Should You Sell CAE?

ClearBridge Investments, an investment management company, released its “ClearBridge International Growth EAFE Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. Holdings in Europe and the United Kingdom made significant contributions to the Strategy’s performance, which exceeded its benchmark, the MSCI EAFE Index. The strategy generated gains across nine of the ten sectors in which it was invested during the quarter, on an absolute basis. Overall sector allocation contributed to the performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge International Growth EAFE Strategy featured stocks such as CAE Inc. (NYSE:CAE) in its Q4 2023 investor letter. Headquartered in Saint-Laurent, Canada, CAE Inc. (NYSE:CAE) is a simulation training and critical operations support provider that operates through Civil Aviation, Defense and Security, and Healthcare segments. On January 8, 2024, CAE Inc. (NYSE:CAE) stock closed at $21.39 per share. One-month return of CAE Inc. (NYSE:CAE) was 5.47%, and its shares gained 4.49% of their value over the last 52 weeks. CAE Inc. (NYSE:CAE) has a market capitalization of $6.808 billion.

ClearBridge International Growth EAFE Strategy stated the following regarding CAE Inc. (NYSE:CAE) in its fourth quarter 2023 investor letter:

“Our largest sales were Tencent and CAE Inc. (NYSE:CAE). We took profits in Canadian aerospace and defense training provider CAE to fund better opportunities, as the post-COVID recovery in civil pilot training has already progressed well and earnings have recovered.”

Engineering, Construction, Company

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CAE Inc. (NYSE:CAE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 11 hedge fund portfolios held CAE Inc. (NYSE:CAE) at the end of third quarter which was 13 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 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.