In this article, we will look at 5 stocks that will benefit from record-breaking temperatures. If you want to find similar stocks, you can read 10 Stocks That Will Benefit from Record Breaking Temperatures.
5. Whirlpool Corporation (NYSE:WHR)
Number of Hedge Fund Holders: 33
Whirlpool Corporation (NYSE:WHR) manufactures and markets home appliances and related products which include refrigerators, freezers, ice makers, and HVAC systems. The company has operations in North America, Europe, the Middle East, Africa, Latin America, and Asia. On July 15, JPMorgan analyst Michael Rehaut lowered his price target on Whirlpool Corporation (NYSE:WHR) to $191 from $227 and reiterated a buy-side Overweight rating on the shares.
On July 25, Whirlpool Corporation (NYSE:WHR) released earnings for the fiscal second quarter of 2022. The company generated a revenue of $5.10 billion for the quarter and reported earnings per share of $5.97, ahead of Wall Street consensus by $0.68.
As of March 31, Greenhaven Associates owns over 2.83 million shares of Whirlpool Corporation (NYSE:WHR) and is the largest shareholder in the company. The fund’s stakes were valued at $489.59 million.
At the end of the first quarter of 2022, 33 hedge funds were eager on Whirlpool Corporation (NYSE:WHR) and held stakes worth $962.67 million in the company. This is compared to 28 positions in the previous quarter with stakes of $1.18 billion.
4. Trane Technologies plc (NYSE:TT)
Number of Hedge Fund Holders: 38
Trane Technologies plc (NYSE:TT) provides services and solutions for heating, ventilation, air conditioning, and transport refrigeration. The company offers air conditioners, exchangers, and handlers, coils & condensers, home automation products, humidifiers ice energy storage solutions among other products. On July 15, Jefferies analyst Stephen Volkmann lowered his price target on Trane Technologies plc (NYSE:TT) to $140 from $160 and reiterated a Hold rating on the shares.
On June 3, Trane Technologies plc (NYSE:TT) declared a quarterly cash dividend of $0.67 per share. The dividend is payable on September 30 to shareholders of record at the close of business on September 2. As of July 27, Trane Technologies plc (NYSE:TT) has a forward dividend yield of 1.93% and trailing twelve-month free cash flows of $886.10 million.
At the end of Q1 2022, 38 hedge funds were bullish on Trane Technologies plc (NYSE:TT). The total stakes of these hedge funds amounted to $1.79 billion. This is compared to 27 hedge funds in Q4 2021 with stakes worth $1.26 billion.
In the first quarter of 2022, Generation Investment Management raised its stakes in Trane Technologies plc (NYSE:TT) by 153%, bringing them to $566.48 million. As of March 31, Generation Investment Management owns over 3.7 million shares of Trane Technologies plc (NYSE:TT) and is the largest shareholder in the company.
ClearBridge Investments, an investment management firm, mentioned Trane Technologies plc (NYSE:TT) in its “Sustainability Leaders Strategy” first-quarter 2022 investor letter. Here is what the firm had to say:
“Trane Technologies (NYSE:TT), another energy efficiency play in the industrials sector that should benefit from trends highlighted in the REPowerEU energy security plan, was a top detractor for the quarter, mainly due to continued supply chain headwinds raising costs. We think there is a strong secular tailwind for the cost and emissions savings Trane provides: the company makes products that help reduce energy consumption and emissions for residential and commercial HVAC and transport refrigeration, the minimization of food waste and other perishable goods and the increased productivity for Trane’s customers. Trane estimates ~15%-25% of all greenhouse gas emissions in the world are emitted through HVAC systems and buildings.”
3. Carrier Global Corporation (NYSE:CARR)
Number of Hedge Fund Holders: 42
Carrier Global Corporation (NYSE:CARR) provides heating, ventilation, and air conditioning systems, refrigeration, fire, security, and building automation technologies worldwide. The company operates through three business segments: HVAC, Refrigeration, and Fire & Security. On July 15, Jefferies analyst Stephen Volkmann trimmed his price target on Carrier Global Corporation (NYSE:CARR) to $47 from $55 and reiterated a Buy rating on the shares.
