14 Best Environmental Stocks to Buy Now

In this article, we will discuss the 14 best environmental stocks to buy now.

ESG or Impact investing is a type of investing that seeks to generate social or environmental benefits in addition to a financial return. Impact investing is a growing area of finance that has gained traction in recent years as more investors, companies, and fund managers seek to align their investments with their values. ESG investors use their financial resources to generate positive change in the world, by investing in companies, funds, and projects that are focused on solving social and environmental problems. This sort of investing strategy is often seen as a way for investors to generate long-term returns while also making an impact in the world. By investing in companies and projects that are focused on solving social and environmental problems, investors can help to create a more equitable and sustainable future. Impact investing can also help to create economic opportunities for communities that are often overlooked or underserved.

Environmental investing has become increasingly popular in recent years as investors become more conscious of the environmental impact of their portfolios. This trend has been driven by the rise of sustainable investing, which looks to integrate environmental, social, and corporate governance (ESG) considerations into the investment process. According to a report by PwC, asset managers across the globe held roughly $18.4 trillion in ESG-related assets under management in 2021. This figure is expected to grow to $33.9 trillion by 2026, at a compound annual growth rate of 12.9%. ESG-related assets under management are on track to account for roughly 21.5% of global assets under management by 2026.

Investing in environmental stocks can be a great way to make a positive contribution to the environment while also making a financial return. Environmental stocks are stocks of companies that are focused on sustainability, renewable energy, energy efficiency, and other green initiatives. These companies are at the forefront of the green revolution and they are making a real impact on the world. Some of the biggest companies in the world such as Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG) are working tirelessly every day to become more ESG-compliant. However, this article will focus on the best pure-play environmental stocks to buy now.

Photo by Possessed Photography on Unsplash

Our Methodology

We screened for companies that are focusing on developing clean and green technologies and products. We studied these companies’ business models, product pipelines, and the industries they belong to. We also gave weight to the market sentiment around each company and picked stocks that had positive analyst and investor sentiment. Along with each stock, we have mentioned analyst ratings, the hedge fund sentiment, and salient features that make them good investment options to consider. These stocks are ranked according to their popularity among elite money managers.

14 Best Environmental Stocks to Buy Now

14. Wallbox N.V. (NYSE:WBX)

Number of Hedge Fund Holders: 4

Wallbox N.V. (NYSE:WBX) is a leading provider of electric vehicle charging solutions. The company designs, manufactures, and sells a range of electric vehicle chargers and related products to consumers and businesses throughout Europe, North America, and the rest of the world. Wallbox N.V. (NYSE:WBX) has been a pioneer in the electric vehicle charging market and is well-positioned to capitalize on the growing demand for electric vehicles and the need for reliable charging solutions. The company is committed to providing safe, reliable, and cost-effective solutions to meet the needs of its customers. The stock is placed among the best environmental stocks to buy now.

On November 9, Wallbox N.V. (NYSE:WBX) announced earnings for the fiscal third quarter of 2022. The company reported a revenue of EUR 44 million, up 140% year over year. Shortly after the company’s earnings release, Canaccord analyst George Gianarikas revised his price target on Wallbox N.V. (NYSE:WBX) to $13 from $14 and maintained a Buy rating on the shares. On November 22, Northland analyst Abhishek Sinha started coverage of Wallbox N.V. (NYSE:WBX) with an Outperform rating and a $16 price target.

At the end of the third quarter of 2022, 4 hedge funds were long Wallbox N.V. (NYSE:WBX) and disclosed positions worth $15.45 million in the company. This is compared to 5 positions in the previous quarter with stakes worth $13.27 million. As of September 30, LMR Partners is the top investor in Wallbox N.V. (NYSE:WBX) and has a position worth $15 million in the company.

Some of the most notable mega-caps that are prioritizing their ESG goals include Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG).

13. ChargePoint Holdings, Inc. (NYSE:CHPT)

Number of Hedge Fund Holders: 13

ChargePoint Holdings, Inc. (NYSE:CHPT) is another leading electric vehicle (EV) charging network company. The company designs, develops, manufactures, installs, and operates EV charging stations. ChargePoint Holdings, Inc. (NYSE:CHPT) is well-positioned to capitalize on the growing demand for electric vehicle (EV) charging infrastructure and is ranked among the best environmental stocks to buy now.

