Do You Believe in the Growth Prospects of Vertiv Holdings (VRT)?
Next Century Growth Investors, LLC, an investment Management Company, released its “SMID Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. October had negative returns from the equity markets in the fourth quarter of 2023, but November and December saw a robust market rally that produced positive returns for the quarter. The strategy returned 4.84% (net of fees) compared to 12.59% for the Russell 2500™ Growth Index. Over the trailing year, the strategy returned 15.46% compared to 18.93% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
NCG SMID Cap Growth Strategy featured stocks like Vertiv Holdings Co (NYSE:VRT) in the fourth quarter 2023 investor letter. Headquartered in Westerville, Ohio, Vertiv Holdings Co (NYSE:VRT) manufactures and services critical digital infrastructure technologies and life cycle services. On March 19, 2024, Vertiv Holdings Co (NYSE:VRT) stock closed at $77.06 per share. One-month return of Vertiv Holdings Co (NYSE:VRT) was 31.61%, and its shares gained 472.94% of their value over the last 52 weeks. Vertiv Holdings Co (NYSE:VRT) has a market capitalization of $29.435 billion.
NCG SMID Cap Growth Strategy stated the following regarding Vertiv Holdings Co (NYSE:VRT) in its fourth quarter 2023 investor letter:
"Vertiv Holdings Co (NYSE:VRT) is a key player in providing backup power and thermal management to datacenters. The worldwide datacenter capacity is poised to continue growing and so is the volume of traffic moving through the datacenters. This is being driven by AI and high performance computing, enterprise workloads being moved to the cloud, social media proliferation, among other things. VRT operates in a competitive environment where the top 3 companies possess the majority of share and they all benefit from growth in the end market. However, VRT is the only pure play focused solely on this opportunity. We believe VRT can continue to capitalize on the strong demand backdrop, while delivering solid revenue growth and margin expansion."
A close-up of a group of technicians working on complex data center systems.
Vertiv Holdings Co (NYSE:VRT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Vertiv Holdings Co (NYSE:VRT) was held by 75 hedge fund portfolios, up from 66 in the previous quarter, according to our database.
We discussed Vertiv Holdings Co (NYSE:VRT) in another article and shared Baron Small Cap Fund's views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