On June 9, Carrier Global Corporation (NYSE:CARR) announced that its board of directors have declared a quarterly cash dividend of $0.15 per share of the company’s common stock. The dividend is payable on August 10 to shareholders of record on June 23. As of July 27, Carrier Global Corporation (NYSE:CARR) has a forward dividend yield of 1.58% and free cash flows of $1.50 billion.
In the first quarter of 2022, Renaissance Technologies raised its stakes in Carrier Global Corporation (NYSE:CARR) by 126%. As of March 31, the fund owns more than 5.3 million shares of the company which amounts to a stake of $243.42 million. Renaissance Technologies is the largest shareholder in Carrier Global Corporation (NYSE:CARR).
At the end of the first quarter of 2022, 42 hedge funds were long Carrier Global Corporation (NYSE:CARR) and held stakes worth $1.14 billion in the company. This is compared to 45 positions in the previous quarter with stakes worth $1.24 billion.
2. Johnson Controls International plc (NYSE:JCI)
Number of Hedge Fund Holders: 44
Johnson Controls International plc (NYSE:JCI) produces fire, HVAC, and security equipment for buildings and provides solutions and services for the HVAC industry in the United States, Europe, the Asia Pacific, and internationally. The company operates in four segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products.
On July 18, Mizuho analyst Brett Linzey lowered his price target on Johnson Controls International plc (NYSE:JCI) to $65 from $68 and reiterated a Buy rating on the shares.
On June 8, Johnson Controls International plc (NYSE:JCI) declared a quarterly cash dividend of $0.35 per share. The common stock cash dividend was payable on July 15 to investors of record on June 21. As of July 28, Johnson Controls International plc (NYSE:JCI) has a forward dividend yield of 2.77% and trailing twelve-month free cash flows of $1.06 billion.
At the end of Q1 2022, 44 hedge funds were eager on Johnson Controls International plc (NYSE:JCI). The total stakes of these hedge funds were valued at $1.43 billion, up from $1.22 billion in the previous quarter with 42 positions. The hedge fund sentiment for the stock is positive.
Saturna Capital, an investment management firm, mentioned Johnson Controls International plc (NYSE:JCI) in its “Amana Funds” fourth-quarter 2021 investor letter. Here is what the firm had to say:
“Given market strength, every sector provided positive returns during the quarter, led by Technology. Hardware and semiconductors were the primary contributors, although software performed better in terms of stock selection. Industrials, Consumer Staples, and Consumer Discretionary were standouts in terms of stock selection and outperformance versus the benchmark. Johnson Controls and railways led in Industrials.”
1. Emerson Electric Co. (NYSE:EMR)
Number of Hedge Fund Holders: 45
Emerson Electric Co. (NYSE:EMR) operates as a technology and engineering company and provides various solutions for customers in industrial, commercial, and residential markets in the Americas, Asia, the Middle East, Africa, and Europe. The company offers a range of smart products and solutions for the HVAC industry which include heating controls, thermostats, and air conditioning controls, among others.
On July 13, Deutsche Bank analyst Nicole DeBlase lowered her price target on Emerson Electric Co. (NYSE:EMR) to $97 from $110 and reiterated a Buy rating on the shares.
As of March 31, Millennium Management owns more than 2.1 million shares of Emerson Electric Co. (NYSE:EMR) and is the largest shareholder in the company. The fund’s stakes are valued at $207.50 million.
At the end of Q1 2022, 45 hedge funds held stakes in Emerson Electric Co. (NYSE:EMR) worth $1.47 billion. This is compared to 43 positions in the previous quarter with stakes worth $1.47 billion.
You can also take a look at 10 Best Climate Change Stocks to Buy Now and 20 Best Countries To Live Considering Climate Change.
