In this article, we will take a look at the 10 new stocks to buy in 2021 according to Jos Shaver’s Electron Capital.
Based in New York, Electron Capital Partners is a hedge fund advisor that concentrates on infrastructure and utility-based stocks. The hedge fund was relaunched in 2013 by James Oscar Shaver also known as Jos Shaver. He is currently the portfolio manager of Electron Capital Partners.
Jos Shaver holds a BA degree in Mathematical Economics from Colgate University. He has done his MBA from Columbia Business School, majoring in Finance and Accounting. Before joining Electron Capital, Jos Shaver worked for SG Barr Devlin as Senior Investment Banker.
As of the second quarter of 2021, Electron Capital Partners has a portfolio value of $2.06 billion.
The top three holdings of the hedge fund include AES Corp (NYSE:AES), Exelon Corporation (NASDAQ:EXC), and PG&E Corporation (NASDAQ:PCG). Electron Capital also has a considerable investment in BlackBerry Limited (NYSE:BB).
Our Methodology
This list was compiled after analyzing the new picks of Electron Capital Partners in the second quarter of 2021. The hedge fund initiated new positions in these stocks in the second quarter.
Why should we pay attention to hedge funds’ stock picks? Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021, our monthly newsletter’s stock picks returned 186.1%, vs 100.1% for the SPY. Our stock picks outperformed the market by 86 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
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10 New Stocks to Buy in 2021 According to Jos Shaver’s Electron Capital
10. A. O. Smith Corporation (NYSE:AOS)
Electron Capital Partners’ Stake Value: $17.64 million
Percent of Electron Capital Partners’ Portfolio: 0.85%
Number of Hedge Fund Holders: 26
O. Smith Corporation (NYSE:AOS), a manufacturer of residential and commercial electric and gas appliances products, is based in Wisconsin.
26 out of the 873 hedge funds have stakes worth $584 million in A. O. Smith Corporation as tracked by Insider Monkey in the second quarter of 2021.
On October 5, 2021, Baird upgraded its rating on A. O. Smith Corporation to “Outperform” from “Neutral” and raised its price tag to $85 from the previously announced $82.
9. Denbury Inc. (NYSE:DEN)
Electron Capital Partners’ Stake Value: $20.69 million
Percent of Electron Capital Partners’ Portfolio: 1%
Number of Hedge Fund Holders: 29
Denbury Inc. (NYSE:DEN) is based in Texas and works in the oil and gas industry by exploring and producing oil from the Gulf coasts. The company reported revenue of $301 million in the second quarter of 2021, reporting a 155% increase on a YoY basis in the quarterly revenue.
In the second quarter, Denbury Inc. has investments from 29 hedge funds, according to the database of Insider Monkey, valued at $996 million. With 4.42 million shares valued at $339 million, Silver Point Capital is the biggest hedge fund investor in the company.
Denbury Inc. has a “Buy” rating from MKM Partners and a price target of $96. The company’s initiative to support carbon-capturing technologies is supporting the positive growth of the company.
In the second quarter, the company reported an EPS of $0.61, beating the market estimates by $0.13.
Like Exelon Corporation, PG&E Corporation, and BlackBerry Limited, A. O. Smith Corporation is under the radar of Electron Capital.
8. Vistra Corp. (NYSE:VST)
Electron Capital Partners’ Stake Value: $21.7 million
Percent of Electron Capital Partners’ Portfolio: 1.04%
Number of Hedge Fund Holders: 32
Vistra Corp. (NYSE:VST) is based in Texas and provides its services in the utility industry. The company is engaged in delivering electricity and natural gas to residential, commercial, and industrial consumers. It serves 4.5 million customers nationwide with a power generation capacity of 38,700 megawatts. The company has operations in 20 states of the US.
On September 17, 2021, Morgan Stanley raised its price target on Vistra Corp. to $29 from $27, keeping an “Overweight” rating.
At the end of the second quarter of 2021, Electron Capital Partners holds 1.16 million shares in Vistra Corp., worth $21.7 million. Vistra Corp. accounts for 1.04% of the 13F portfolio.
7. CSX Corporation (NYSE:CSX)
Electron Capital Partners’ Stake Value: $26.93 million
Percent of Electron Capital Partners’ Portfolio: 1.3%
Number of Hedge Fund Holders: 56
CSX Corporation (NYSE:CSX) is a Florida-based company with operations in the railroad industry. The company provides freight transportation in the US and Canada. The company has a railroad network of 19,500 miles.
On September 17, 2021, RBC Capital downgraded its rating of CSX Corporation to “Perform” from “Outperform,” reducing the price target to $32 from $37.
At the end of the second quarter of 2021, Electron Capital Partners holds 839,484 shares in CSX Corporation, worth $26.9 million.
