Powell Industries (NASDAQ:POWL) Issues Earnings Results

Key Points

• Powell Industries reported earnings of $3.96 per share for the quarter, exceeding analyst estimates by $0.23.
• The company recently announced a quarterly dividend of $0.2675 per share, yielding 0.5% annually, with a payout ratio of 7.52%.
• Insider transactions included CEO Brett Alan Cope selling over 6,700 shares, indicating a 4.39% decrease in ownership.

Powell Industries (NASDAQ:POWL - Get Free Report) released its quarterly earnings data on Tuesday. The industrial products company reported $3.96 earnings per share for the quarter, beating analysts' consensus estimates of $3.73 by $0.23, Zacks reports. The firm had revenue of $286.27 million for the quarter, compared to analyst estimates of $301.69 million. Powell Industries had a net margin of 16.22% and a return on equity of 34.60%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the firm earned $3.79 earnings per share.

Powell Industries Stock Up 1.6%

Powell Industries stock traded up $3.66 during mid-day trading on Thursday, reaching $231.50. 161,562 shares of the company's stock were exchanged, compared to its average volume of 383,415. The firm has a market capitalization of $2.79 billion, a PE ratio of 16.08, a P/E/G ratio of 1.19 and a beta of 0.81. Powell Industries has a one year low of $146.02 and a one year high of $364.98. The business's fifty day simple moving average is $206.91 and its 200 day simple moving average is $196.69.

Powell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be given a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, August 20th. Powell Industries's dividend payout ratio (DPR) is presently 7.52%.

Insider Transactions at Powell Industries

In other news, CEO Brett Alan Cope sold 6,775 shares of Powell Industries stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $210.55, for a total transaction of $1,426,476.25. Following the completion of the sale, the chief executive officer owned 147,471 shares in the company, valued at approximately $31,050,019.05. This trade represents a 4.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael William Metcalf sold 3,921 shares of the stock in a transaction on Friday, June 27th. The shares were sold at an average price of $210.55, for a total transaction of $825,566.55. Following the transaction, the executive vice president directly owned 28,900 shares in the company, valued at approximately $6,084,895. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,308 shares of company stock valued at $3,574,755 in the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Powell Industries

A number of hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its stake in Powell Industries by 1.5% in the first quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company's stock worth $5,251,000 after buying an additional 461 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Powell Industries by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company's stock valued at $4,841,000 after purchasing an additional 1,311 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Powell Industries by 7.9% during the 1st quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company's stock valued at $1,075,000 after acquiring an additional 461 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in Powell Industries by 1,221.0% in the first quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company's stock worth $236,000 after purchasing an additional 1,282 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.

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.