Should You Add Constellation Energy Corporation (CEG) to Your Portfolio?

ClearBridge Investments, an investment management company, released its “ClearBridge Global Infrastructure Value Strategy” third quarter 2022 investor letter. A copy of the letter can be downloaded here. In the third quarter, the strategy outperformed the S&P Global Infrastructure Index. The stock selection in the electric, rail, and renewables sectors contributed positively to the fund’s performance. In contrast, stock selection in the water and airports sectors impacted the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Investments highlighted stocks like Constellation Energy Corporation (NASDAQ:CEG) in its Q3 2022 investor letter. Headquartered in Baltimore, Maryland, Constellation Energy Corporation (NASDAQ:CEG) is an electricity-generating and distributing company. On November 22, 2022, Constellation Energy Corporation (NASDAQ:CEG) stock closed at $96.27 per share. One-month return of Constellation Energy Corporation (NASDAQ:CEG) was 8.21%, and in three months, its shares gained 19.91% of their value. Constellation Energy Corporation (NASDAQ:CEG) has a market capitalization of $31.482 billion.

ClearBridge Investments made the following comment about Constellation Energy Corporation (NASDAQ:CEG) in its Q3 2022 investor letter:

U.S. electric utilities dominated top contributors in the quarter, with Constellation Energy Corporation (NASDAQ:CEG), PG&E (PCG) and NextEra Energy (NEE) at the top of the list. Constellation Energy is primarily a nuclear generation company and is the largest producer of carbon-free electricity in the U.S. Shares are performing well as the market is beginning to understand the potential for consolidation in the nuclear sector, where there is also potential upside from hydrogen.”

Electricity, Electric

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Constellation Energy Corporation (NASDAQ:CEG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 54 hedge fund portfolios held Constellation Energy Corporation (NASDAQ:CEG) at the end of the third quarter, which was 43 in the previous quarter.

We discussed Constellation Energy Corporation (NASDAQ:CEG) in another article and shared the best hot stocks to invest in. In addition, please check out our hedge fund investor letters Q3 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.