CSX Corporation is one of the noteworthy additions to Electron Capital’s 13F portfolio like Exelon Corporation, PG&E Corporation, and BlackBerry Limited.
6. Zimmer Energy Transition Acquisition Corp. (NASDAQ:ZTAQU)
Electron Capital Partners’ Stake Value: $30.5 million
Percent of Electron Capital Partners’ Portfolio: 1.47%
Number of Hedge Fund Holders: N/A
Zimmer Energy Transition Acquisition Corp. (NASDAQ:ZTAQU) is based in New York and was formed as a special purpose acquisition company to affect a merger, asset acquisition, or business combination. Incorporated in 2021, Stuart Jason Zimmer is the Chairman and CEO of the company.
Zimmer Energy Transition Acquisition Corp. went public in June 2021 and raised $345 million through its initial public offering. The company is searching for target businesses operating in the energy industry, focusing on energy transition and sustainability in North America.
5. Trane Technologies plc (NYSE:TT)
Electron Capital Partners’ Stake Value: $36.8 million
Percent of Electron Capital Partners’ Portfolio: 1.78%
Number of Hedge Fund Holders: 37
Trane Technologies plc (NYSE:TT) is based in Ireland and is involved in the industrial machinery industry. It designs, manufactures, and sells climate control products for heating, air conditioning, and ventilation.
At the end of the second quarter of 2021, Electron Capital Partners holds 199,969 shares in Trane Technologies plc (NYSE:TT), worth $36.8 million. Trane Technologies plc (NYSE:TT) accounts for 1.78% of the 13F portfolio. With this, Trane Technologies plc (NYSE:TT) ranks seventh on our list of 10 new stocks to buy in 2021 according to Jos Shaver’s Electron Capital.
4. Edison International (NASDAQ:EIX)
Electron Capital Partners’ Stake Value: $40.5 million
Percent of Electron Capital Partners’ Portfolio: 1.96%
Number of Hedge Fund Holders: 18
Edison International (NASDAQ:EIX) is based in California and operates in the utility sector. It generates and distributes electric power to commercial, residential and industrial consumers. The company has a strong base of 15 million customers.
According to the database of Insider Monkey tracking 873 hedge funds in Q2 2021, 18 funds have stakes in Edison International, worth $1.38 billion.
3. First Solar Inc. (NASDAQ:FSLR)
Electron Capital Partners’ Stake Value: $40.8 million
Percent of Electron Capital Partners’ Portfolio: 1.97%
Number of Hedge Fund Holders: 31
First Solar, Inc. (NASDAQ:FSLR), headquartered in Arizona, operates in the solar energy industry. It provides photovoltaic solar energy solutions, including modules and systems. The company operates internationally with significant operations in the US, Canada, France, Australia, India, and Japan. It was founded in 1999.
According to the database of Insider Monkey tracking 873 hedge funds in Q2 2021, 31 have stakes in First Solar, Inc., worth $317 million. This number has increased from 24 in the Q1 of 2021, worth $304 million.
2. Ford Motor Company (NASDAQ:F)
Electron Capital Partners’ Stake Value: $50.14 million
Percent of Electron Capital Partners’ Portfolio: 2.42%
Number of Hedge Fund Holders: 55
According to the database of Insider Monkey tracking 873 hedge funds in Q2 2021, 55 funds have stakes in Ford Motor Company. (NASDAQ:F), worth $2.11 billion. This number has increased from 49 in the Q1 of 2021.
As of the second quarter of 2021, Electron Capital Partners holds 3.37 million shares of the company, worth $50.14 million.
1. The AES Corporation. (NASDAQ:AES)
Electron Capital Partners’ Stake Value: $69 million
Percent of Electron Capital Partners’ Portfolio: 3.34%
Number of Hedge Fund Holders: 39
The AES Corporation. is based in Virginia and was incorporated in 1981. The company works in the energy sector producing and delivering power to utilities, industrial users, and other intermediates. It uses various fuels to generate power. Its operations are expanded in the US, Latin America, Central America, and Europe.
On August 6, 2021, Wolfe Research upgraded the rating of The AES Corporation. to “Outperform” from “Peer Perform” and set its price target to $29.
According to the database of Insider Monkey tracking 873 hedge funds in Q2 2021, 39 funds have stakes in The AES Corporation., worth $1.42 billion.
You can also take a peek at Top 10 Stocks to Buy According to Charles Pollnow’s Triple Frond Partners and 10 Best Safe Dividend Stocks According to Billionaire Dan Loeb.
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Suggested articles:
- Top 10 Stocks to Buy According to Charles Pollnow’s Triple Frond Partners.
- 10 Best Safe Dividend Stocks According to Billionaire Dan Loeb
- 10 Best REIT Dividend Stocks According to Hedge Funds
This article is originally published at Insider Monkey.
