Sidoti Csr Comments on Powell Industries, Inc.’s Q3 2024 Earnings (NASDAQ:POWL)

Powell Industries, Inc. (NASDAQ:POWL) – Sidoti Csr boosted their Q3 2024 earnings estimates for shares of Powell Industries in a research report issued to clients and investors on Wednesday, May 1st. Sidoti Csr analyst J. Franzreb now forecasts that the industrial products company will post earnings per share of $2.12 for the quarter, up from their previous forecast of $1.81. The consensus estimate for Powell Industries’ current full-year earnings is $9.04 per share. Sidoti Csr also issued estimates for Powell Industries’ Q4 2024 earnings at $2.19 EPS, FY2024 earnings at $9.04 EPS, Q1 2025 earnings at $2.02 EPS, Q2 2025 earnings at $2.30 EPS, Q3 2025 earnings at $2.27 EPS and FY2025 earnings at $8.99 EPS.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.86. Powell Industries had a return on equity of 27.93% and a net margin of 12.05%. The firm had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $201.45 million. During the same quarter last year, the business posted $0.70 earnings per share. The firm’s revenue was up 48.8% on a year-over-year basis.

Separately, StockNews.com downgraded Powell Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st.

Powell Industries Trading Down 0.4 %

Shares of NASDAQ:POWL opened at $159.95 on Friday. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.27 and a beta of 0.79. Powell Industries has a 12 month low of $47.40 and a 12 month high of $197.87. The company has a 50-day moving average price of $148.18 and a 200 day moving average price of $113.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of POWL. Dimensional Fund Advisors LP boosted its stake in shares of Powell Industries by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 807,985 shares of the industrial products company’s stock valued at $71,427,000 after buying an additional 9,177 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Powell Industries by 9.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 380,177 shares of the industrial products company’s stock worth $31,517,000 after acquiring an additional 31,989 shares during the last quarter. Invesco Ltd. grew its holdings in Powell Industries by 28.1% during the 3rd quarter. Invesco Ltd. now owns 156,952 shares of the industrial products company’s stock worth $13,011,000 after acquiring an additional 34,455 shares in the last quarter. FMR LLC increased its position in shares of Powell Industries by 1,377.9% in the 3rd quarter. FMR LLC now owns 138,597 shares of the industrial products company’s stock valued at $11,490,000 after purchasing an additional 129,219 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Powell Industries by 23.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 128,017 shares of the industrial products company’s stock valued at $10,613,000 after purchasing an additional 24,354 shares in the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Powell Industries

In related news, major shareholder Thomas W. Powell sold 6,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $151.36, for a total transaction of $908,160.00. Following the transaction, the insider now directly owns 714,643 shares in the company, valued at $108,168,364.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Powell Industries news, Director Christopher E. Cragg sold 9,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $155.13, for a total transaction of $1,396,170.00. Following the sale, the director now directly owns 12,360 shares in the company, valued at $1,917,406.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Thomas W. Powell sold 6,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $151.36, for a total transaction of $908,160.00. Following the completion of the transaction, the insider now owns 714,643 shares of the company’s stock, valued at approximately $108,168,364.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,000 shares of company stock valued at $4,850,830. 2.20% of the stock is owned by insiders.

Powell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 15th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 0.66%. This is a boost from Powell Industries’s previous quarterly dividend of $0.26. The ex-dividend date is Tuesday, May 14th. Powell Industries’s dividend payout ratio (DPR) is presently 12.59%.

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.