On December 1, ChargePoint Holdings, Inc. (NYSE:CHPT) posted earnings for the third quarter of fiscal 2023, in which it outperformed EPS estimates by $0.02. The company’s revenue grew by 92.73% year over year and amounted to $125.34 million for the quarter. Shortly after the company’s earnings release, R.F. Lafferty analyst Jaime Perez updated his price target on ChargePoint Holdings, Inc. (NYSE:CHPT) to $28 from $34 and reiterated a Buy rating on the shares.

At the close of Q3 2022, 13 hedge funds were long ChargePoint Holdings, Inc. (NYSE:CHPT) and disclosed stakes worth $71.6 million in the company. This is compared to 17 positions in the preceding quarter with stakes worth $22.8 million.

12. Brookfield Renewable Partners L.P. (NYSE:BEP)

Number of Hedge Fund Holders: 19

Brookfield Renewable Partners L.P. (NYSE:BEP) is a renewable energy company headquartered in Hamilton, Ontario. The company is the leading owner and operator of renewable energy assets with a portfolio of over 16,000 megawatts of installed capacity across North America, South America, Europe, and Asia. The company owns and operates a diversified mix of hydro, wind, solar, and storage assets that generate clean, reliable, and cost-competitive energy for its customers. Brookfield Renewable Partners L.P. (NYSE:BEP) has a commitment to sustainability and a track record of investing in renewable energy projects that benefit local communities and economies. The stock is one of the best environmental stocks to buy now.

Wall Street is bullish on Brookfield Renewable Partners L.P. (NYSE:BEP). On October 18, TD Securities analyst Sean Steuart reinstated coverage of Brookfield Renewable Partners L.P. (NYSE:BEP) with a Buy rating and a $41 price target.

At the end of the third quarter of 2022, 19 hedge funds disclosed ownership of stakes in Brookfield Renewable Partners L.P. (NYSE:BEP). The total value of these stakes amounted to $161.2 million. Of these funds, Select Equity Group was the largest investor in the company and held a position worth $61.2 million.

11. The Hain Celestial Group, Inc. (NASDAQ:HAIN)

Number of Hedge Fund Holders: 22

The Hain Celestial Group, Inc. (NASDAQ:HAIN) is an innovative and market-leading organic food company. The company produces, markets, distributes, and sells several categories of natural and organic products. The Hain Celestial Group, Inc. (NASDAQ:HAIN) sells its products in over 70 countries across the world and has a compelling portfolio of organic food brands including Celestial Seasonings, Cully & Sully, Earth’s Best, Ella’s Kitchen, and Frank Cooper’s among others. The Hain Celestial Group, Inc. (NASDAQ:HAIN) has a strong presence in the natural and organic food industry and is well-positioned to benefit from the secular growth trends in the industry. The stock is one of the best environmental stocks to buy now.

This November, Mizuho analyst John Baumgartner raised his price target on The Hain Celestial Group, Inc. (NASDAQ:HAIN) to $18 from $16 and maintained a Neutral rating on the shares. On November 29, CL King analyst Andrew Wolf reiterated a Buy rating and his $25 price target on The Hain Celestial Group, Inc. (NASDAQ:HAIN).

At the close of the third quarter of 2022, The Hain Celestial Group, Inc. (NASDAQ:HAIN) was spotted on 22 hedge funds’ portfolios that disclosed positions worth $120.3 million in the company. Of those, Paradice Investment Management was the dominant investor in the company and held a position worth $24.6 million.

Here is what Madison Funds had to say about The Hain Celestial Group, Inc. (NASDAQ:HAIN) in its third-quarter 2022 investor letter:

“Consumer Staples continue to drive relative underperformance in our portfolio. Hain Food’s European exposure continues to be pressured by the geopolitical and macroeconomic pressures dominating the continent and the UK. Although we lowered our exposure to this name, the stock continued its decline as we head into a European winter that will be very challenging for consumers. Both energy and food prices are elevated and there is no relief in sight. We are observing the situation closely but feel the stock more than adequately discounts this risk. The outlook for HAIN in 2023 could be much easier as winter ends and perhaps a political solution is reached in the Ukrainian War. Hain’s North American business (~60% of revenue) is executing flawlessly.”

10. Clean Harbors, Inc. (NYSE:CLH)

Number of Hedge Fund Holders: 30

Clean Harbors, Inc. (NYSE:CLH) is a North American company that provides environmental and industrial services across North America. The company operates through two segments: Environmental Services and Safety-Kleen Sustainability Solutions. The company’s core services include hazardous waste management, hazardous materials transportation, industrial cleaning, and environmental compliance and consulting. Clean Harbors, Inc. (NYSE:CLH) is committed to protecting the environment, providing responsible and safe solutions to its customers, and developing innovative technologies to increase efficiency and reduce costs. The stock is placed on our list of the best environmental stocks to buy now.

