LLC now owns 134 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 105 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Powell Industries by 24.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 198 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Glj Research assumed coverage on Powell Industries in a research report on Thursday, March 5th. They set a “hold” rating and a $150.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on Powell Industries in a research report on Monday, April 27th. They set an “overweight” rating and a $310.00 price target on the stock. Texas Capital raised Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Zacks Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. Finally, Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $184.25.

Powell Industries Company Profile

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.