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

Powell Industries (NASDAQ:POWL) posted its quarterly earnings results on Tuesday. The industrial products company reported $4.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.46, Zacks reports. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.

Powell Industries Trading Up 1.2%

Shares of POWL stock traded up $3.85 during trading hours on Tuesday, hitting $321.66. The company’s stock had a trading volume of 287,940 shares, compared to its average volume of 336,238. Powell Industries has a twelve month low of $146.02 and a twelve month high of $413.00. The business has a fifty day moving average of $329.02 and a 200-day moving average of $255.23. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 22.34, a P/E/G ratio of 1.95 and a beta of 0.81.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th will be issued a $0.2675 dividend. This represents a $1.07 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, November 19th. Powell Industries’s dividend payout ratio is 7.43%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Powell Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, Powell Industries currently has an average rating of “Buy” and an average price target of $312.00.

Insiders Place Their Bets

In other news, EVP Michael William Metcalf sold 3,200 shares of the company’s 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 sale, the executive vice president directly owned 25,700 shares in the company, valued at $7,677,618. This represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Birchall sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total transaction of $780,090.00. Following the sale, the director directly owned 6,700 shares in the company, valued at $1,742,201. This represents a 30.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Eaton Financial Holdings Company LLC boosted its position in shares of Powell Industries by 127.1% in the third quarter. Eaton Financial Holdings Company LLC now owns 7,057 shares of the industrial products company’s stock worth $2,151,000 after buying an additional 3,949 shares during the period. Oberweis Asset Management Inc. lifted its position in Powell Industries by 27.7% during the 3rd quarter. Oberweis Asset Management Inc. now owns 47,500 shares of the industrial products company’s stock worth $14,478,000 after acquiring an additional 10,300 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new position in Powell Industries during the 3rd quarter worth approximately $617,000. NewEdge Advisors LLC grew its position in Powell Industries by 7.3% in the third quarter. NewEdge Advisors LLC now owns 5,975 shares of the industrial products company’s stock valued at $1,821,000 after acquiring an additional 409 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in Powell Industries by 2.2% in the third quarter. CANADA LIFE ASSURANCE Co now owns 9,247 shares of the industrial products company’s stock valued at $2,802,000 after acquiring an additional 203 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Powell Industries Company Profile

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.