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

Powell Industries, Inc. (NASDAQ:POWL) – Sidoti Csr increased their Q3 2024 earnings per share (EPS) estimates for shares of Powell Industries in a report issued on Wednesday, May 1st. Sidoti Csr analyst J. Franzreb now expects that the industrial products company will post earnings of $2.12 per share for the quarter, up from their previous estimate of $1.81. The consensus estimate for Powell Industries’ current full-year earnings is $7.54 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 posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.75 EPS for the quarter, beating 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 the consensus estimate of $201.45 million. During the same period in the prior year, the company earned $0.70 EPS. The firm’s revenue was up 48.8% compared to the same quarter last year.

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

Powell Industries Stock Down 0.4 %

NASDAQ POWL opened at $159.95 on Friday. The business’s fifty day simple moving average is $148.22 and its 200-day simple moving average is $112.53. The firm has a market cap of $1.92 billion, a PE ratio of 19.00, a P/E/G ratio of 1.61 and a beta of 0.79. Powell Industries has a 52 week low of $47.40 and a 52 week high of $197.87.

Institutional Investors Weigh In On Powell Industries

A number of hedge funds have recently bought and sold shares of POWL. New York State Teachers Retirement System increased its stake in shares of Powell Industries by 1.2% during the first quarter. New York State Teachers Retirement System now owns 8,208 shares of the industrial products company’s stock worth $1,168,000 after buying an additional 100 shares during the period. Precision Wealth Strategies LLC increased its position in shares of Powell Industries by 4.6% in the 4th quarter. Precision Wealth Strategies LLC now owns 3,255 shares of the industrial products company’s stock valued at $288,000 after purchasing an additional 142 shares during the last quarter. AJOVista LLC acquired a new stake in shares of Powell Industries in the 4th quarter valued at $29,000. Panagora Asset Management Inc. lifted its position in shares of Powell Industries by 1.0% during the 4th quarter. Panagora Asset Management Inc. now owns 36,874 shares of the industrial products company’s stock worth $3,260,000 after purchasing an additional 350 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Powell Industries by 121.1% during the third quarter. Covestor Ltd now owns 796 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 436 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 6,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Thomas W. Powell sold 10,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $167.46, for a total transaction of $1,674,600.00. Following the sale, the insider now owns 1,703,628 shares of the company’s stock, valued at $285,289,544.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Thomas W. Powell sold 6,000 shares of Powell Industries stock in a transaction on Monday, February 12th. The shares were sold at an average price of $151.36, for a total value of $908,160.00. Following the completion of the transaction, the insider now owns 714,643 shares of the company’s stock, valued at $108,168,364.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,000 shares of company stock valued at $4,850,830. Company insiders own 2.20% of the company’s stock.

Powell Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Wednesday, May 15th will be given a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.06 dividend on an annualized basis and a yield of 0.66%. This is a boost from Powell Industries’s previous quarterly dividend of $0.26. Powell Industries’s dividend payout ratio is presently 12.59%.

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.