In this article we discuss the 5 best EV stocks to invest in. If you want to read our detailed analysis of the electric vehicle industry, go directly to 12 Best EV Stocks to Invest In.
5. Magna International Inc. (NYSE: MGA)
Number of Hedge Fund Holders: 34
Magna International Inc. (NYSE: MGA) is a designer and manufacturer of systems, subsystems, and modules for original equipment manufacturers of vehicles across the globe. The company was founded in 1957 and is based in Canada. It ranks 5th on our list of the best EV stocks to invest in.
On June 17th, Magna International Inc. (NYSE: MGA) and Fisker Inc. (NYSE: FSR) entered into a binding manufacturing agreement. Both companies are promising that the electric Fisker Ocean SUV will begin to be produced by November 17th, 2022, at Magna International Inc.’s (NYSE: MGA) facility in Austria. The company’s first quarter of 2021 reports revealed EPS of $1.86 versus estimates of $1.57. It also reported first-quarter revenue of $10.18 billion. It has a gross profit margin of 14.24% and has gained 39.61% in the past 6 months and 27.66% year to date.
By the end of the first quarter of 2021, 34 hedge funds out of the 866 tracked by Insider Monkey held stakes in this company. The total value of their stakes was about $671 million. Comparatively, in the previous quarter 38 hedge funds held stakes in the company worth roughly $662 million.
4. Ford Motor Company (NYSE: F)
Number of Hedge Fund Holders: 49
On June 17th, Ford Motor Company (NYSE: F) announced that it would be acquiring Electriphi, a California-based charging management, and fleet monitoring software provider. The company said the decision came about in light of their desire to merge Electriphi’s team with Ford Pro to develop advanced charging and energy management experiences for EV users. Ford Motor Company (NYSE: F) also provided second-quarter guidance on the same day, saying that it expected adjusted earnings before interest and taxes to exceed prior expectations and be higher than the values they saw a year ago.
In the first quarter of 2021, Ford Motor Company (NYSE: F) had an adjusted EPS of $0.89 versus estimates of $0.21, and revenue valued at $36.23 billion. The company also has a gross profit margin of 8.07% and a forward PE ratio of 12.8. Ford Motor Company (NYSE: F) gained 62.6% in the past 6 months and 70.42% year to date.
By the end of the first quarter of 2021, 49 hedge funds out of the 866 tracked by Insider Monkey held stakes in this company. The total value of their stakes was about $2.19 billion. Comparatively, in the previous quarter 41 hedge funds held stakes in the company worth roughly $1.65 billion.
3. Aptiv PLC (NYSE: APTV)
Number of Hedge Fund Holders: 50
Aptiv PLC (NYSE: APTV) is a manufacturer of vehicle components that operates across the world. The company provides electrical and technology solutions for the automotive and commercial vehicle markets and has become a renowned player in the EV industry as well. It ranks 3rd on our list of the best EV stocks to invest in.
For the first quarter of 2021, Aptiv PLC (NYSE: APTV) had EPS of $1.06 versus estimates of $0.78. The company also reported $4.02 billion in revenue for that quarter and has a gross profit margin of 16.47%. The stock has gained 19.42% in the past 6 months and 13.71% year to date.
By the end of the first quarter of 2021, 50 hedge funds out of the 866 tracked by Insider Monkey held stakes in this company. The total value of their stakes was about $1.42 billion. Comparatively, in the previous quarter 44 hedge funds held stakes in the company worth roughly $1.35 billion.
Oakmark Funds, an investment management firm, mentioned Aptiv PLC (NYSE: APTV) in its first-quarter 2021 investor letter. Here is what they said:
“Aptiv approached our estimates of intrinsic value and was, therefore, eliminated during the period. The company was longstanding investment of the Fund and produced successful outcomes. We continue to believe that Aptiv is a well-positioned auto supplier that is likely to continue outgrowing light vehicle production for the foreseeable future, but this dynamic is now more fully appreciated by the market.”
2. Tesla, Inc. (NASDAQ: TSLA)
Number of Hedge Fund Holders: 62
Tesla, Inc. (NASDAQ: TSLA) is a developer of EVs and energy generation and storage systems in the US and internationally. It has two segments, Automotive and Energy Generation and Storage, and it ranks 2nd on our list of the best EV stocks to invest in.
By the end of the first quarter of 2021, 62 hedge funds out of the 866 tracked by Insider Monkey held stakes in this company. The total value of their stakes was about $10 billion. Comparatively, in the previous quarter 68 hedge funds held stakes in the company worth roughly $12.3 billion.
1. General Motors Company (NYSE: GM)
Number of Hedge Fund Holders: 86
General Motors Company (NYSE: GM) is a manufacturer of vehicles operating globally and is now also involved in the EV industry. Some of the company’s major brands include Buick, Cadillac, and Chevrolet. It ranks 1st on our list of the best EV stocks to invest in.
On June 16th, it was reported that General Motors Company (NYSE: GM) will be increasing its EV and autonomous vehicle investments to $35 billion by 2025. The move came in light of the company’s profitability for this year so far having exceeded expectations, and because General Motors Company (NYSE: GM) wants to be a leader in the transformation of the industry. For the first quarter of 2021, General Motors Company (NYSE: GM) had an EPS of $2.25 versus estimates of $1.05. The company’s revenue for the quarter was valued at $32.47 billion and it has a forward PE ratio of 9.77. It has also gained 42.59% in the past 6 months and 45.05% year to date.
By the end of the first quarter of 2021, 86 hedge funds out of the 866 tracked by Insider Monkey held stakes in this company. The total value of their stakes was about $8.05 billion. Comparatively, in the previous quarter 70 hedge funds held stakes in the company worth roughly $6.33 billion.
You can also take a peek at 15 Biggest Renewable Energy Companies and Stocks and 12 Best Autonomous Vehicle Stocks to Buy for 2021.