Clean Harbors, Inc. (NYSE:CLH) is profitable and efficient at making profits for shareholders. The company has a trailing twelve-month operating margin of 11.41% and an ROE of 22.92%. As of December 2, the stock is trading at a PE multiple of 16x. On November 3, Baird analyst David Manthey raised his price target on Clean Harbors, Inc. (NYSE:CLH) to $155 from $150 and reiterated an Outperform rating on the shares.

At the end of Q3 2022, 30 hedge funds were long Clean Harbors, Inc. (NYSE:CLH) and disclosed positions worth $496.69 million in the company. This is compared to 28 hedge funds in the previous quarter with stakes worth $407.81 million. The hedge fund sentiment for the stock is positive. As of September 30, Impax Asset Management is the top investor in the company and has stakes worth $122.98 million.

9. Plug Power, Inc. (NASDAQ:PLUG)

Number of Hedge Fund Holders: 32

Plug Power, Inc. (NASDAQ:PLUG) is one of the leading players in the fuel cell market. The company provides end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power markets, and others in North America and across the globe.  Plug Power, Inc. (NASDAQ:PLUG) is well-positioned to benefit from the increasing demand for fuel cell technology in the transportation, industrial, and energy storage markets and is ranked among the best environmental stocks to buy now.

This November, Susquehanna analyst Biju Perincheril revised his price target on Plug Power, Inc. (NASDAQ:PLUG) to $28 from $30 and reiterated a Positive rating on the shares. On November 9, Cowen analyst Jeffrey Osborne updated his price target on Plug Power, Inc. (NASDAQ:PLUG) to $30 from $33 and maintained an Outperform rating on the shares.

At the close of the third quarter of 2022, 32 hedge funds were bullish on Plug Power, Inc. (NASDAQ:PLUG) and disclosed positions worth $373.4 million in the company. This is compared to 26 hedge funds in the preceding quarter with stakes worth $258.8 million. The hedge fund sentiment for the stock is positive. As of September 30, D E Shaw is the top investor in the company and has a position worth $125.12 million.

8. General Mills, Inc. (NYSE:GIS)

Number of Hedge Fund Holders: 40

General Mills, Inc. (NYSE:GIS) is a well-established leader in the packaged food industry, with a long history of success and a large and growing global footprint. Its portfolio of brands is well-known and highly recognizable, including leading products such as Annie’s, Betty Crocker, Nature Valley, Yoplait, and Pillsbury among others. Its products are widely available, with a presence in more than 100 countries and a strong network of distributors and retailers. General Mills, Inc. (NYSE:GIS) is best known for its cereals, snacks, and baking products, and the company has been expanding its organic food business. General Mills, Inc. (NYSE:GIS) is well-positioned to grow its organic food business due to the company’s size and scale and abundant cash resources. According to the company’s balance sheet, General Mills, Inc. (NYSE:GIS) has free cash flows of $2.77 billion and is ranked among the best environmental stocks to buy now.

This September, Piper Sandler analyst Michael Lavery raised his price target on General Mills, Inc. (NYSE:GIS) to $88 from $80 and reiterated an Overweight rating on the shares. On November 15, Exane BNP Paribas analyst Max Gumport took coverage of General Mills, Inc. (NYSE:GIS) with an Outperform rating and a $90 price target.

At the end of the third quarter of 2022, General Mills, Inc. (NYSE:GIS) was spotted on 40 hedge funds’ portfolios that disclosed positions of $933.6 million in the company.  This is compared to 35 hedge funds in the preceding quarter with stakes worth $965.6 million. As of September 30, Renaissance Technologies is the largest shareholder in the company and has a position worth $281.9 million.

Here is what Chartwell Investment Partners had to say about General Mills, Inc. (NYSE:GIS) in its second-quarter 2022 investor letter:

“In the Dividend Equity accounts, the three best performers in Q2 includes General Mills (NYSE:GIS, 3.2%), up 12.2%. General Mills benefitted from the combination of being in a very defensive industry as well as demonstrating solid business momentum; margins have been particularly impressive, following price increases.”

