5 Best Climate Change Stocks To Buy According To Hedge Funds

2. General Electric Company (NYSE:GE)

Number of Hedge Fund Holders: 67    

General Electric Company (NYSE:GE) has invested heavily in clean and green initiatives in recent years, pouring over $15 billion into wind, solar, and hydro projects. The company claims it has installed 400 gigawatts of renewable energy globally. This includes 40,000 wind turbines and 25% of the hydropower installations worldwide. It is ranked second on our list of 11 best climate change stocks to buy according to hedge funds. It recently signed an MoU with General Motors for supply of rare-earth minerals that are used in renewable energy generation. 

Wells Fargo analyst Joseph O’Dea initiated coverage of the stock on October 7 with an Equal Weight rating and a price target of $107. General Electric Company (NYSE:GE) was also recently named among a list of top picks for the fourth quarter by Bank of America. 

At the end of the second quarter of 2021, 67 hedge funds in the database of Insider Monkey held stakes worth $6.08 billion in General Electric Company (NYSE:GE), down from 68 in the previous quarter worth $6.16 billion.

In its Q1 2021 investor letter, Vulcan Value Partners, an asset management firm, highlighted a few stocks and General Electric Company (NYSE:GE) was one of them. Here is what the fund said:

“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.”