Is Welbilt (WBT) Still a Worthy Investment Pick?

Turtle Creek Asset Management, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. For the first quarter of 2022, Aristotle Atlantic’s Large Cap Growth Composite posted a total return of -9.61% gross of fees (9.72% net of fees), underperforming the -9.04% total return of the Russell 1000 Growth Index. Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Turtle Creek Asset Management mentioned Welbilt, Inc. (NYSE:WBT) and explained its insights for the company. Founded in 1864, Welbilt, Inc. (NYSE:WBT) is a New Port Richey, Florida-based commercial company with a $3.3billion market capitalization. Welbilt, Inc. (NYSE:WBT) delivered a -0.25% return since the beginning of the year, while its 12-month returns are down by -3.77%. The stock closed at $23.71 per share on June 01, 2022.

Here is what Turtle Creek Asset Management has to say about Welbilt, Inc. (NYSE:WBT) in its Q1 2022 investor letter:

“The final example is Welbilt Inc. (NYSE:WBT), a company we had followed for years, but only added to our portfolio in mid-2020. As with many companies, its share price declined significantly in the March 2020 COVID Crash, falling by more than two-thirds. But whereas the share prices of many of the companies we owned quickly rebounded, Welbilt’s share price was still at a low point months later. By July of 2020, the stock was relatively attractive, so we added it to both TCEF and Turtle Creek United States Equity Fund at around $6.50 per share.⁵ During the last quarter of 2020, the share price rose into the low teens, during which time we trimmed the position by half…” (Click here to see the full text)

Antonio Guillem/Shutterstock.com

Our calculations show that Welbilt, Inc. (NYSE:WBT) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Welbilt, Inc. (NYSE:WBT) was in 31 hedge fund portfolios at the end of the first quarter of 2022, compared to 35 funds in the previous quarter. Welbilt, Inc. (NYSE:WBT) delivered a -0.38% return in the past 3 months.

Earlier this month, we published an article that includes Welbilt, Inc. (NYSE:WBT) in the 10 Best Stocks to Buy According to Billionaire Carl Icahn. 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.