7. Republic Services, Inc. (NYSE:RSG)

Number of Hedge Fund Holders: 41

Republic Services, Inc. (NYSE:RSG) is a leading provider of environmental services in the United States. The company offers waste collection, transfer, and disposal services, as well as recycling and resource recovery services. Republic Services, Inc. (NYSE:RSG) has a strong market position and a healthy balance sheet with solid free cash flows. According to the company’s balance sheet, Republic Services, Inc. (NYSE:RSG) has free cash flows of $1.69 billion. The stock is placed on our list of the best environmental stocks to buy now.

On October 27, Republic Services, Inc. (NYSE:RSG) posted market-beating earnings for the third quarter of fiscal 2022. The company reported an EPS of $1.34 and beat estimates by $0.12. The company generated a revenue of $3.60 billion, up 22.63% year over year, and outperformed Wall Street consensus by $67.33 million. This October, Jefferies analyst Stephanie Moore took coverage of Republic Services, Inc. (NYSE:RSG) with a Buy rating and a $165 price target

At the close of Q3 2022, 41 hedge funds held stakes in Republic Services, Inc. (NYSE:RSG) worth $1.35 billion. This is compared to 33 positions in the previous quarter with stakes of $1.14 billion. The hedge fund sentiment for the stock is positive. As of September 30, Impax Asset Management is the top shareholder in the company and has a position worth $216.4 million.

6. Waste Management, Inc. (NYSE:WM)

Number of Hedge Fund Holders: 41

Waste Management, Inc. (NYSE:WM) is among the largest providers of comprehensive waste management services in North America, providing services that range from collection and disposal to recycling and renewable energy generation. Waste Management, Inc. (NYSE:WM) is profitable, cash-rich, and efficient at making profits for shareholders. These factors justify its inclusion in our rankings of the best environmental stocks to buy now. According to the company’s balance sheet, Waste Management, Inc. (NYSE:WM) has free cash flows of $1.97 billion, a trailing twelve-month operating margin of 17.17%, and an ROE of 31.67%.

Wall Street is bullish on Waste Management, Inc. (NYSE:WM). On October 24, Jefferies analyst Stephanie Moore took coverage of Waste Management, Inc. (NYSE:WM) and upgraded the stock to Buy from Hold, and also raised her price target on the shares to $191 from $170.

At the end of Q3 2022, Waste Management, Inc. (NYSE:WM) was a part of 41 investors’ portfolios that held collective stakes of $6.64 billion in the company. This is compared to 37 hedge funds in the preceding quarter with stakes worth $3.71 billion. The hedge fund sentiment for the stock is positive. As of September 30, Bill & Melinda Gates Foundation Trust is the top investor in the company and has disclosed a position worth $5.64 billion.

Mega-caps such as Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and Alphabet Inc. (NASDAQ:GOOG) are laser-focused on eradicating their carbon footprint from the world by 2030.

5. Ford Motor Company (NYSE:F)

Number of Hedge Fund Holders: 47

Ford Motor Company (NYSE:F) is a well-established, iconic American company with a long and storied history. It has a broad portfolio of vehicles, ranging from SUVs, pickup trucks, and sedans to commercial vehicles and luxury vehicles. Ford Motor Company (NYSE:F) has been investing heavily in its electric vehicle (EV) lineup, with plans of making electric vehicles account for half of its global sales by 2030. The stock is ranked high among the best environmental stocks to buy now.

On October 26, Ford Motor Company (NYSE:F) posted earnings for the third quarter of fiscal 2022. The company reported earnings per share of $0.30 and generated a revenue of $37.19 billion, up 11.99% year over year. The company has a strong cash position and is profitable. Ford Motor Company (NYSE:F) has free cash flows of $2.63 billion and a trailing twelve-month operating margin of 7.05%.

This November, Citi analyst Itay Michaeli raised his price target on Ford Motor Company (NYSE:F) to $14 from $13 and reiterated a Neutral rating on the shares.

At the close of Q3 2022, 47 hedge funds were long Ford Motor Company (NYSE:F) and disclosed positions worth $1.18 billion. This is compared to 46 positions in the previous quarter with stakes worth $608.7 million. The hedge fund sentiment for the stock is positive. As of September 30, Fisher Asset Management is the top investor in the company and has a position worth $503.6 million.

