Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the mid-cap stocks posted gains after trailing in the previous quarter. Information Technology, Consumer Discretionary, and Industrials were the solid contributors to the fund in the quarter while, energy and utilities detracted from performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Carillon Eagle Mid Cap Growth Fund highlighted stocks like Enphase Energy, Inc. (NASDAQ:ENPH) in the Q1 2023 investor letter. Headquartered in Fremont, California, Enphase Energy, Inc. (NASDAQ:ENPH) is an energy technology company that offers micro inverter systems for the solar photovoltaic industry. On May 16, 2023, Enphase Energy, Inc. (NASDAQ:ENPH) stock closed at $160.96 per share. One-month return of Enphase Energy, Inc. (NASDAQ:ENPH) was -28.23%, and its shares gained 3.07% of their value over the last 52 weeks. Enphase Energy, Inc. (NASDAQ:ENPH) has a market capitalization of $22.059 billion.
Carillon Eagle Mid Cap Growth Fund made the following comment about Enphase Energy, Inc. (NASDAQ:ENPH) in its Q1 2023 investor letter:
“Enphase Energy, Inc. (NASDAQ:ENPH) provides solar microinverters and energy storage solutions. Despite a strong quarterly update that came in ahead of expectations, the stock sold off due to investor concerns surrounding a potential deceleration in the pace of growth of residential solar installations in the United States. While this creates a bit of debate regarding the stock in the near term, the company possesses a market-leading position in its core microinverter product and remains well-positioned over the long term to benefit domestically from the recently passed Inflation Reduction Act. Additionally, Enphase is focused on growing its international presence while also developing new products that could provide the next tailwind to its growth story.”
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Enphase Energy, Inc. (NASDAQ:ENPH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 63 hedge fund portfolios held Enphase Energy, Inc. (NASDAQ:ENPH) at the end of the fourth quarter, which was 59 in the previous quarter.
We discussed Enphase Energy, Inc. (NASDAQ:ENPH) in another article and shared ClearBridge Investments’ views on the company. In addition, please check out our hedge fund investor letters Q1 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.
