The London Company, an investment management company, released “The London Company Small Cap Strategy” first quarter 2024 investor letter. A copy of the letter can be downloaded here. In the quarter, the fund gained 8.3% (8.2%, net) compared to a 5.2% increase in the Russell 2000 Index. Stock selection led the portfolio to outperform in the quarter, partially offset by sector exposure. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
The London Company Small Cap Strategy featured stocks like Vontier Corporation (NYSE:VNT) in the first quarter 2024 investor letter. Headquartered in Raleigh, North Carolina, Vontier Corporation (NYSE:VNT) offers mobility ecosystem solutions worldwide. On May 3, 2024, Vontier Corporation (NYSE:VNT) stock closed at $39.44 per share. One-month return of Vontier Corporation (NYSE:VNT) was -8.96%, and its shares gained 43.31% of their value over the last 52 weeks. Vontier Corporation (NYSE:VNT) has a market capitalization of $6.09 billion.
The London Company Small Cap Strategy stated the following regarding Vontier Corporation (NYSE:VNT) in its first quarter 2024 investor letter:
“Vontier Corporation (NYSE:VNT) – VNT outperformed to start the year as the company continues to show progress on its portfolio transformation efforts and drive efficiencies across the core business. Underlying demand has been stronger than expected, driven by industry consolidation, site buildouts, and technology modernization. Management has made encouraging progress optimizing the cost structure, and opportunity remains to improve profitability over the medium- term. We believe VNT’s portfolio of resilient franchises remains well positioned to serve its large customer base with a variety of value-added solutions to capitalize on emerging trends within the mobility market.”
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Vontier Corporation (NYSE:VNT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Vontier Corporation (NYSE:VNT) was held by 28 hedge fund portfolios, compared to 23 in the previous quarter, according to our database.
We previously discussed Vontier Corporation (NYSE:VNT) in another article, where we shared Artisan Mid Cap Value Fund’s views on the company. In addition, please check out our hedge fund investor letters Q1 2024 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.