In this article, we discuss the 5 best infrastructure stocks according to Reddit. If you want to read our detailed analysis of these stocks, go directly to 10 Best Infrastructure Stocks According to Reddit.
5. Colfax Corporation (NYSE: CFX)
Number of Hedge Fund Holders: 31
Colfax Corporation (NYSE: CFX) is ranked fifth on our list of 10 best infrastructure stocks according to Reddit. The company has interests in a wide array of businesses related to medical consumable products and equipment. It is headquartered in Delaware.
On August 16, investment advisory Argus reiterated a Buy rating on Colfax Corporation (NYSE: CFX) stock and raised the price target to $56 from $50, underlining that the firm was a “well-managed mid-cap company”.
Out of the hedge funds being tracked by Insider Monkey, Ohio-based investment firm Diamond Hill Capital is a leading shareholder in Colfax Corporation (NYSE: CFX) with 4.5 million shares worth more than $206 million.
In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Colfax Corporation (NYSE: CFX) was one of them. Here is what the fund said:
“Colfax Corporation is a global manufacturing company providing orthopedic and fabrication technology products and services. Its orthopedic products are focused primarily on injury prevention and recovery, including athletic braces, hot and cold therapy, bone growth stimulators and therapeutic shoes. The fabrication technology division is a leader in welding and cutting solutions such as filler metals, equipment, automation/digital solutions and gas equipment. Management recently reconstructed Colfax’s portfolio of businesses—acquired the orthopedic/medical technology business in 2019, divested its air and handling equipment and fluid handling businesses in 2019 and 2017, respectively. We believe the remaining portfolio will benefit from a near-term rebound in elective medical procedures and welding as the broader economy reopens. We also believe additional med tech acquisitions, margin improvements and market share gains in the fabrication technology division are additional long-term profit cycle drivers. With shares trading at an attractive valuation, we initiated a GardenSM position.”
4. AECOM (NYSE: ACM)
Number of Hedge Fund Holders: 32
AECOM (NYSE: ACM) is a California-based firm that provides professional services to the construction industry. It is placed fourth on our list of 10 best infrastructure stocks according to Reddit.
On May 12, investment advisory Credit Suisse maintained a Neutral rating on AECOM (NYSE: ACM) stock and raised the price target to $67 from $59, appreciating the strong earnings results posted by the company for the second quarter.
At the end of the second quarter of 2021, 32 hedge funds in the database of Insider Monkey held stakes worth $791 million in AECOM (NYSE: ACM), down from 38 the preceding quarter worth $1 billion.
3. Quanta Services, Inc. (NYSE: PWR)
Number of Hedge Fund Holders: 40
Quanta Services, Inc. (NYSE: PWR) is a Texas-based company that markets specialty contracting services. It is ranked third on our list of 10 best infrastructure stocks according to Reddit.
On September 8, investment advisory Credit Suisse maintained an Outperform rating on Quanta Services, Inc. (NYSE: PWR) stock and raised the price target to $137 from $118. Jamie Cook, an analyst at the advisory, issued the ratings update.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Peconic Partners LLC is a leading shareholder in Quanta Services, Inc. (NYSE: PWR) with 5.6 million shares worth more than $513 million.
2. Cleveland-Cliffs Inc. (NYSE: CLF)
Number of Hedge Fund Holders: 44
Cleveland-Cliffs Inc. (NYSE: CLF) is placed second on our list of 10 best infrastructure stocks according to Reddit. The company makes and sells steel products and is headquartered in Ohio.
On August 11, investment advisory Morgan Stanley initiated coverage of Cleveland-Cliffs Inc. (NYSE: CLF) stock with an Equal Weight rating and a price target of $26, underlining that the stock had outperformed peers and the constructive outlook seemed well priced.
At the end of the second quarter of 2021, 44 hedge funds in the database of Insider Monkey held stakes worth $1.1 billion in Cleveland-Cliffs Inc. (NYSE: CLF), up from 36 in the preceding quarter worth $968 million.
1. Carrier Global Corporation (NYSE: CARR)
Number of Hedge Fund Holders: 46
Carrier Global Corporation (NYSE: CARR) is ranked first on our list of 10 best infrastructure stocks according to Reddit. The company provides heating, ventilating, refrigeration, fire, security, and building automation services. It operates from Florida.
On August 13, investment advisory Citi reinstated coverage of Carrier Global Corporation (NYSE: CARR) stock with a Neutral rating and a price target of $58, noting the “strong” second quarter results and improved guidance numbers posted by the company earlier.
Out of the hedge funds being tracked by Insider Monkey, Wyoming-based firm Southport Management is a leading shareholder in Carrier Global Corporation (NYSE: CARR) with 25,000 shares worth more than $1.2 million.
In its Q4 2020 investor letter, Davis Funds, an asset management firm, highlighted a few stocks and Carrier Global Corporation (NYSE: CARR) was one of them. Here is what the fund said:
“Resilient cyclicals such as Carrier Global have since rebounded, while at first negatively impacted by the recession, as U.S. GDP fell by 9% year-over-year in the second quarter of 2020, and some even have benefited from certain aspects of the pandemic world. Carrier, the leader in heating and ventilation systems, for example, has seen demand for home and workplace air filters rise.”
You can also take a peek at 10 Best Stocks to Buy According to Billionaire Ken Fisher and 10 Best Stocks to Buy for the Next Ten Years.
