Powell Industries (NASDAQ:POWL) Issues Quarterly Earnings Results, Beats Estimates By $0.23 EPS

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) announced its quarterly earnings results on Tuesday. The industrial products company reported $3.96 EPS for the quarter, beating analysts' consensus estimates of $3.73 by $0.23, Zacks reports. The company had revenue of $286.27 million during the quarter, compared to analysts' expectations of $301.69 million. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%. Powell Industries's revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.79 EPS.

Powell Industries Price Performance

NASDAQ POWL traded up $10.44 on Friday, reaching $243.85. The company had a trading volume of 297,078 shares, compared to its average volume of 317,268. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.17 and a beta of 0.81. Powell Industries has a fifty-two week low of $146.02 and a fifty-two week high of $364.98. The business has a 50 day moving average of $209.68 and a two-hundred day moving average of $196.18.

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be paid a $0.2675 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $1.07 annualized dividend and a dividend yield of 0.4%. Powell Industries's payout ratio is currently 7.43%.

Insider Transactions at Powell Industries

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

Institutional Investors Weigh In On Powell Industries

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in Powell Industries by 1.5% during the 1st quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company's stock worth $5,251,000 after acquiring an additional 461 shares during the period. NewEdge Advisors LLC grew its holdings in Powell Industries by 7.9% during the 1st quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company's stock worth $1,075,000 after acquiring an additional 461 shares during the period. Jones Financial Companies Lllp grew its holdings in Powell Industries by 1,221.0% during the 1st quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company's stock worth $236,000 after acquiring an additional 1,282 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Powell Industries by 4.8% during the 1st 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 worth $4,841,000 after acquiring an additional 1,311 shares during the period. Institutional investors and hedge funds own 89.77% of the company's stock.

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.