Companies That Will Benefit From Climate Change: 5 Stocks to Watch

4. SolarEdge Technologies, Inc. (NASDAQ:SEDG)

Number of Hedge Fund Holders: 33 

SolarEdge Technologies, Inc. (NASDAQ:SEDG) markets semiconductor equipment for the solar industry. The stock has returned over 34% to investors over the past few months amid the successful passage of the Infrastructure Plan that has put aside billions to incentivize solar cell manufacturing in the US. 

Wells Fargo analyst Michael Blum recently initiated coverage of SolarEdge Technologies, Inc. (NASDAQ:SEDG) stock with an Overweight rating and a price target of $441, noting the firm would benefit from long-term tailwinds in the solar market. 

Among the hedge funds being tracked by Insider Monkey, London-based investment firm Impax Asset Management is a leading shareholder in SolarEdge Technologies, Inc. (NASDAQ:SEDG) with 750,069 shares worth more than $198 million. 

In its Q2 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and SolarEdge Technologies, Inc. (NASDAQ:SEDG) was one of them. Here is what the fund said:

“Our sustainability orientation has led us to favor renewable energy providers such as SolarEdge over traditional fossil fuel energy companies. Renewables stocks moved up very strongly over the last several quarters on optimism about huge green stimulus plans in Europe and the U.S. so we took profits and sold SolarEdge Technologies as valuations became demanding.”