ClearBridge Investments, an investment management firm, released its fourth-quarter 2023 “ClearBridge Aggressive Growth Strategy” investor letter, which can be downloaded here. The strategy outperformed its Russell 3000 Growth Index benchmark for the quarter. It had delivered gains across seven of the eight sectors in which it was invested on an absolute basis. Overall stock selection contributed to the strategy’s performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge Aggressive Growth Strategy featured stocks like Cintas Corporation (NASDAQ:CTAS) in its Q4 2023 investor letter. Headquartered in Cincinnati, Ohio, Cintas Corporation (NASDAQ:CTAS) provides corporate identity uniforms and related business services. On March 15, 2024, Cintas Corporation (NASDAQ:CTAS) stock closed at $627.38 per share. One-month return of Cintas Corporation (NASDAQ:CTAS) was 2.62%, and its shares gained 42.77% of their value over the last 52 weeks. Cintas Corporation (NASDAQ:CTAS) has a market capitalization of $64.004 billion.
ClearBridge Aggressive Growth Strategy stated the following regarding Cintas Corporation (NASDAQ:CTAS) in its fourth quarter 2023 investor letter:
“The recent market upswing enabled us to harvest profits from some of our larger cap holdings and put the proceeds to work across four newer positions. We added significantly to Cintas Corporation (NASDAQ:CTAS), a position initiated late in the third quarter. Cintas maintains a leading position in a fragmented, $40 billion market for uniform rental and facilities services. The company’s scale gives it better purchasing power, route density and technology, which have historically led to better price and service levels. Its position also enables industry-leading retention rates and sustainably higher returns on invested capital. Finally, Cintas has demonstrated a strong track record of improving margins. This addition not only supports our efforts to increase the aggregate quality and growth of the portfolio, but also acts to further diversify our industry exposures.”
A corporate office with staff members wearing company branded uniforms.
Cintas Corporation (NASDAQ:CTAS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Cintas Corporation (NASDAQ:CTAS) was held by 40 hedge fund portfolios, compared to 36 in the previous quarter, according to our database.
We discussed Cintas Corporation (NASDAQ:CTAS) in another article and shared the list of best dividend aristocrats according to analysts. 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.
