Powell Industries (NASDAQ:POWL) Announces Quarterly Earnings Results

Powell Industries (NASDAQ:POWL) issued its quarterly earnings data on Tuesday. The industrial products company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.55, Zacks reports. Powell Industries had a return on equity of 31.80% and a net margin of 16.37%.

Powell Industries Stock Up 2.9%

Shares of NASDAQ POWL traded up $12.88 during mid-day trading on Tuesday, hitting $453.24. 357,321 shares of the company traded hands, compared to its average volume of 287,551. The business has a 50 day moving average of $364.66 and a two-hundred day moving average of $319.89. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.05 and a beta of 0.85. Powell Industries has a 1 year low of $146.02 and a 1 year high of $471.79.

Insider Activity at Powell Industries

In other Powell Industries news, VP William Marshall Mauney, Jr. sold 3,000 shares of Powell Industries stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $331.73, for a total transaction of $995,190.00. Following the transaction, the vice president directly owned 4,451 shares in the company, valued at approximately $1,476,530.23. The trade was a 40.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quest Investment Management LLC grew its position in shares of Powell Industries by 0.9% in the third quarter. Quest Investment Management LLC now owns 5,002 shares of the industrial products company’s stock valued at $1,525,000 after purchasing an additional 45 shares during the last quarter. Zacks Investment Management increased its position in shares of Powell Industries by 1.7% during the 3rd quarter. Zacks Investment Management now owns 6,052 shares of the industrial products company’s stock worth $1,845,000 after purchasing an additional 99 shares in the last quarter. Quantinno Capital Management LP grew its position in Powell Industries by 12.7% during the 2nd quarter. Quantinno Capital Management LP now owns 1,372 shares of the industrial products company’s stock worth $289,000 after acquiring an additional 155 shares during the last quarter. Private Advisor Group LLC increased its holdings in Powell Industries by 4.5% during the 3rd quarter. Private Advisor Group LLC now owns 3,621 shares of the industrial products company’s stock valued at $1,104,000 after purchasing an additional 155 shares in the last quarter. Finally, State of Wyoming bought a new position in Powell Industries in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Wall Street Zen lowered shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 19th. Roth Mkm restated a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research report on Wednesday, November 19th. Finally, Cantor Fitzgerald assumed coverage on Powell Industries in a research report on Friday, January 23rd. They set a “neutral” rating and a $427.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $388.50.

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.