雅虎香港財經 16 Large-Cap Stocks with Insider Buying
In this article, we will discuss the 16 large-cap stocks with insider buying. If you want to explore similar stocks, you can also take a look at 5 Large-Cap Stocks With Insider Buying.
Insider buying is a popular way to assess the potential of a company and can be a good indicator to gauge a stock's performance. When insiders, such as corporate officers, directors and large shareholders, buy shares of their own company, it is often seen as a sign of confidence in the future of the company. It is important to note that insider buying does not guarantee future success, but it can be a helpful indicator when researching potential investments.
When looking for companies with insider buying activity, investors should focus on the size and frequency of the purchases. Insiders are required to disclose any stock purchases in regulatory filings, so investors can easily track this activity. It is important to note, however, that some insiders may be buying stock for a variety of reasons and not necessarily because they believe the stock will increase in value.
Investors should also consider other factors such as the company’s fundamentals, financial health and industry trends when making investment decisions. While insider buying can be an important indicator of a company’s potential, it should not be the sole factor used when making an investment decision. Investors should also consider the company’s overall strategy and position in the market.
2022 has shaken investors' confidence and proven to be a difficult year for equities. As of December 14, the S&P 500 has lost over 15% year to date, the Nasdaq is down 28.5% for the year, and the Dow has shed 6% since the beginning of 2022. In the midst of strong inflation, high interest rates, supply disruptions, and inventory gluts, investors are left puzzled about where to park cash. In times like these, it may be useful to look at where the masses are pouring into, what stocks are on smart money's radars, and also what corporate executives have faith in their business. We have come up with a list of the 16 large-cap stocks that insiders have purchased over the past 30 days. These include CME Group Inc. (NASDAQ:CME), Intel Corporation (NASDAQ:INTC), and Datadog, Inc. (NASDAQ:DDOG), and many others, all of which are discussed in detail below.
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Our Methodology
To determine the 16 large-cap stocks with insider buying, we used our screener and went through insider purchases over the past 30 days. We filtered out large-cap stocks and narrowed down our selection to stocks with positive market sentiment, solid business fundamentals, and robust pipelines. Along with each stock, we have mentioned the hedge fund sentiment, latest insider purchase details, and analyst ratings. These stocks are ranked according to their popularity among elite hedge funds, from least to most.
Large-Cap Stocks with Insider Buying
16. Rocket Companies, Inc. (NYSE:RKT)
Market Cap as of December 14: $16.37 Billion
Number of Hedge Fund Holders: 15
Rocket Companies, Inc. (NYSE:RKT) is a financial services company providing mortgage, refinancing, and other financial services to consumers and businesses in the United States and Canada. The company was founded in 1985 and is based in Detroit, Michigan. This October, Barclays analyst Mark DeVries revised his price target on Rocket Companies, Inc. (NYSE:RKT) to $5 from $7 and reiterated an Equal Weight rating on the shares.
In December, Rocket Companies, Inc. (NYSE:RKT) disclosed in a regulatory filing that CEO Jay Farner purchased 47,200 common shares of the company's stock at $8.46 per share. The transaction was valued at $0.39 million. Rocket Companies, Inc. (NYSE:RKT) is one of the large-cap stocks with insider buying and is worth $16.37 billion on the open market, as of December 14.
At the close of Q3 2022, 15 hedge funds were long Rocket Companies, Inc. (NYSE:RKT) and disclosed stakes worth $40.9 million in the company. Of those, Renaissance Technologies was the top investor in the company and held a position worth $15.25 million.
Like CME Group Inc. (NASDAQ:CME), Intel Corporation (NASDAQ:INTC), and Datadog, Inc. (NASDAQ:DDOG), Rocket Companies, Inc. (NYSE:RKT) is a large-cap that insiders are piling into right now.
15. Cincinnati Financial Corporation (NASDAQ:CINF)
Market Cap as of December 14: $17.09 Billion
Number of Hedge Fund Holders: 18
Cincinnati Financial Corporation (NASDAQ:CINF) is a financial services holding company that specializes in property casualty insurance, life insurance, annuities, and investments, and provides services to customers in the United States. At the end of Q3 2022, 18 hedge funds were bullish on Cincinnati Financial Corporation (NASDAQ:CINF) and held stakes worth $73.6 million in the company. As of September 30, Citadel Investment Group is the top stockholder in the company and has stakes worth $19.49 million.
