5 High Dividend Stocks Picked By Billionaire Gabelli

In this article, we discuss 5 high-dividend stocks picked by billionaire Gabelli. If you want to read our detailed analysis of Gabelli’s investment strategy and his hedge fund’s performance over the years, go directly to read 11 High Dividend Stocks Picked By Billionaire Gabelli.

5. Southwest Gas Holdings, Inc. (NYSE:SWX)

Dividend Yield as of November 21: 3.71%
GAMCO Investors’ Stake Value: $48,949,000

Southwest Gas Holdings, Inc. (NYSE:SWX) is a Nevada-based natural gas holding company that provides services to over 2 million residential, commercial, and industrial customers. During Q3 2022, GAMCO Investors increased its position in the company by 3%, which takes its total SWX stake to roughly $49 million. The company represented 0.57% of billionaire Gabelli’s portfolio.

On November 17, Southwest Gas Holdings, Inc. (NYSE:SWX) announced a quarterly dividend of $0.62 per share, which fell in line with its previous dividend. The company has been paying regular dividends to shareholders since its IPO in 1956 and has raised its dividends consistently for the past 15 years. As of November 21, the stock has a dividend yield of 3.71%.

In November, Wells Fargo maintained an Equal Weight rating on Southwest Gas Holdings, Inc. (NYSE:SWX), highlighting the company’s performance in the current inflationary environment.

As of the close of the September quarter, 22 hedge funds in Insider Monkey’s database reported owning stakes in Southwest Gas Holdings, Inc. (NYSE:SWX), compared with 30 in the previous quarter. These stakes are collectively valued at over $734.8 million.

4. The PNC Financial Services Group, Inc. (NYSE:PNC)

Dividend Yield as of November 21: 3.72%
GAMCO Investors’ Stake Value: $27,626,000

The PNC Financial Services Group, Inc. (NYSE:PNC) is an American bank holding and financial services company that provides services related to loans and credit cards. In October, JPMorgan maintained an Overweight rating on the stock with a $171.5 price target, presenting a positive stance on large-cap bank stocks. The firm also appreciated the company’s strong fundamentals.

The PNC Financial Services Group, Inc. (NYSE:PNC) has been paying regular dividends to shareholders for the past 30 years and has also raised its payouts consecutively for 12 years. It currently offers a quarterly dividend of $1.50 per share and has a dividend yield of 3.72%, as of November 21.

GAMCO Investors has been investing in The PNC Financial Services Group, Inc. (NYSE:PNC) for over a decade now. At the end of Q3 2022, the hedge fund owned a PNC stake worth over $27.6 million. The company represented 0.32% of billionaire Gabelli’s portfolio.

At the end of Q3 2022, 43 hedge funds tracked by Insider Monkey owned stakes in The PNC Financial Services Group, Inc. (NYSE:PNC), up from 42 in the preceding quarter. The collective value of these stakes is over $615.7 million.

3. Hyster-Yale Materials Handling, Inc. (NYSE:HY)

Dividend Yield as of November 21: 4.15%
GAMCO Investors’ Stake Value: $22,867,000

Hyster-Yale Materials Handling, Inc. (NYSE:HY) is an Ohio-based company that designs and manufactures utility and standard life trucks and other specialized materials. On November 15, the company declared a quarterly dividend of $0.3225 per share, in line with its previous dividend. The company has been raising its dividends consistently for the past eight years. The stock’s dividend yield on November 21 came in at 4.15%.

In October, Sidoti upgraded Hyster-Yale Materials Handling, Inc. (NYSE:HY) to Buy with a $36 price target.

GAMCO Investors opened its position in Hyster-Yale Materials Handling, Inc. (NYSE:HY) during the third quarter of 2019, with shares worth $224,000. During Q3 2022, the hedge fund increased its position in the company by 6% and now owns stakes worth over $22.8 million. The company constituted 0.26% of billionaire Gabelli’s portfolio.

