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Investors are making a dramatic shift from growth to value. Momentum became a four-letter word in early March, and as data from Strategas Research Partners illustrate, it still is.

Strategas founder Jason Trennert included the chart in his daily note as a response to what he calls one of his five most frequently asked questions: What are your thoughts on the nature of the rotation?

He addresses a number of recent shifts: small cap to large cap; consumer to cyclical; growth to value. He believes the single most important catalyst behind the change has been Federal Reserve Chair Janet Yellen's signals of possible tightening in early 2015. While this is cause for concern at first blush, he argues central bank liquidity abroad and steady growth in the U.S. will propel U.S. corporate profits higher, even as they're already at an all-time high. Bottom line, he advises clients: "Stay cyclical and stay vigilant."

Taking Jason's counsel a step further, we screened the 336 members of the S&P 500 Value Index for companies with above-average growth at below-average prices.

We identified a total of 23 companies, eight of which we shared on air. Given superior growth and cheaper valuation, we too see value. We also note the group is up 2.1 percent year-to-date, slightly ahead of the broader S&P 500 Index (+1 percent).

Archer-Daniels-Midland Co. (ADM ), CA, Inc. (CA ), Corning Inc (GLW ), Devon Energy Corporation (DVN ), DR Horton Inc (DHI ), Gannett Co. (GCI ), The Gap, Inc. (GPS ), Genworth Financial Inc. (GNW ), Lam Research Corporation (LRCX ), Marathon Petroleum Corporation (MPC ), Morgan Stanley (MS ), The NASDAQ OMX Group, Inc. (NDAQ ), NetApp, Inc. (NTAP ), Noble Corporation PLC (NE ), Phillips 66 (PSX ), Raytheon Company (RTN ), Rowan Companies plc (RDC ), SunTrust Banks, Inc. (STI ), Tesoro Corporation (TSO ), Tyson Food, Inc. (TSN ), Valero Energy Corporation (VLO ), Verizon Communications Inc. (VZ ) and Whirlpool Corporation (WHR ).

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