Harbour Investments Inc. Raises Stock Position in Powell Industries, Inc. $POWL

Harbour Investments Inc. raised its stake in Powell Industries, Inc. (NASDAQ:POWL) by 257.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 740 shares of the industrial products company’s stock after buying an additional 533 shares during the quarter. Harbour Investments Inc.’s holdings in Powell Industries were worth $156,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Sei Investments Co. increased its holdings in Powell Industries by 2.7% in the first quarter. Sei Investments Co. now owns 2,926 shares of the industrial products company’s stock valued at $498,000 after buying an additional 77 shares in the last quarter. Brooklyn Investment Group grew its position in shares of Powell Industries by 168.8% in the first quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 108 shares during the last quarter. Rhumbline Advisers grew its position in shares of Powell Industries by 0.5% in the first quarter. Rhumbline Advisers now owns 25,463 shares of the industrial products company’s stock valued at $4,337,000 after purchasing an additional 118 shares during the last quarter. US Bancorp DE grew its position in shares of Powell Industries by 4.8% in the first quarter. US Bancorp DE now owns 2,775 shares of the industrial products company’s stock valued at $473,000 after purchasing an additional 126 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its position in shares of Powell Industries by 11.4% in the first quarter. Vontobel Holding Ltd. now owns 1,337 shares of the industrial products company’s stock valued at $228,000 after purchasing an additional 137 shares during the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Michael William Metcalf sold 3,200 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $298.74, for a total transaction of $955,968.00. Following the sale, the executive vice president owned 25,700 shares in the company, valued at approximately $7,677,618. This trade represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Birchall sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total transaction of $780,090.00. Following the sale, the director owned 6,700 shares in the company, valued at approximately $1,742,201. This trade represents a 30.93% decrease in their position. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Powell Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $312.00.

Powell Industries Stock Performance

Shares of NASDAQ POWL opened at $332.87 on Thursday. Powell Industries, Inc. has a 1 year low of $146.02 and a 1 year high of $364.98. The firm’s 50 day moving average price is $291.34 and its 200 day moving average price is $229.68. The firm has a market cap of $4.02 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 1.67 and a beta of 0.82.

Powell Industries (NASDAQ:POWL) last announced its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.73 by $0.23. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The firm had revenue of $286.27 million for the quarter, compared to analyst estimates of $301.69 million. During the same quarter last year, the business earned $3.79 earnings per share. Powell Industries’s revenue was down .7% compared to the same quarter last year. As a group, equities analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th were given a dividend of $0.2675 per share. The ex-dividend date was Wednesday, August 20th. This represents a $1.07 dividend on an annualized basis and a yield of 0.3%. Powell Industries’s dividend payout ratio (DPR) is 7.43%.

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.