Here is what Leaven Partners had to say about Ford Motor Company (NYSE:F) in its third-quarter 2022 investor letter:

“In our last quarterly letter, I briefly mentioned that the consensus estimates for corporate profits appeared to be a bit too sanguine. I referenced a Reuters article that reported, as of June 17, Wall Street expected S&P 500 earnings to grow by 9.6% in 2022, which was up from 8.8% in April and from 8.4% in January. That tune began to change at the end of July and accelerated in August and September, as major players, such as Ford (NYSE:F), has recently issued profit warnings and/or have withdrawn guidance. In response, Wall Street has altered its outlook: lowering third-quarter profit growth to 4.6%^[2] from 7.2% in early August and slashing full-year profit growth to 4.5%.”

4. Linde plc (NYSE:LIN)

Number of Hedge Fund Holders: 56

Linde plc (NYSE:LIN) is an industrial gas company with a strong global presence and leading market share in many of its markets. The company is well-positioned to benefit from the global shift towards cleaner and more efficient energy sources and is placed among the best environmental stocks to buy now. The company has a long-term strategy in place to focus on sustainable growth and long-term value creation. Linde plc (NYSE:LIN) focuses on providing clean energy solutions such as hydrogen and natural gas. The company is investing in new technologies, such as green hydrogen, to meet the increasing demand for clean energy solutions and is well-positioned to benefit from the expected growth in the renewable energy sector.

Wall Street is bullish on Linde plc (NYSE:LIN). On October 31, Deutsche Bank analyst David Begleiter raised his price target on Linde plc (NYSE:LIN) to EUR 355 from EUR 350 and maintained a Buy rating on the shares.

At the end of the third quarter of 2022, 56 hedge funds were bullish on Linde plc (NYSE:LIN) and held positions worth $3.47 billion. This is compared to 48 positions in the previous quarter with stakes worth $3.25 billion. The hedge fund sentiment for the stock is positive. As of September 30, Impax Asset Management is the largest shareholder investor in the company and has stakes worth $816.9 million.

Here is what ClearBridge Investments had to say about Linde plc (NYSE:LIN) in its third-quarter 2022 investor letter:

“Seeing better opportunities elsewhere in the materials sector, we exited our position in Ecolab and added to copper producer Freeport-McMoRan (FCX), which supplies a much-needed resource for the energy transition, and specialty chemical company Linde plc (NYSE:LIN), which has historically held onto pricing gains it has achieved following increases in energy costs. We think this pricing power should protect profitability during the acute inflationary phase and potentially lead to margin expansion when cost pressures abate. Linde also continues to be well-positioned on hydrogen and carbon capture with contract-backed project capex likely accelerating in the medium term as the recently passed Inflation Reduction Act rolls out.”

3. Enphase Energy, Inc. (NASDAQ:ENPH)

Number of Hedge Fund Holders: 59

Enphase Energy, Inc. (NASDAQ:ENPH) is a leading provider of solar microinverter systems, which are used to convert solar energy into AC power. With the global push for renewable energy, Enphase Energy, Inc. (NASDAQ:ENPH) is well-positioned to benefit from the growing solar energy market and is one of the best environmental stocks to buy now. The company is profitable and has abundant cash resources to fund R&D and explore strategic M&A. According to the company’s balance sheet, Enphase Energy, Inc. (NASDAQ:ENPH) has free cash flows of $545 million and a trailing twelve-month operating margin of 17.61%.

On October 25, Enphase Energy, Inc. (NASDAQ:ENPH) posted market-beating earnings for the fiscal third quarter of 2022. The company reported an EPS of $1.25 and outperformed estimates by $0.16. The company’s revenue for the quarter amounted to $634.7 million, up 80.56% year over year and ahead of Wall Street expectations by 18.87 million.

Wall Street is bullish on Enphase Energy, Inc. (NASDAQ:ENPH). On November 14, Deutsche Bank analyst Corinne Blanchard took coverage of Enphase Energy, Inc. (NASDAQ:ENPH) with a Buy rating and a $330 price target.

At the end of the third quarter of 2022, Enphase Energy, Inc. (NASDAQ:ENPH) was a part of 59 hedge funds’ portfolios that held collective stakes of $2.20 billion in the company. This is compared to 53 hedge funds in the preceding quarter with stakes worth $1.14 billion. The hedge fund sentiment for the stock is positive. As of September 30, Two Sigma Advisors is the most prominent shareholder in the company and has stakes worth $393.70 million.

