Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” fourth-quarter 2022 investor letter, a copy of which can be downloaded here. In the fourth quarter, the fund delivered a 10.36% net return compared to an 8.42% return for the Russell 2000 Value Index and a 9.21% return for the Russell 2500 Value Index. Health Care was the significant contributor to the fund’s performance in the quarter, while Materials detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Bernzott Capital Advisors highlighted stocks like Granite Construction Incorporated (NYSE:GVA) in the Q4 2022 investor letter. Headquartered in Watsonville, California, Granite Construction Incorporated (NYSE:GVA) is a US-based construction materials producer and infrastructure contractor. On January 20, 2023, Granite Construction Incorporated (NYSE:GVA) stock closed at $39.67 per share. One-month return of Granite Construction Incorporated (NYSE:GVA) was 12.00%, and its shares gained 7.04% of their value over the last 52 weeks. Granite Construction Incorporated (NYSE:GVA) has a market capitalization of $1.735 billion.
Bernzott Capital Advisors made the following comment about Granite Construction Incorporated (NYSE:GVA) in its Q4 2022 investor letter:
“Granite Construction Incorporated (NYSE:GVA): The engineering and construction company reported better than expected top and bottom-line results which led to outperformance during the quarter. As legacy contracts roll off the books and backlog of new, more profitable business continues to grow, margins should expand. The pace of new contract awards continues to accelerate as overall funding focused on the improvement in the nation’s infrastructure begins to materialize.”
Photo by Denys Nevozhai on Unsplash
Granite Construction Incorporated (NYSE:GVA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held Granite Construction Incorporated (NYSE:GVA) at the end of the third quarter which was 14 in the previous quarter.
We discussed Granite Construction Incorporated (NYSE:GVA) in another article and shared Bernzott Capital Advisors’ views on the company. In addition, please check out our hedge fund investor letters Q4 2022 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.
