Harbor Capital Advisors Inc. Trims Holdings in Powell Industries, Inc. (NASDAQ:POWL)

Harbor Capital Advisors Inc. reduced its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 10.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,114 shares of the industrial products company’s stock after selling 490 shares during the period. Harbor Capital Advisors Inc.’s holdings in Powell Industries were worth $912,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP acquired a new stake in shares of Powell Industries during the third quarter worth about $30,038,000. Victory Capital Management Inc. lifted its position in Powell Industries by 1,119.3% during the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock worth $21,886,000 after acquiring an additional 90,504 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of Powell Industries in the 2nd quarter valued at approximately $11,658,000. Stephens Investment Management Group LLC acquired a new position in shares of Powell Industries in the third quarter valued at approximately $13,606,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Powell Industries during the third quarter worth approximately $12,176,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on POWL shares. StockNews.com cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 6th. Roth Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, Roth Mkm initiated coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They issued a “buy” rating and a $312.00 price objective for the company.

Powell Industries Price Performance

Powell Industries stock opened at $229.45 on Tuesday. The stock’s 50 day moving average price is $266.38 and its 200 day moving average price is $216.01. Powell Industries, Inc. has a 1-year low of $76.29 and a 1-year high of $364.98. The company has a market cap of $2.77 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 1.31 and a beta of 0.88.

Powell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th were paid a dividend of $0.265 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.46%. Powell Industries’s dividend payout ratio (DPR) is presently 8.62%.

Insider Activity

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the transaction, the insider now directly owns 677,265 shares in the company, valued at approximately $235,512,131.10. This represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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.