Miami-based Vision One Management Partners initiated a new position in Powell Industries (NASDAQ:POWL) during the third quarter, acquiring 23,591 shares valued at approximately $7.2 million. This new stake represents 4.5% of Vision One’s $158.9 million in U.S. equity holdings. Powell Industries designs and manufactures custom-engineered electrical equipment for various industries globally. The company reported record earnings, with fourth-quarter EPS up 12% and full-year net income increasing by 21%. Powell’s fundamentals remain strong, with revenue growth, widened gross margin, and a sizable cash position. Shares of Powell Industries were priced at $282.05 as of Friday’s market close.

Read more at Yahoo Finance: Fund Adds $7.2 Million Powell Stake as the Electrical Supplier Posts Record $181 Million Profit