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What Makes Vertiv Holdings Co (VRT) a Top Contributor of Carillon Eagle Mid Cap Growth Fund

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. Mid-cap stocks demonstrated strength carried over from the end of last year, delivering robust returns during the first quarter. Among the style indexes, the Russell Midcap® Growth Index outperformed the Russell Midcap® Value Index by a modest margin, with growth up 9.49% and value up 8.23%. All sectors in the Russell Midcap Growth Index delivered positive gains during the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Carillon Eagle Mid Cap Growth Fund highlighted stocks like Vertiv Holdings Co (NYSE:VRT), in the first quarter 2024 investor letter. Vertiv Holdings Co (NYSE:VRT) designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments. The one-month return of Vertiv Holdings Co (NYSE:VRT) was 11.98%, and its shares gained 432.01% of their value over the last 52 weeks. On May 29, 2024, Vertiv Holdings Co (NYSE:VRT) stock closed at $103.21 per share with a market capitalization of $38.636 billion.

Carillon Eagle Mid Cap Growth Fund stated the following regarding Vertiv Holdings Co (NYSE:VRT) in its first quarter 2024 investor letter:

“Vertiv Holdings Co (NYSE:VRT) is a global leader in the design, manufacturing and servicing of critical infrastructure for data centers and communication networks. The company is well-positioned to benefit from the acceleration in data center spending, which is being driven by the rapid growth in high-performance computing and artificial intelligence. This backdrop is resulting in both new and retrofitted data centers that require significantly more power and cooling content. Vertiv has leading positions in data center power and thermal management, as well as key relationships with both the largest semiconductor companies providing the next-generation chip technology and the hyperscaler companies that are at the forefront of deploying artificial intelligence.”

A close-up of a group of technicians working on complex data center systems.

Vertiv Holdings Co (NYSE:VRT) had a strong start in 2024 with an 8% increase in first quarter sales. Vertiv Holdings Co (NYSE:VRT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 85 hedge fund portfolios held Vertiv Holdings Co (NYSE:VRT) at the end of the first quarter which was 75 in the previous quarter.

In another article, we discussed Vertiv Holdings Co (NYSE:VRT) and shared the list of unstoppable growth stocks to buy. Baron Small Cap Fund commented about Vertiv Holdings Co (NYSE:VRT) in its first quarter 2024 investor letter. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

If you are looking for an AI stock that is as promising as Microsoft but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.

Disclosure: None. This article is originally published at Insider Monkey.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

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A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

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Should I put my money in Artificial Intelligence?

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Click to continue reading…