Harbor Capital Advisors Inc. Acquires 16,981 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Harbor Capital Advisors Inc. lifted its position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 412.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,095 shares of the industrial products company's stock after acquiring an additional 16,981 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.17% of Powell Industries worth $3,593,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Powell Industries by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 688,058 shares of the industrial products company's stock worth $152,508,000 after purchasing an additional 24,997 shares during the period. American Century Companies Inc. grew its position in shares of Powell Industries by 8.3% during the 4th quarter. American Century Companies Inc. now owns 351,750 shares of the industrial products company's stock worth $77,965,000 after buying an additional 27,029 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Powell Industries by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 297,868 shares of the industrial products company's stock worth $66,023,000 after buying an additional 16,002 shares during the last quarter. Invesco Ltd. raised its stake in shares of Powell Industries by 134.0% during the fourth quarter. Invesco Ltd. now owns 265,139 shares of the industrial products company's stock worth $58,768,000 after buying an additional 151,850 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Powell Industries by 24.1% in the fourth quarter. First Trust Advisors LP now owns 122,825 shares of the industrial products company's stock valued at $27,224,000 after buying an additional 23,839 shares during the period. Institutional investors own 89.77% of the company's stock.

Powell Industries Trading Down 2.8%

Shares of POWL stock traded down $5.48 on Friday, reaching $187.85. The company had a trading volume of 237,167 shares, compared to its average volume of 423,386. Powell Industries, Inc. has a 12 month low of $127.01 and a 12 month high of $364.98. The stock has a market cap of $2.27 billion, a PE ratio of 14.26, a PEG ratio of 0.98 and a beta of 0.73. The company has a 50-day moving average of $179.46 and a 200-day moving average of $204.94.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.47. The company had revenue of $278.63 million during the quarter, compared to analyst estimates of $282.68 million. Powell Industries had a net margin of 15.15% and a return on equity of 35.48%. The firm's revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.75 EPS. Sell-side analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, May 21st. Powell Industries's dividend payout ratio is currently 7.52%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, March 11th.

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.