Powell Industries (NASDAQ:POWL) Posts Earnings Results, Misses Estimates By $0.09 EPS

Powell Industries (NASDAQ:POWL) posted its quarterly earnings data 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%. The company had revenue of $296.62 million for the quarter, compared to analyst estimates of $298.12 million. During the same quarter in the prior year, the business earned $3.81 EPS. Powell Industries’s revenue was up 6.5% compared to the same quarter last year.

Powell Industries Stock Down 2.0%

Shares of NASDAQ:POWL opened at $269.95 on Tuesday. The firm has a fifty day moving average of $199.57 and a two-hundred day moving average of $153.81. The firm has a market capitalization of $9.83 billion, a P/E ratio of 52.62, a price-to-earnings-growth 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.

Insider Activity at Powell Industries

In related news, CEO Brett Alan Cope sold 4,440 shares of Powell Industries stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $233.96, for a total value of $1,038,782.40. Following the completion of the sale, the chief executive officer owned 164,851 shares of the company’s stock, valued at approximately $38,568,539.96. The trade was a 2.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 149,334 shares of Powell Industries stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $167.41, for a total transaction of $25,000,004.94. Following the completion of the sale, the insider directly owned 1,796,082 shares of the company’s stock, valued at approximately $300,682,087.62. The trade was a 7.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 248,688 shares of company stock worth $44,535,053. 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 modified their holdings of POWL. Greenline Wealth Management LLC acquired a new stake in shares of Powell Industries in the 4th quarter valued at $29,000. State of Wyoming acquired a new stake in shares of Powell Industries in the 2nd quarter valued at $33,000. Steward Partners Investment Advisory LLC lifted its stake in shares of 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 valued at $36,000 after purchasing an additional 63 shares during the last quarter. Transamerica Financial Advisors LLC lifted its stake in shares of Powell Industries by 362.1% in the 4th quarter. Transamerica Financial Advisors LLC now owns 134 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 105 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Powell Industries by 24.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 198 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Powell Industries in a research report on Monday, April 27th. They issued an “overweight” rating and a $310.00 price target on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a research report on Friday, April 24th. Zacks Research upgraded shares of Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. Glj Research assumed coverage on shares of Powell Industries in a research report on Thursday, March 5th. They issued a “hold” rating and a $150.00 price target on the stock. Finally, Texas Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research report on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Powell Industries currently has a consensus rating of “Buy” and an average target price of $184.25.

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.