ClearBridge Investments, an investment management firm, published its “Sustainability Leaders Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Sustainability Leaders Strategy outperformed its Russell 3000 Index benchmark during the fourth quarter. On an absolute basis, the Strategy had gains in nine of 10 sectors in which it was invested (out of 11 sectors total). The main contributors were the IT, consumer discretionary, and health care sectors. The communication services sector was the sole detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
ClearBridge Investments Sustainability Leaders Strategy, in its Q4 2021 investor letter, mentioned Eaton Corporation plc (NYSE:ETN) and discussed its stance on the firm. Founded in 1911, Eaton Corporation plc (NYSE:ETN) is a Dublin, Ireland-based multinational power management company with a $60.3 billion market capitalization, and is currently spearheaded by its CEO, Craig Arnold. Eaton Corporation plc (NYSE:ETN) delivered a -12.67% return since the beginning of the year, while its 12-month returns are up by 6.94%. The stock closed at $150.92 per share on April 04, 2022.
Here is what ClearBridge Investments Sustainability Leaders Strategy has to say about Eaton Corporation plc (NYSE:ETN) in its Q4 2021 investor letter:
“We remain active in combating climate change through a large variety of holdings across several sectors, including through investing in clean energy enablers such as new position Eaton, in the industrials sector. Eaton is a market share leader in the electrical equipment industry with a broad array of products that enable the electrification of the power grid and, importantly, electrical vehicle charging infrastructure. The company’s electrical product lineup is critical to both energy saving and long-term electrification of the global economy; management has proactively moved the portfolio toward products enabling energy efficiency. The company also has a long history of actively supporting diversity and inclusion actions in all levels of the company, driven by strong commitments from senior management and an engaged and sustainability-focused board.”
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Our calculations show that Eaton Corporation plc (NYSE:ETN) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Eaton Corporation plc (NYSE:ETN) was in 43 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 45 funds in the previous quarter. Eaton Corporation plc (NYSE:ETN) delivered a -11.98% return in the past 3 months.
In January 2022, we also shared another hedge fund’s views on Eaton Corporation plc (NYSE:ETN) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
