Sempra Energy (SRE) Fell as Defensive Sectors Went Out of Favor

ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Value Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed its Russell 1000 Value Index benchmark in the second quarter. The strategy benefited from nine of the 11 sectors in which it was invested for the quarter on an absolute basis, while overall stock selection contributed to performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge Large Cap Value Strategy highlighted stocks like Sempra (NYSE:SRE) in the second quarter 2023 investor letter. Headquartered in San Diego, California, Sempra (NYSE:SRE) energy infrastructure company. On September 14, 2023, Sempra (NYSE:SRE) stock closed at $73.53 per share. One-month return of Sempra (NYSE:SRE) was 3.98%, and its shares lost 12.69% of their value over the last 52 weeks. Sempra (NYSE:SRE) has a market capitalization of $46.273 billion.

ClearBridge Large Cap Value Strategy made the following comment about Sempra (NYSE:SRE) in its Q2 2023 investor letter:

“Defensive sectors were out of favor in a growth-driven market, leaving Sempra (NYSE:SRE), a best-in-class utility with regulated assets in California and Texas, among the top detractors.”

Oil Natural gas Pipeline

Pixabay/Public Domain

Sempra (NYSE:SRE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Sempra (NYSE:SRE) at the end of second quarter which was 31 in the previous quarter.

We discussed Sempra (NYSE:SRE) in another article and shared the list of stocks with lowest short interest. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.