Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund delivered a return of -5.77% net of fees (-5.57% gross of fees), trailing the Russell 2000 Index’s -5.13% total return. Both security selection and allocation effects drove the underperformance of the strategy in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Capital Small Cap Equity Strategy highlighted stocks like Dycom Industries, Inc. (NYSE:DY) in the third quarter 2023 investor letter. Headquartered in Palm Beach Gardens, Florida, Dycom Industries, Inc. (NYSE:DY) provides contracting services to the telecommunications infrastructure and utility industries. On October 16, 2023, Dycom Industries, Inc. (NYSE:DY) stock closed at $83.87 per share. One-month return of Dycom Industries, Inc. (NYSE:DY) was -13.19%, and its shares lost 22.48% of their value over the last 52 weeks. Dycom Industries, Inc. (NYSE:DY) has a market capitalization of $2.46 billion.
Aristotle Capital Small Cap Equity Strategy made the following comment about Dycom Industries, Inc. (NYSE:DY) in its Q3 2023 investor letter:
“Dycom Industries, Inc. (NYSE:DY), a provider of engineering and construction services to the telecommunications and cable television industries, declined amid uncertainty regarding near term customer capital spending initiatives and their ensuing impact on fiber capex plans. We maintain a position as we believe the company remains well positioned for longer term growth alongside secular trends for expanding fiber deployments to support faster broadband connectivity speeds and opportunities to deploy fiber to rural or underserved areas across the country.”
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Dycom Industries, Inc. (NYSE:DY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Dycom Industries, Inc. (NYSE:DY) at the end of second quarter which was 30 in the previous quarter.
We discussed Dycom Industries, Inc. (NYSE:DY) in another article and shared Aristotle Capital Small Cap Equity Strategy’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 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.
