5 Best Alternative Energy Stocks to Buy Now

3. General Electric Company (NYSE: GE) 

Number of Hedge Fund Holders: 68
Forward P/E Ratio: 55.22

General Electric Company (NYSE: GE) is a high-tech industrial company worldwide, and it’s ranked 3rd on our list of the best alternative energy stocks to buy now. The company’s renewable energy sector provides customers with energy generated from onshore and offshore wind, hydroelectric, storage, solar, and grid solutions, among others.

UBS recently reiterated a “Buy” rating for the General Electric Company (NYSE: GE) stock, alongside its $17 price target. General Electric Company (NYSE: GE) reported revenue of $17.12 billion in the first quarter of 2021 and its $0.03 EPS for the quarter beat estimates by $0.02, compared to last quarter’s miss by $0.01 with $0.08 EPS. The stock also gained 26.41% in the past 6 months and 30.75% year to date.

As of the end of the first quarter, 68 hedge funds held stakes in General Electric Company (NYSE: GE) worth $6.16 billion.

Vulcan Value Partners, in its Q1 2021 investor letter, mentioned General Electric Company (NYSE: GE). Here is what Vulcan Value Partners has to say about General Electric Company in its letter:

“General Electric is outperforming our expectations for 2021 as the economic recovery is occurring faster than expected. We are particularly pleased with its free cash flow generation. We are happy to own it in our portfolio.”