Powell Industries stock pops 8% as fund filing and factory data shine a light on power-equipment names
Shares of Powell Industries jumped 8% to $439.37 by midday Friday after Tema ETFs disclosed a $24.3 million stake in the company. U.S. factory output rose in December, boosting electrical equipment makers. Eaton, Vertiv, and nVent also gained about 4%. Powell’s annual meeting is set for Feb. 18.