Here’s Why Vertiv (VRT) Performed Positively in Q4
ClearBridge Investments, an investment management company, released its “ClearBridge SMID Cap Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed the benchmark Russell 2500 Growth Index in the fourth quarter with strong stock selection in the information technology ('IT') and consumer discretionary sectors overcoming detractors in the consumer staples sector. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge 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 21, 2024, Vertiv Holdings Co (NYSE:VRT) stock closed at $82.11 per share. One-month return of Vertiv Holdings Co (NYSE:VRT) was 30.96%, and its shares gained 527.27% of their value over the last 52 weeks. Vertiv Holdings Co (NYSE:VRT) has a market capitalization of $31.364 billion.
ClearBridge SMID Cap Growth Strategy stated the following regarding Vertiv Holdings Co (NYSE:VRT) in its fourth quarter 2023 investor letter:
"Within IT, AI trends continue to positively impact order trends at data center and technology hardware companies to the benefit of companies like Monolithic Power Systems, our top-performing holding during the quarter. Enthusiasm supplying power management for Nvidia’s AI GPUs supported both strong 2023 performance and a robust future outlook. This strong demand also translated into positive performance for industrials holding Vertiv Holdings Co (NYSE:VRT), a leader in power and thermal management and related tools and systems used by data centers. However, we continue to monitor the sustainability of such trends, as well as their valuations, on a case-by-case basis. As a result, we trimmed the position size of both of these investments, following strong stock performance."
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 the list of stocks Jim Cramer thinks AI revolution can boost. 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.
