Portfolio Manager Margaret Vitrano of ClearBridge Investments says that Visa Inc (V) is a company that has many characteristics she looks for in a core portfolio holding.
“Visa operates an electronic payment network, so it is a beneficiary of the trend away from using cash as payment and toward using credit cards or debit cards to pay for things. Higher adoption of electronic payments is a secular trend that has been underway for some time, but one that we believe should continue for the foreseeable future,” Vitrano said.
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Although Visa is profitable, Vitrano says the company is not sitting back while the electronic payments industry continues to move forward.
“Visa generates high returns, but the management team is not resting on its laurels. The company has been re-investing in its business to ensure that it stays relevant as the payments industry continues to innovate,” Vitrano said.
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