Fiduciary Management, an investment management firm, published its “Small-Cap Equity” first quarter 2022 investor letter – a copy of which can be downloaded here. The FMI Small Cap portfolios declined approximately 4.4% (gross)/4.5% (NET) in the March quarter compared to a 7.53% drop in the Russell 2000 Index, and a 2.40% loss in the Russell 2000 Value Index. Areas where the portfolio had little exposure, such as Energy Minerals & Utilities, accounted for the performance difference between the Small Cap strategy and the Russell 2000 Value. Compared to the Russell 2000, sectors that helped performance included Commercial Services, Health Technology, and Technology Services. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Fiduciary Management Small Cap Equity mentioned nVent Electric plc (NYSE:NVT) and explained its insights for the company. Founded in 1903, nVent Electric plc (NYSE:NVT) is a United Kingdom-based electrical connection and protection solutions provider with a $5.7 billion market capitalization. nVent Electric plc (NYSE:NVT) delivered a -9.55% return since the beginning of the year, while its 12-month returns are up by 16.27%. The stock closed at $34.37 per share on April 18, 2022.
Here is what Fiduciary Management Small Cap Equity has to say about nVent Electric plc (NYSE:NVT) in its Q1 2022 investor letter:
“nVent is a global provider of electrical connection and protection solutions. It was spun out of Pentair in 2018. The company is headquartered in Minneapolis, MN, although it’s incorporated in Ireland, and reports three segments: Enclosures (51% of sales and 40% of EBITA3), Electrical & Fastening Solutions (27% of sales and 36% of EBITA), and Thermal Management (22% of sales and 24% of EBITA). By geography, sales are split 63% U.S. and Canada, 23% Developed Europe, 11% Developing, and 3% Other Developed. By vertical, sales are split 43% Industrial, 28% Commercial & Residential, 21% Infrastructure, and 8% Energy…” (Click here to see the full text)
Soonthorn Wongsaita/Shutterstock.com
Our calculations show that nVent Electric plc (NYSE:NVT) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. nVent Electric plc (NYSE:NVT) was in 37 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 34 funds in the previous quarter. nVent Electric plc (NYSE:NVT) delivered a -7.08% return in the past 3 months.
In July 2021, we published an article that includes nVent Electric plc (NYSE:NVT) in 5 Best Dividend Stocks to Buy According to Ira Unschuld’s Brant Point Investment. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