Here is what ClearBridge Investments had to say about Enphase Energy, Inc. (NASDAQ:ENPH) in its third-quarter 2022 investor letter:

“In IT, Enphase Energy, Inc. (NASDAQ:ENPH) delivered a strong quarter driven by secular growth in global rooftop solar, increased penetration into Europe, where demand accelerated, and a continued ramp up in battery storage sales. Also with a strong presence in the U.S., Enphase Energy designs and manufactures microinverters for residential and small commercial solar PV systems and has made strides in evolving from a solar inverter maker into a “home energy management” company that can act as the brains for the home’s energy system, including microinverters for solar, as well as storage and energy management software.”

2. NextEra Energy, Inc. (NYSE:NEE)

Number of Hedge Fund Holders: 73

NextEra Energy, Inc. (NYSE:NEE) is a leader in the renewable energy space, with a portfolio of over 23,900 net megawatts of generating capacity across the U.S. and Canada. This positions the company well to benefit from the continued shift towards clean energy sources and ranks it on our selection of the best environmental stocks to buy now. On October 28, the company posted market-beating earnings for the third quarter of fiscal 2022. NextEra Energy, Inc. (NYSE:NEE) reported an EPS of $0.85 and beat estimates by $0.05. The company generated a revenue of $6.72 billion, up 53.75% year over year and ahead of Wall Street estimates by $946.36 million.

This September, BMO Capital analyst James Thalacker raised his price target on NextEra Energy, Inc. (NYSE:NEE) to $100 from $92 and reiterated an Outperform rating on the shares. On October 24, Guggenheim analyst Shahriar Pourreza updated his price target on NextEra Energy, Inc. (NYSE:NEE) to $99 from $108 and maintained a Buy rating on the shares.

At the close of the third quarter of 2022, 79 hedge funds were long NextEra Energy, Inc. (NYSE:NEE) and held collective stakes of $2.11 billion in the company. Of those, Fisher Asset Management was the top shareholder in the company and disclosed a position worth $741.9 million.

Here is what ClearBridge Investments had to say about NextEra Energy, Inc. (NYSE:NEE) in its third-quarter 2022 investor letter:

“NextEra Energy, Inc. (NYSE:NEE) is an integrated utility business with a regulated utility operating in Florida and the largest wind business in the U.S. NextEra’s regulated business includes Florida Power & Light, which serves nine million people in Florida. NextEra’s share price rose along with the passage of the U.S. Inflation Reduction Act, which considerably expands support for renewable energy.”

1. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 74

General Motors Company (NYSE:GM) has a strong lineup of vehicles, with solid sales over the past several years. The company has invested heavily in research and development to stay ahead of the competition and has been successful in introducing new technologies to the market. General Motors Company (NYSE:GM) is also well-positioned to benefit from the growth in the electric vehicle market as it has invested heavily in its electric vehicle program and has introduced some of the most popular EV models in the market including the Chevrolet Bolt EV, GMC Hummer EV, and Cadillac LYRIQ, which have been well-received by consumers. General Motors Company (NYSE:GM) plans on leading the EV market in the coming years and is placed high on our list of the best environmental stocks to buy now due to the company’s successful track record, market-leading position, and robust business model.

 Wall Street is bullish on General Motors Company (NYSE:GM). This October, JPMorgan analyst Ryan Brinkman raised his price target on General Motors Company (NYSE:GM) to $59 from $58 and maintained an Overweight rating on the shares. On October 26, Deutsche Bank analyst Emmanuel Rosner updated his price target on General Motors Company (NYSE:GM) to $35 from $36 and maintained a Hold rating on the shares.

At the end of Q3 2022, 74 hedge funds held stakes in General Motors Company (NYSE:GM). The total value of these stakes amounted to $3.32 billion. As of September 30, Berkshire Hathaway is the dominant investor in the company and has a position worth $1.60 billion.

Here is what Diamond Hill Capital had to say about General Motors Company (NYSE:GM) in its third-quarter 2022 investor letter:

“Most recently, we initiated a position in General Motors Company (NYSE:GM), one of the largest automakers in the United States. Over the past several years, GM has taken steps necessary to focus the company on the most profitable segments and move into position to compete in an electrified and autonomous world. With the recent rise in interest rates there was a meaningful selloff in the auto industry, which presented us an attractive entry point to a name we know well.”

You can also take a look at 15 Good Stocks To Invest In and 9 Best European Bank Stocks To Invest In.

Suggested articles:

• 12 Best Blockchain Stocks To Buy
• 11 Best Coffee Stocks To Buy
• 11 Best Commodity Stocks To Buy Now

Disclosure: None. 14 Best Environmental Stocks to Buy Now is originally published on Insider Monkey.