5 Best EV Materials Stocks to Buy

3. Aptiv PLC (NYSE: APTV)

Number of Hedge Fund Holders: 50  

Aptiv PLC (NYSE: APTV) is ranked third on our list of 10 best EV materials stocks to buy. The firm makes and sells different vehicle components. It is headquartered in Ireland. The firm has a market cap of over $44 billion and posted more than $13 billion in revenue last year. Some of the products that the firm markets to the electrical vehicle industry include connectors, wiring assemblies, electrical centers, and safety distribution systems, among others. The firm beat market expectations on revenue in the second quarter earnings posted on August 5. 

On August 6, investment advisory Barclays maintained an Overweight rating on Aptiv PLC (NYSE: APTV) stock and raised the price target to $174 from $164, highlighting that the firm was posting strong organic growth and healthy order intake. 

Out of the hedge funds being tracked by Insider Monkey, London-based investment firm Impax Asset Management is a leading shareholder in Aptiv PLC (NYSE: APTV) with 2.9 million shares worth more than $402 million. 

In its Q1 2021 investor letter, Oakmark Funds, an asset management firm, highlighted a few stocks and Aptiv PLC (NYSE: APTV) was one of them. Here is what the fund said:

“Aptiv approached our estimates of intrinsic value and was, therefore, eliminated during the period. The company was longstanding investment of the Fund and produced successful outcomes. We continue to believe that Aptiv is a well-positioned auto supplier that is likely to continue outgrowing light vehicle production for the foreseeable future, but this dynamic is now more fully appreciated by the market.”