Madison Investments, an investment advisor, released its “Madison Sustainable Equity Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. As measured by the S&P 500 Index, the markets were mixed in the third quarter. The fund returned -3.14% in the quarter compared to -3.27% return for the S&P 500 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Madison Sustainable Equity Fund highlighted stocks like The Home Depot, Inc. (NYSE:HD) in the third quarter 2023 investor letter. Headquartered in Atlanta, Georgia, The Home Depot, Inc. (NYSE:HD) is a home improvement retailer. On October 25, 2023, The Home Depot, Inc. (NYSE:HD) stock closed at $280.93 per share. One-month return of The Home Depot, Inc. (NYSE:HD) was -6.92%, and its shares lost 6.92% of their value over the last 52 weeks. The Home Depot, Inc. (NYSE:HD) has a market capitalization of $280.95 billion.
Madison Sustainable Equity Fund made the following comment about The Home Depot, Inc. (NYSE:HD) in its Q3 2023 investor letter:
“We updated the sustainable scorecard for The Home Depot, Inc. (NYSE:HD) and maintained our Above Average Rating. Home Depot’s corporate responsibilities focus on three pillars: focusing on its people, operating sustainably, and strengthening its communities. Home Depot continues to focus on its people by investing billions of dollars in wages, training, and benefit enhancement. The company’s environmental targets include the reduction of direct (Scope 1) and indirect (Scope 2) emissions by 42% by 2030, as well as a 25% decrease in emissions related to the “use of products sold” (Scope 3 emissions). Both targets are from a 2020 base year.
Separately, The Home Depot Foundation announced that it will invest $6 million in skilled trades training to address the 400,000 job openings across the construction industry. This grant launches a new program that will provide free, skilled trades training and scholarships for veterans and military families.”
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The Home Depot, Inc. (NYSE:HD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 68 hedge fund portfolios held The Home Depot, Inc. (NYSE:HD) at the end of second quarter which was 65 in the previous quarter.
We discussed The Home Depot, Inc. (NYSE:HD) in another article and shared stock recommendations from ChatGPT stock advice. 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.
