5 Best Environmental Stocks to Buy Now

1. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 74

General Motors Company (NYSE:GM) has a strong lineup of vehicles, with solid sales over the past several years. The company has invested heavily in research and development to stay ahead of the competition and has been successful in introducing new technologies to the market. General Motors Company (NYSE:GM) is also well-positioned to benefit from the growth in the electric vehicle market as it has invested heavily in its electric vehicle program and has introduced some of the most popular EV models in the market including the Chevrolet Bolt EV, GMC Hummer EV, and Cadillac LYRIQ, which have been well-received by consumers. General Motors Company (NYSE:GM) plans on leading the EV market in the coming years and is placed high on our list of the best environmental stocks to buy now due to the company’s successful track record, market-leading position, and robust business model.

 Wall Street is bullish on General Motors Company (NYSE:GM). This October, JPMorgan analyst Ryan Brinkman raised his price target on General Motors Company (NYSE:GM) to $59 from $58 and maintained an Overweight rating on the shares. On October 26, Deutsche Bank analyst Emmanuel Rosner updated his price target on General Motors Company (NYSE:GM) to $35 from $36 and maintained a Hold rating on the shares.

At the end of Q3 2022, 74 hedge funds held stakes in General Motors Company (NYSE:GM). The total value of these stakes amounted to $3.32 billion. As of September 30, Berkshire Hathaway is the dominant investor in the company and has a position worth $1.60 billion.

Here is what Diamond Hill Capital had to say about General Motors Company (NYSE:GM) in its third-quarter 2022 investor letter:

“Most recently, we initiated a position in General Motors Company (NYSE:GM), one of the largest automakers in the United States. Over the past several years, GM has taken steps necessary to focus the company on the most profitable segments and move into position to compete in an electrified and autonomous world. With the recent rise in interest rates there was a meaningful selloff in the auto industry, which presented us an attractive entry point to a name we know well.”

You can also take a look at 15 Good Stocks To Invest In and 9 Best European Bank Stocks To Invest In.