Harbor Capital Advisors Inc. Increases Stake in Powell Industries, Inc. $POWL

Key Points

• Harbor Capital Advisors Inc. increased its stake in Powell Industries by 39.7% during the second quarter, owning approximately 0.24% of the company, valued at $6.2 million.
• Powell Industries reported earnings of $3.96 per share, exceeding analysts' expectations, although its revenue was down slightly year-over-year.
• The company declared a quarterly dividend of $0.2675 per share, representing an annualized yield of 0.4%.

Harbor Capital Advisors Inc. lifted its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 39.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,478 shares of the industrial products company's stock after buying an additional 8,383 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.24% of Powell Industries worth $6,204,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in POWL. Ameriprise Financial Inc. raised its position in Powell Industries by 28.1% during the 4th quarter. Ameriprise Financial Inc. now owns 45,215 shares of the industrial products company's stock worth $10,022,000 after purchasing an additional 9,923 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Powell Industries by 58.6% during the 4th quarter. Deutsche Bank AG now owns 9,267 shares of the industrial products company's stock valued at $2,054,000 after buying an additional 3,423 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Powell Industries by 44.8% during the 4th quarter. Lazard Asset Management LLC now owns 4,988 shares of the industrial products company's stock valued at $1,105,000 after purchasing an additional 1,544 shares during the last quarter. ProShare Advisors LLC boosted its position in Powell Industries by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 2,817 shares of the industrial products company's stock valued at $624,000 after purchasing an additional 866 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in Powell Industries during the 4th quarter worth about $1,215,000. Institutional investors own 89.77% of the company's stock.

Powell Industries Price Performance

Shares of POWL stock traded down $6.99 during trading hours on Friday, hitting $297.31. The company had a trading volume of 270,413 shares, compared to its average volume of 208,277. The company's fifty day moving average is $255.20 and its 200 day moving average is $207.95. The stock has a market capitalization of $3.59 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 1.48 and a beta of 0.85. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $364.98.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 EPS for the quarter, topping analysts' consensus estimates of $3.73 by $0.23. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The company had revenue of $286.27 million for the quarter, compared to the consensus estimate of $301.69 million. During the same period in the previous year, the business earned $3.79 earnings per share. Powell Industries's quarterly revenue was down .7% compared to the same quarter last year. Equities analysts forecast that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th were issued a $0.2675 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $1.07 annualized dividend and a yield of 0.4%. Powell Industries's dividend payout ratio (DPR) is 7.43%.

Insider Buying and Selling at Powell Industries

In related news, Director John Birchall sold 3,000 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total value of $780,090.00. Following the completion of the transaction, the director directly owned 6,700 shares in the company, valued at approximately $1,742,201. The trade was a 30.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brett Alan Cope sold 6,775 shares of Powell Industries stock in a transaction on Friday, June 27th. The shares were sold at an average price of $210.55, for a total value of $1,426,476.25. Following the transaction, the chief executive officer owned 147,471 shares of the company's stock, valued at $31,050,019.05. The trade was a 4.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,328 shares of company stock worth $4,158,845 over the last ninety days. Insiders own 2.20% of the company's stock.

Powell Industries 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.