Should You Consider Adding Vertiv Holdings Co (VRT) to Your Portfolio?

Renaissance Investment Management, an investment management company, released its “Midcap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.43% (net) compared to a -0.65% return for the Russell Midcap Growth Index. A focus on high-quality growth stocks at attractive valuations led the strategy to outperform the index in the quarter. The Consumer Discretionary and Energy sectors significantly contributed to the strategy’s performance while Health Care and Real Estate detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Renaissance Investment highlighted stocks like Vertiv Holdings Co (NYSE:VRT) in its Q3 2022 investor letter. Headquartered in Columbus, Ohio, Vertiv Holdings Co (NYSE:VRT) is a digital infrastructure technologies manufacturer. On December 29, 2022, Vertiv Holdings Co (NYSE:VRT) stock closed at $13.53 per share. One-month return of Vertiv Holdings Co (NYSE:VRT) was -4.72% and its shares lost 46.27% of their value over the last 52 weeks. Vertiv Holdings Co (NYSE:VRT) has a market capitalization of $5.105 billion.

Renaissance Investment made the following comment about Vertiv Holdings Co (NYSE:VRT) in its Q3 2022 investor letter:

“Vertiv Holdings Co (NYSE:VRT) was another strong performer after returning 62.9%. The company reported solid quarterly results and showed progress in managing through the raw materials inflationary environment that negatively impacted margins over the past several quarters.”

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Vertiv Holdings Co (NYSE:VRT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held Vertiv Holdings Co (NYSE:VRT) at the end of the third quarter, which was 34 in the previous quarter.

We discussed Vertiv Holdings Co (NYSE:VRT) in another article and shared best stocks to buy for flat markets according to Stanley Druckenmiller. 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.