Here’s Why You Should Invest in Shoals Technologies Group (SHLS) – Yahoo Finance
ClearBridge Investments, an investment management company, released its “ClearBridge Sustainability Leaders Strategy” third 2022 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark in the third quarter, the Russell 3000 Index. Only the industrial sector contributed positively to the strategy’s absolute performance among the ten sectors the strategy invested in. The significant performance detractors were materials, consumer discretionary, and real estate sectors. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Investments highlighted stocks like Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the Q3 2022 investor letter. Headquartered in Portland, Tennessee, Shoals Technologies Group, Inc. (NASDAQ:SHLS) produces EBOS for solar energy projects. On November 22, 2022, Shoals Technologies Group, Inc. (NASDAQ:SHLS) stock closed at $30.39 per share. One-month return of Shoals Technologies Group, Inc. (NASDAQ:SHLS) was 34.47%, and its shares gained 1.17% of their value over the last 52 weeks. Shoals Technologies Group, Inc. (NASDAQ:SHLS) has a market capitalization of $3.45 billion.
ClearBridge Investments made the following comment about Shoals Technologies Group, Inc. (NASDAQ:SHLS) in its Q3 2022 investor letter:
“Shoals Technologies Group, Inc. (NASDAQ:SHLS) manufactures electrical balance of systems (EBOS) components for ground-mounted solar projects and has been gaining market share for quality of service and price. Shoals is also starting to develop an EV charging infrastructure business. We previously owned Shoals and sold our position earlier this year as supply chain issues were negatively affecting margins. Improving supply chain dynamics should support the stock, and tax credits for clean energy production and investment in the IRA should further act as a tailwind for Shoals.”
Photo by Science in HD on Unsplash
Shoals Technologies Group, Inc. (NASDAQ:SHLS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held Shoals Technologies Group, Inc. (NASDAQ:SHLS) at the end of the third quarter, which was 23 in the previous quarter.
We discussed Shoals Technologies Group, Inc. (NASDAQ:SHLS) in another article and shared the list of stocks that were trending on November 15. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Gabelli’s 11 High Dividend Stocks
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10 Biggest EV Charging Companies in Europe
Disclosure: None. This article is originally published at Insider Monkey.
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