5 Best Fertilizer Stocks to Buy According to Hedge Funds

1. Deere & Company (NYSE:DE)

Number of Hedge Fund Holders: 63

Deere & Company (NYSE:DE) is an agricultural and farm machinery provider. It also offers planting technology that offers precise fertilizing capabilities to reduce fertilizer use on farms.

Michael Shlisky, an analyst at DA Davidson, holds a Buy rating on Deere & Company (NYSE:DE) shares as of April 14.

In the fiscal first quarter of 2023, Deere & Company (NYSE:DE) generated about $13 billion in revenues. Its net sales increased by 34% year-over-year to go above $11 billion, while its net income also more than doubled, coming in at almost $2 billion.

In total, 63 hedge funds were long Deere & Company (NYSE:DE) in the fourth quarter. Their total stake value was $3.7 billion.

ClearBridge Investments, an investment management company, mentioned Deere & Company (NYSE:DE) in its fourth-quarter 2022 investor letter. Here’s what the firm said:

“Our industrials holdings produced robust absolute returns for the quarter. While the ISM Manufacturing Index fell in November to contractionary levels, our industrial holdings have largely been able to maintain earnings due to strong competitive positions, historically large backlogs and company-specific drivers. For example, Deere & Company (NYSE:DE) continues to benefit from a strong upgrade cycle as record farmers’ income is driving broad and rapid adoption of the company’s precision agricultural equipment.”

See also Agriculture Stocks List: 25 Biggest Companies and 12 Most Advanced Countries in Agriculture Technology.