In this article, we discuss the 5 best infrastructure stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 11 Best Infrastructure Stocks to Buy Now.
5. Johnson Controls International plc (NYSE:JCI)
Number of Hedge Fund Holders: 43
Johnson Control International plc (NYSE:JCI) engages in engineering, manufacturing, commissioning, and retrofitting building products and systems. On October 10, Wells Fargo analyst Joseph O’Dea maintained an Overweight rating on Johnson Control International plc (NYSE:JCI) stock and lowered the price target to $62 from $67, noting that guidance will remain raised and revenue beats would be the primary driver of relative performance.
At the end of the third quarter of 2023, 43 hedge funds in the database of Insider Monkey held stakes worth $2.1 billion in Johnson Control International plc (NYSE:JCI), compared to 39 in the preceding quarter worth $2.5 billion.
4. Crown Castle Inc. (NYSE:CCI)
Number of Hedge Fund Holders: 45
Crown Castle Inc. (NYSE:CCI) owns, operates and leases more than 40,000 cell towers and approximately 80,000 route miles of fiber supporting small cells and fiber solutions across every major US market. On November 7, investment advisory Barclays maintained an Equal Weight rating on Crown Castle Inc. (NYSE:CCI) stock and lowered the price target to $111 from $116, noting that earnings for communication infrastructure coverage were largely in-line with expectations.
Among the hedge funds being tracked by Insider Monkey, Camas, Texas-based investment firm Fisher Asset Management is a leading shareholder in Crown Castle Inc. (NYSE:CCI) with 3.9 million shares worth more than $360 million.
In its Q2 2023 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and Crown Castle Inc. (NYSE:CCI) was one of them. Here is what the fund said:
“Crown Castle Inc. (NYSE:CCI) detracted from performance as telecom companies have temporarily slowed their deployment of additional cellular spectrum. This slowdown could impair future growth for cell tower companies.”
3. Caterpillar Inc. (NYSE:CAT)
Number of Hedge Fund Holders: 50
Caterpillar Inc. (NYSE:CAT) manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. On November 8, investment advisory Tigress Financial maintained a Buy rating on Caterpillar Inc. (NYSE:CAT) stock and raised the price target to $295 from $282, noting the firm was well positioned to benefit from global growth in the construction field.
At the end of the third quarter of 2023, 50 hedge funds in the database of Insider Monkey held stakes worth $4.8 billion in Caterpillar Inc. (NYSE:CAT), the same as in the previous quarter worth $2.5 billion.
In its Q3 2023 investor letter, Diamond Hill Capital, an asset management firm, highlighted a few stocks and Caterpillar Inc. (NYSE:CAT) was one of them. Here is what the fund said:
“Caterpillar Inc. (NYSE:CAT), the world’s leading manufacturer of construction and mining equipment, also performed well this quarter. Caterpillar has managed to leverage increased capital investment from various end markets, contributing to better than expected fiscal results for Q2. The company is poised to be one of the largest beneficiaries of several government funding initiatives, including the IRA (Inflation Reduction Act) bill, CHIPS Act and infrastructure bill. These measures are expected to support construction spending for several years, providing a robust backdrop for Caterpillar’s continued growth.”
2. Emerson Electric Co. (NYSE:EMR)
Number of Hedge Fund Holders: 53
Emerson Electric Co. (NYSE:EMR) provides various solutions for customers in industrial, commercial, and residential markets. On November 10, Stephens analyst Tommy Moll maintained an Overweight rating on Emerson Electric Co. (NYSE:EMR) stock and lowered the price target to $105 from $120, noting the recent selloff in the shares of the firm was overdone.
Among the hedge funds being tracked by Insider Monkey, Washington-based firm Citadel Investment Group is a leading shareholder in Emerson Electric Co. (NYSE:EMR) with 2 million shares worth more than $194 million.
1. Deere and Company (NYSE:DE)
Number of Hedge Fund Holders: 55
Deere and Company (NYSE:DE) manufactures and distributes various equipment worldwide. On November 22, investment advisory Goldman Sacha maintained a Buy rating on Deere and Company (NYSE:DE) stock with a price target of $466, noting the advisory was constructive on the prudent production cuts by the firm earlier than in the prior cycle.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Deere and Company (NYSE:DE) with 984,500 shares worth more than $371 million.
You can also take a peek at 10 Best Stocks in Each Sector and 10 Best Regional Bank Stocks To Invest In.
