In this article, we discuss the 5 top stock picks of Mario Gabelli. If you want to skip our detailed analysis of these stocks, go directly to Mario Gabelli Stock Portfolio: 10 Top Stock Picks.
5. Sony Group Corporation (NYSE:SONY)
Number of Hedge Fund Holders: 31
Sony Group Corporation (NYSE:SONY) makes and sells consumer electronics. GAMCO Investors, as of the end of September 2023, owned over 1.5 million shares of the company worth $124 million, representing 1.44% of the portfolio.
On October 16, investment advisory Benchmark initiated coverage of Sony Group Corporation (NYSE:SONY) stock with a Buy rating and a price target of 14,500 yen, noting the firm excelled in the electronics and entertainment businesses.
At the end of the second quarter of 2023, 31 hedge funds in the database of Insider Monkey held stakes worth $581 million in Sony Group Corporation (NYSE:SONY), compared to 30 in the previous quarter worth $488 million.
4. Textron Inc. (NYSE:TXT)
Number of Hedge Fund Holders: 28
Textron Inc. (NYSE:TXT) operates as an aerospace and defense firm. GAMCO Investors, as of the end of September 2023, owned over 1.6 million shares of the company worth $131 million, representing 1.52% of the portfolio.
On October 31, investment advisory Barclays maintained an Overweight rating on Textron Inc. (NYSE:TXT) stock and raised the price target to $90 from $85.
At the end of the second quarter of 2023, 28 hedge funds in the database of Insider Monkey held stakes worth $494 million in Textron Inc. (NYSE:TXT), up from 25 in the previous quarter worth $443 million.
3. Mueller Industries, Inc. (NYSE:MLI)
Number of Hedge Fund Holders: 24
Mueller Industries, Inc. (NYSE:MLI) markets copper, brass, aluminum, and plastic products. In the filings for the third quarter of 2023, the fund detailed that it owned 3.9 million shares of the company worth $149 million, representing 1.73% of the portfolio.
In late October, Mueller Industries, Inc. (NYSE:MLI) posted earnings for the third quarter of 2023, reporting earnings per share of $1.17. The revenue over the period was $819 million, down more than 13% compared to the revenue over the same period last year.
At the end of the second quarter of 2023, 24 hedge funds in the database of Insider Monkey held stakes worth $397 million in Mueller Industries, Inc. (NYSE:MLI), compared to 21 the preceding quarter worth $338 million.
2. GATX Corporation (NYSE:GATX)
Number of Hedge Fund Holders: 14
GATX Corporation (NYSE:GATX) is a railcar leasing firm. According to latest 13F data, as of the end of September 2023, the fund holds a stake in the firm worth more than $158 million, consisting of over 1.4 million shares.
On October 25, investment advisory TD Cowen maintained a Market Perform rating on GATX Corporation (NYSE:GATX) stock and lowered the price target to $122 from $137, noting that revenue growth next year would be offset by lower gains on asset sales and higher interest expense.
At the end of the second quarter of 2023, 14 hedge funds in the database of Insider Monkey held stakes worth $231 million in GATX Corporation (NYSE:GATX), compared to 12 in the previous quarter worth $204 million.
1. Herc Holdings Inc. (NYSE:HRI)
Number of Hedge Fund Holders: 32
Herc Holdings Inc. (NYSE:HRI) operates as an equipment rental supplier. The hedge fund of Mario Gabelli entered the fourth quarter of 2023 with more than 1.6 million shares of the company in the portfolio worth more than $196 million.
On October 25, Wells Fargo analyst Seth Weber maintained an Overweight rating on Herc Holdings Inc. (NYSE:HRI) stock and lowered the price target to $150 from $165, noting the earnings of the firm in the third quarter were consistent with expectations.
At the end of the second quarter of 2023, 32 hedge funds in the database of Insider Monkey held stakes worth $598 million in Herc Holdings Inc. (NYSE:HRI), compared to 26 in the previous quarter worth $490 million.
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