In its Q3 2022 investor letter, Heartland Value Plus Fund mentioned Powell Industries, Inc. (NASDAQ: POWL ) and explained its insights for the company. Founded in 1947, Powell Industries, Inc. (NASDAQ:POWL) is a Houston, Texas-based electronics manufacturing company with a $537.7 million market capitalization. Powell Industries, Inc. (NASDAQ:POWL) delivered a 29.16% return since the beginning of the year, while its 12-month returns are up by 56.53%. The stock closed at $45.35 per share on February 6, 2023. Here is what Heartland Value Plus Fund has to say about Powell Industries, Inc. (NASDAQ:POWL) in its Q3 2022 investor letter: "It's more accurate to say we favor companies with defensive characteristics that are likely to be secular winners, even if the economy doesn't offer much of a tailwind. And once the next cycle begins, these are companies that stand to benefit as the economy re-accelerates.