Dresser-Rand Group and
Posted: Thu Jul 10, 2025 6:31 am
software and design programs for engineers and architects. In addition, bank ATM-maker
Diebold added nicely to results. Early in the quarter, the company announced strong
earnings, driven by a double-digit jump in their core financial self-service business and thepo sitive results carried until the end of the quarter.
In industrials, stock selection was positive in the professional services, building product
and road and rail industries. Manpower Group, Owens Corning and Hertz Global Holdings
all aided returns this quarter. Owens mobile database Corning benefited in the first quarter from positive
data points related to housing. Hertz advanced on positive movement from competitors, showing strong equipment rental activity.
Elsewhere, in financials, the sector benefited from its overweight to the real estate management and commercial banking industries, as well as from positive stock selection
in insurance. Finally, in utilities, the portfolio derived most of its outperformance from not owning several
underperforming electric and independent utilities that were held in the benchmark. On the downside, in health care, stock selection was negative, especially in the equip mentand supplies industry, as well as in the providers and services industry. Teleflex, a
surgical and critical care devices company, detracted from results on a relative basis.
In energy, both negative stock selection and an overweight to the sector detracted from results this quarter. On the equipment and services side, investor concerns regarding weak natural gas prices and the potential for demand destruction from high oil prices led high-beta energy stocks to underperform, including both
Diebold added nicely to results. Early in the quarter, the company announced strong
earnings, driven by a double-digit jump in their core financial self-service business and thepo sitive results carried until the end of the quarter.
In industrials, stock selection was positive in the professional services, building product
and road and rail industries. Manpower Group, Owens Corning and Hertz Global Holdings
all aided returns this quarter. Owens mobile database Corning benefited in the first quarter from positive
data points related to housing. Hertz advanced on positive movement from competitors, showing strong equipment rental activity.
Elsewhere, in financials, the sector benefited from its overweight to the real estate management and commercial banking industries, as well as from positive stock selection
in insurance. Finally, in utilities, the portfolio derived most of its outperformance from not owning several
underperforming electric and independent utilities that were held in the benchmark. On the downside, in health care, stock selection was negative, especially in the equip mentand supplies industry, as well as in the providers and services industry. Teleflex, a
surgical and critical care devices company, detracted from results on a relative basis.
In energy, both negative stock selection and an overweight to the sector detracted from results this quarter. On the equipment and services side, investor concerns regarding weak natural gas prices and the potential for demand destruction from high oil prices led high-beta energy stocks to underperform, including both