As of the close of Q3 2022, 8 hedge funds tracked by Insider Monkey owned investments in Hyster-Yale Materials Handling, Inc. (NYSE:HY), compared with 9 in the previous quarter. The collective value of these stakes is roughly $37.5 million.

Diamond Hill Capital mentioned Hyster-Yale Materials Handling, Inc. (NYSE:HY) in its Q4 2021 investor letter. Here is what the firm has to say:

“Lift truck manufacturer Hyster-Yale’s pandemic-related operational malaise has been exacerbated by supply chain disruptions. Additionally, the management’s turnaround strategy has experienced delays. With little visibility into when the company may move past these issues and how long it may take for a strategic turnaround to gain traction, we decided to exit the holding to upgrade capital into higher conviction names.”

2. Newmont Corporation (NYSE:NEM)

Dividend Yield as of November 21: 4.87%
GAMCO Investors’ Stake Value: $24,478,000

Newmont Corporation (NYSE:NEM) is a Colorado-based gold mining company. In November, Barclays maintained an Equal Weight rating on the stock with a $55 price target, following the company’s strong quarterly earnings.

On October 27, Newmont Corporation (NYSE:NEM) declared a quarterly dividend of $0.55 per share, which fell in line with its previous quarterly dividend. The company has raised its payouts consistently for the past two years. The stock’s dividend yield came in at 4.87%, as of November 21.

At the end of Q3 2022, GAMCO Investors owned 582,404 shares in Newmont Corporation (NYSE:NEM), worth over $24.4 million. The company reduced its stake in the company by 1% during the quarter. The company represented 0.28% of billionaire Gabelli’s portfolio.

At the end of Q3 2022, 53 hedge funds in Insider Monkey’s database owned stakes in Newmont Corporation (NYSE:NEM), compared with 56 in the previous quarter. These stakes have a collective value of over $1.03 billion.

First Eagle Investments mentioned Newmont Corporation (NYSE:NEM) in its Q2 2022 investor letter. Here is what the firm said:

“Shares of Colorado-based Newmont, the largest gold miner in the world, experienced weakness in the quarter as falling gold bullion prices and cost inflation hurt miners in general. More idiosyncratically, the company reported slightly disappointing earnings and production results for its most recent quarter due to pandemic-related disruptions, ongoing supply-chain constraints, and labor shortages.

It also warned that operating costs for 2022 were likely to come in at the upper end of previous guidance. We remain constructive on the stock, which offers steady production anchored in good jurisdictions, a good pipeline of organic projects, a strong balance sheet, and proven management.”

1. Telephone and Data Systems, Inc. (NYSE:TDS)

Dividend Yield as of November 21: 6.92%
GAMCO Investors’ Stake Value: $23,442,000

Telephone and Data Systems, Inc. (NYSE:TDS) is a Chicago-based telecommunications service company that mainly provides wireless services and products. The company has been raising its dividends consistently for the past 47 years, falling into the category of Dividend Aristocrats. In the past five years, it has raised its dividends at a CAGR of 3.22%. The company currently pays a quarterly dividend of $01.8 per share and has a dividend yield of 6.92%, as of November 21.

At the end of Q3 2022, GAMCO Investors owned over 1.6 million shares in Telephone and Data Systems, Inc. (NYSE:TDS), with a total value of over $23.4 million. The company accounted for 0.27% of billionaire Gabelli’s portfolio.

In November, JPMorgan upgraded Telephone and Data Systems, Inc. (NYSE:TDS) to Neutral with a $14 price target, post the company’s Q3 results.

Telephone and Data Systems, Inc. (NYSE:TDS) was a part of 13 hedge fund public portfolios at the end of Q3 2022, as per Insider Monkey’s data. The stakes owned by these hedge funds have a total value of roughly $46.3 million.

You can also take a look at Warren Buffett’s Top 10 Dividend Stock Picks and Bill Gates’ Top 10 Dividend Stocks

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