ClearBridge Investments, an investment management company, released the “ClearBridge Sustainability Leaders Strategy” third 2022 investor letter. A copy of it can be downloaded here. The strategy outperformed its benchmark in the third quarter, the Russell 3000 Index. Only the industrial sector contributed positively to the overall performance of the strategy among the ten sectors invested in the strategy. The main detractors of performance were the materials, consumer discretionary, and real estate sectors. In addition, please check the top five fund holdings to find out the best option in 2022.
ClearBridge Investments promotes stocks such as Enphase Energy, Inc. (NASDAQ:ENPH) in its Q3 2022 investor letter. Headquartered in Fremont, California, Enphase Energy, Inc. (NASDAQ:ENPH) is a global technology company for energy management. On November 22, 2022, Enphase Energy, Inc. (NASDAQ:ENPH) stock closed at $320.44 per share. The one month return of Enphase Energy, Inc. (NASDAQ:ENPH) is 20.65% and its shares have gained 27.92% of their value over the past 52 weeks. Enphase Energy, Inc. (NASDAQ:ENPH) has a market capitalization of $43.555 billion.
ClearBridge Investments made the following comments about Enphase Energy, Inc. (NASDAQ:ENPH) in its Q3 2022 investor letter:
“In IT, Enphase Energy, Inc. (NASDAQ:ENPH) delivered a strong quarter driven by secular growth in global rooftop solar, increased penetration in Europe, where demand is accelerating, and a continued increase in battery storage sales. Also with a strong presence in the US, Enphase Energy designs and manufactures microinverters for residential and small commercial solar PV systems and has taken steps to evolve from a solar inverter maker to a “home energy management” company that can act as the brain for the home energy system, including microinverters for solar, as well as energy storage and management software.”
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Enphase Energy, Inc. (NASDAQ:ENPH) was not on our list of the 30 Most Popular Stocks Among Hedge Funds. According to our database, 59 hedge fund portfolios hold Enphase Energy, Inc. (NASDAQ:ENPH) at the end of the third quarter, which was 53 in the previous quarter.
We are talking about Enphase Energy, Inc. (NASDAQ:ENPH) in another article and shared the best wind power and solar stocks to buy. Additionally, please check 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 was originally published on Insider Monkey.
