Investment management company Vulcan Value Partners recently released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The firm has five strategies, and all trailed their benchmark indexes in 2022. In the fourth quarter, the fund’s Large-Cap Composite returned 8.2% net of fees and expenses, the Small Cap Composite returned 11.2% net, Focus Composite returned 7.6% net, the Focus Plus composite returned 7.7%, and All Cap Composite returned 7.2% net. You can check the top 5 holdings of the fund to know its best picks in 2022.
Vulcan Value Partners highlighted stocks like EnerSys (NYSE:ENS) in the fourth quarter 2022 investor letter. Based in Reading, Pennsylvania, EnerSys (NYSE:ENS) provides stored energy solutions for industrial applications. On February 9, 2023, EnerSys (NYSE:ENS) stock closed at $90.93 per share. One-month return of EnerSys (NYSE:ENS) was 12.54% and its shares gained 23.68% of their value over the last 52 weeks. EnerSys (NYSE:ENS) has a market capitalization of $3.713 billion.
Vulcan Value Partners made the following comment about EnerSys (NYSE:ENS) in its Q4 2022 investor letter:
“EnerSys (NYSE:ENS) is a global leader in stored energy solutions for industrial applications. It supplies motive power batteries for trucks and forklifts, specialty batteries for satellites and military equipment, battery chargers, power converters and distributors, and outdoor equipment enclosures, amongst many other products and systems. Over the past three years, the business faced COVID-19 lockdowns, inflationary cost increases, and restricted access to the critical product components needed for its more complex, higher return products. On its most recent quarterly earnings call, management was confident the business had finally worked past many of these issues and expressed optimism that costs were beginning to level off, supply chain issues were easing, and EnerSys could resume converting its backlog into revenue. The stock price responded favorably to the quarterly results and management’s comments, and we continue to see plenty of opportunity for sequential improvement ahead.”
Photo by Kumpan Electric on Unsplash
EnerSys (NYSE:ENS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held EnerSys (NYSE:ENS) at the end of the third quarter, which was 20 in the previous quarter.
We discussed EnerSys (NYSE:ENS) in another article and shared the list of cheap lithium stocks to buy according to analysts. In addition, please check out our hedge fund investor letters Q4 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.
