Powell Industries, Inc. $POWL Shares Bought by Harbour Investments Inc.

Harbour Investments Inc. raised its stake in Powell Industries, Inc. (NASDAQ:POWL) by 257.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 740 shares of the industrial products company’s stock after acquiring an additional 533 shares during the period. Harbour Investments Inc.’s holdings in Powell Industries were worth $156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Vest Financial LLC boosted its stake in Powell Industries by 159.1% in the second quarter. Vest Financial LLC now owns 12,434 shares of the industrial products company’s stock valued at $2,617,000 after acquiring an additional 7,635 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Powell Industries by 1,010.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 42,607 shares of the industrial products company’s stock valued at $8,949,000 after buying an additional 38,769 shares during the last quarter. Second Half Financial Partners LLC purchased a new stake in shares of Powell Industries in the second quarter valued at about $202,000. Inspire Investing LLC purchased a new stake in shares of Powell Industries in the second quarter valued at about $1,004,000. Finally, Valmark Advisers Inc. raised its holdings in shares of Powell Industries by 15.6% in the second quarter. Valmark Advisers Inc. now owns 3,624 shares of the industrial products company’s stock valued at $763,000 after buying an additional 490 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director John Birchall sold 3,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total transaction of $780,090.00. Following the completion of the transaction, the director directly owned 6,700 shares of the company’s stock, valued at $1,742,201. This represents a 30.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael William Metcalf sold 3,200 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $298.74, for a total transaction of $955,968.00. Following the transaction, the executive vice president directly owned 25,700 shares of the company’s stock, valued at $7,677,618. This represents a 11.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Stock Down 4.4%

NASDAQ POWL opened at $332.87 on Thursday. The stock has a market capitalization of $4.02 billion, a P/E ratio of 23.12, a P/E/G ratio of 1.67 and a beta of 0.82. Powell Industries, Inc. has a 52-week low of $146.02 and a 52-week high of $364.98. The firm has a 50-day moving average price of $291.34 and a 200 day moving average price of $229.68.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.23. The firm had revenue of $286.27 million during the quarter, compared to analysts’ expectations of $301.69 million. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $3.79 earnings per share. On average, equities research analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

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

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.