Electrical equipment stocks have been a great way to invest in the industrial sector and the broader economy. The industry is fragmented but has more significant upside than other subsectors because of its high growth potential and strong tailwinds. On top of that, it’ll benefit from accelerating global infrastructure spending over the coming years as governments and corporations spend billions on electrical transmission, distribution, and generation projects worldwide. That means there are plenty of opportunities for investors interested in this space. But with so many different businesses operating within the sector, you may be unsure which stocks might be best for your portfolio. Look at the four best electrical equipment stocks to buy right now.
Plug Power is one of the most prominent hydrogen fuel cell industry players. The company’s fuel cells are used in applications such as forklifts, grid energy storage, and heavy-duty transportation. The company also provides aftermarket services, leases, and fueling stations for forklifts and other fuel cell-powered equipment.
PLUG has been proliferating for the past few years thanks to the increased adoption of fuel cell technology. The company’s customers include Walmart, Kroger, Sysco, and Amazon.
Fuel cell adoption has grown thanks to new government policies and the availability of more affordable lithium-ion batteries. Plug Power has also invested heavily in research and development to develop more efficient technology.
Generac is a leading power generation, electrical distribution, and home automation equipment, manufacturer. The company’s products span a wide variety of industries and applications. Generac’s customers include utilities, government agencies, industrial facilities, and other end-users. Generac’s use of lean manufacturing techniques, strategic acquisitions, and focus on new technologies like battery-powered backup generators and demand response have allowed the company to stay competitive in a rapidly changing marketplace.
Ametek is one of the world’s largest electrical equipment manufacturers in power plants, oil and gas processing, mining, and water treatment plants. The company also provides various industry precision instruments, sensors, and controls. Ametek’s customers include utilities, petrochemical companies, mining companies, and other industrial facilities.
The company has a history of growing through acquisitions and strategic investments in new technologies. In addition, Ametek has also focused on growing its services business to diversify its revenue streams. The company’s efforts appear to be paying off, as revenue and earnings have risen consistently over the past few years.
Hubbell is an electrical equipment manufacturer serving a global industrial and commercial electrical product market. The company’s products include circuit breakers, junction boxes, motors and starters, and electric vehicle chargers used in various industries. Hubbell has grown its business by investing in research, development, acquisitions, and strategic partnerships.
Hubbell’s stock has been on a tear since 2016. The company has been growing revenue and earnings at a healthy rate thanks to increased demand for renewable energy and electrical grid modernization projects. Hubbell has also been strategic in its acquisitions and partnerships, including purchasing a controlling interest in Canadian Solar.
Electrical equipment stocks have been a great way to invest in the industrial sector and the broader economy. The industry is fragmented but has more significant upside than other subsectors because of its high growth potential and strong tailwinds. On top of that, it’ll benefit from accelerating global infrastructure spending over the coming years as governments and corporations spend billions on electrical transmission, distribution, and generation projects worldwide. That means there are plenty of opportunities for investors interested in this space. But with so many different businesses operating within the sector, you may be unsure which stocks might be best for your portfolio. We hope this article has helped you better understand the landscape and identify some stocks worth further research.
Roberto holds a Master's Degree in Communication and proudly wears his 15 years of direct and managerial experience in intensive Digital Marketing and Financial Analytics. He was the founder of Good Noon, a Digital Marketing Agency awarded by Expertise among the top 10 best marketing agencies in San Francisco in 2020.
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