In this article, we will be looking at the 5 best home appliance stocks to invest in. If you want to go through our detailed analysis of these stocks, you can go directly to the 11 Best Home Appliance Stocks to Invest in.
5. Modine Manufacturing Company (NYSE:MOD)
Number of Hedge Fund Holders: 28
Modine Manufacturing Company (NYSE:MOD) is an American firm headquartered in Racine, Wisconsin, specializing in the sale of heating products. Its diverse product portfolio includes furnaces, perimeter heating products, cabinet unit heaters, and fin tube radiators.
Based on Insider Monkey’s fourth-quarter database, 28 hedge funds demonstrated bullish sentiment towards Modine Manufacturing Company (NYSE:MOD), reflecting a slight decrease from 30 funds in the preceding quarter. Mario Gabelli’s GAMCO Investors emerged as the largest stakeholder of the company, holding 2.2 million shares valued at $132.49 million.
Carillon Chartwell Small Cap Value Fund made the following comment about Modine Manufacturing Company (NYSE:MOD) in its Q3 2023 investor letter:
“Modine Manufacturing Company (NYSE:MOD) was another strong performer. Modine’s performance technologies segment is experiencing high demand as it provides thermal solutions for electronic vehicle (EV) and hybrid vehicle manufacturers. The company also has focused on growth opportunities in the data-center market, selling data center cooling solutions needed for energy intensive artificial intelligence (AI) projects.”
4. Whirlpool Corporation (NYSE:WHR)
Number of Hedge Fund Holders: 30
Whirlpool Corporation (NYSE:WHR) is a leading manufacturer and distributor of home appliances and related products and services globally. Its product range includes refrigerators, freezers, ice makers, refrigerator water filters, and laundry appliances, catering to markets across North America, Europe, the Middle East, Africa, Latin America, and Asia.
On April 15, Whirlpool Corporation (NYSE:WHR) announced a quarterly dividend of $1.75 per share for its common stock. This dividend is scheduled to be paid on June 15, 2024, to shareholders of record as of the close of business on May 17, 2024.
According to data from Insider Monkey’s fourth-quarter database, investor sentiment towards Whirlpool Corporation (NYSE:WHR) improved, with 30 hedge funds showing bullish positions compared to 22 funds in the previous quarter. Lyrical Asset Management, led by Andrew Wellington and Jeff Keswin, held the largest stake in the company, with 1.03 million shares valued at $125.69 million.
3. Watsco, Inc. (NYSE:WSO)
Number of Hedge Fund Holders: 33
Watsco Inc (NYSE:WSO) specializes in selling a range of products including ducted and ductless residential air conditioners, replacement compressors, evaporator coils, furnaces, and related parts and supplies. Its consumer base spans the United States, Canada, Mexico, and Puerto Rico.
Recently, Watsco Inc (NYSE:WSO) declared a dividend of $2.7 per share, scheduled to be paid out on April 30, with the ex-dividend date set for April 12.
By the end of the fourth quarter of 2024, 33 hedge funds out of the 933 tracked by Insider Monkey held stakes in Watsco, Inc. (NYSE:WSO). The total value of their stakes was roughly $619.95 million.
2. Pentair plc (NYSE:PNR)
Number of Hedge Fund Holders: 35
Pentair plc (NYSE:PNR) is a provider of smart water solutions globally. Its Consumer Solutions segment focuses on manufacturing and distributing residential and commercial pool equipment, as well as water treatment products and systems. As of April 24, Pentair plc (NYSE:PNR) offers a quarterly dividend of $0.23 per share, resulting in a dividend yield of 1.16%. The company has consistently increased its dividends for the past 48 years.
In Insider Monkey’s database for December 2023, 35 hedge funds disclosed holdings in Pentair plc (NYSE:PNR), a slight decrease from the previous quarter’s 36 funds. These holdings collectively amount to over $1.8 billion in value. Notably, Impax Asset Management emerged as the top stakeholder in Q4, holding approximately 10 million shares.
1. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 293
Amazon.com, Inc. (NASDAQ:AMZN), a prominent American multinational technology company, has diversified its business interests over the years to include home appliances. These offerings include its own smart speaker called Alexa, a reading tablet called Kindle, and even a home robot called Astro.
In the December quarter of 2023, Insider Monkey’s research revealed that 293 out of the 933 hedge funds covered held a stake in the firm. Ken Fisher’s Fisher Asset Management emerged as the largest hedge fund investor in Amazon.com, Inc. (NASDAQ:AMZN), with a stake valued at $6.4 billion.
Disclosure: None. You can also take a look at the 10 Best Multibagger Stocks to Buy Now and Top 15 Cities Where Gen Z is Moving in the US.
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