In this article, we will discuss the 5 stocks to buy according to Ian Simm’s Impax Management. If you want to read our detailed analysis of Simm’s history, investment philosophy, and hedge fund performance, go directly to the 10 Stocks to Buy According to Ian Simm’s Impax Management.
5. Pentair plc (NYSE:PNR)
Impax Management Stake Value: $658,873,000
Percentage of Impax Management’s 13F Portfolio: 2.7%
Number of Hedge Fund Holders: 24
Pentair plc (NYSE:PNR) is a water treatment corporation in the United States that is incorporated in Ireland and has tax residence in the United Kingdom. Impax Management holds 9.09 million shares in Pentair plc (NYSE:PNR) worth $658.87 million, representing 2.7% of their portfolio. The hedge fund has decreased its stake in the firm by 6% in the third quarter of 2021.
On November 22, Loop Capital analyst Scott Graham initiated coverage of Pentair plc (NYSE:PNR) with a “Buy” rating and gave a price target of $105. In October, Pentair plc (NYSE:PNR) reported earnings for the third quarter, posting earnings per share of $0.89, beating market estimates by $0.05. The revenue over the period was $969.2 million, exceeding the analysts’ expectations by $28.44 million.
4. IDEX Corporation (NYSE:IEX)
Impax Management Stake Value: $669,555,000
Percentage of Impax Management’s 13F Portfolio: 2.74%
Number of Hedge Fund Holders: 18
IDEX Corporation (NYSE:IEX) is a publicly listed corporation situated in Northbrook, Illinois, that develops, designs, and manufactures fluidics systems and specialized manufactured products. In November, IDEX Corporation (NYSE:IEX) announced a quarterly dividend of $0.54 per share, in line with the previous.
On November 22, Loop Capital analyst Scott Graham initiated coverage of IDEX Corporation (NYSE:IEX) with a “Hold” rating and gave a price target of $234. In the third quarter financial results, IDEX Corporation (NYSE:IEX) beat market predictions on earnings per share by $0.04. Revenue for the quarter was $712.09 million, up 22.5% year over year and $14.65 million ahead of market expectations.
IDEX Corporation (NYSE:IEX) was in 18 hedge funds’ portfolios in the third quarter of 2021. There were 22 hedge funds in our database with IEX holdings in the previous quarter. Impax Asset Management, managed by Ian Simm, is the company’s largest stakeholder, with a $669.56 million holding.
3. Ecolab Inc. (NYSE:ECL)
Impax Management Stake Value: $708,604,000
Percentage of Impax Management’s 13F Portfolio: 2.91%
Number of Hedge Fund Holders: 39
Ecolab Inc. (NYSE:ECL) provides products and services connected to water, hygiene, and energy. In October, Ecolab Inc. (NYSE:ECL) agreed to purchase Purolite, a global provider of high-end ion exchange resins for solution separation and purification.
After Ecolab Inc.’s (NYSE:ECL) Q3 earnings beat, BMO Capital analyst John McNulty boosted his price target to $246 from $223 in October but kept a “Market Perform” rating on the stock. Ecolab Inc.’s (NYSE:ECL) third-quarter EPS was $1.38, beating consensus EPS of $0.08. The revenue was $3.32 billion, beating consensus estimates of $60 million.
Bill & Melinda Gates Foundation Trust has the highest investment in Ecolab Inc. (NYSE:ECL), valued close to $910.924 million and accounting for 3.92% of its overall 13F portfolio, according to Insider Monkey. Impax Asset Management is the second most bullish fund manager, with a $708.60 million stake and 2.91% of its 13F portfolio invested in the company.
2. Linde plc (NYSE:LIN)
Impax Management Stake Value: $862,602,000
Percentage of Impax Management’s 13F Portfolio: 3.54%
Number of Hedge Fund Holders: 46
Shares of industrial gases producer and trader Linde plc (NYSE:LIN) rallied 2.16% over the past twelve months. In October, Linde plc (NYSE:LIN) declared a quarterly dividend of $1.06 per share, in line with the previous.
In November, UBS analyst Andrew Stott raised his price target on Linde plc (NYSE:LIN) to EUR 350 from EUR 325 and maintained a “Buy” rating on the shares. In October, Linde plc (NYSE:LIN) reported earnings for the third quarter, posting earnings per share of $2.73, beating market estimates by $0.07. The revenue over the period was $7.7 billion, exceeding the analysts’ expectations by $170 million.
As of Q3 2021, 46 hedge funds tracked by Insider Monkey have positions in Linde plc (NYSE:LIN) worth $4.77 billion, down from 55 hedge funds in the previous quarter worth $5.92 billion.
1. American Water Works Company, Inc. (NYSE:AWK)
Impax Management Stake Value: $941,416,000
Percentage of Impax Management’s 13F Portfolio: 3.86%
Number of Hedge Fund Holders: 28
American Water Works Company, Inc. (NYSE:AWK) and its subsidiaries provide water and wastewater services in the United States. In October, American Water Works Company, Inc. (NYSE:AWK) agreed to sell its Homeowner Services Group to Apax Partners for $1.275 billion.
In November, Goldman Sachs analyst Insoo Kim lowered American Water Works Company, Inc. (NYSE:AWK) from “Buy” to “Neutral” with a $177 price target, down from $191. According to Kim, American Water Works Company, Inc. (NYSE:AWK) sees management’s revised five-year growth plan falls short of expectations.
Among the hedge funds being tracked by Insider Monkey, Impax Asset Management held the most valuable stake in American Water Works Company, Inc. (NYSE:AWK), worth $941.42 million in the third quarter of 2021.
You can also take a peek at 12 Best 5G Stocks To Invest In Right Now and 10 Best Stocks to Invest In According to Philip Timon’s Owls Nest Partners