Recently, a director at Cincinnati Financial Corporation (NASDAQ:CINF), Dirk J. Debbink, purchased 1000 common shares of Cincinnati Financial Corporation (NASDAQ:CINF) at $106.13 per share. The transaction was valued at over $106,000.
On December 5, MKM Partners analyst Harry Fong raised his price target on Cincinnati Financial Corporation (NASDAQ:CINF) to $130 from $120 and maintained a Buy rating on the shares.
14. Texas Pacific Land Trust (NYSE:TPL)
Market Cap as of December 14: $20.17 Billion
Number of Hedge Fund Holders: 20
Texas Pacific Land Trust (NYSE:TPL) is one of the oldest REITs in the United States, founded in 1888. Insiders have been piling into the company. Recently, the company disclosed that director Murray Stahl acquired 20 shares of the company's common stock at $2,583.02 per share for a total transaction amount of over $51,000.
As of December 14, Texas Pacific Land Trust (NYSE:TPL) has gained 100.84% year to date and is worth $20.17 billion on the open market.
At the end of the third quarter of 2022, 20 hedge funds disclosed stakes in Texas Pacific Land Trust (NYSE:TPL). The total value of these stakes amounted to $2.72 billion, up from $2.34 billion in the previous quarter with 22 positions. As of September 30, Beddow Capital Management is the most prominent investor in Texas Pacific Land Trust (NYSE:TPL) and has a position worth $20.9 million.
Here is what LRT Capital Management had to say about Texas Pacific Land Corporation (NYSE:TPL) in its October investor letter:
“Long time readers will know that we rarely invest in commodity businesses. However, there are periods in the market where commodity-based businesses outperform the broad indexes by a wide margin. Therefore, to have balance in the portfolio, we have long searched for a competitively advantaged company in the commodity space. We believe that Texas Pacific Land Corporation(NYSE:TPL), meets that criterion. Formed out of assets of formerly bankrupt railroads, TPL controls the largest acreage of land in the Permian basin – the center of the US shale oil industry. The company has two main sources of income: 1) royalties from oil & gas extracted on its properties – essentially a free call option on future oil prices and production; and 2) a water business which develops water resources and sells services to the fracking industry. We see TPL as an effective way to diversify the portfolio into a commodity exposed business that has a history of smart capital allocation and low risk of financial distress during periods of low oil prices. The company has no debt, and $281 million in cash. The company uses most of its cash flows to pay dividends and repurchase shares.”
13. AMERCO (NASDAQ:UHAL)
Market Cap as of December 14: $13.06 Billion
Number of Hedge Fund Holders: 22
AMERCO (NASDAQ:UHAL) is a leading trucking company that operates as a do-it-yourself moving and storage operator for household and commercial goods in the United States and Canada. On December 8, the company declared a quarterly cash dividend of $0.04 per common share, payable on December 30 to stockholders of record on December 19. As of December 14, the stock is trading at a PE multiple of 12x and has gained 41.67% over the past six months.
On December 9, AMERCO (NASDAQ:UHAL) disclosed that Willow Grove Holdings Lp, which owns 10% of the company, acquired 248,300 shares at $64.97 per share for a total transaction amount of $16.13 million.
At the close of Q3 2022, 22 hedge funds were long AMERCO (NASDAQ:UHAL) and disclosed positions worth $745.3 million in the company. Of those, Yacktman Asset Management was the largest investor in the company and held a position worth $373.79 million.
12. V.F. Corporation (NYSE:VFC)
Market Cap as of December 14: $10.89 Billion
Number of Hedge Fund Holders:
V.F. Corporation (NYSE:VFC) is a global leader in the apparel and footwear industries with a portfolio of iconic brands including The North Face, Vans, Timberland, Dickies, and Kipling. At the end of Q3 2022, 26 hedge funds held stakes in V.F. Corporation (NYSE:VFC) worth $279.70 million. Of those, Diamond Hill Capital was the most prominent investor in V.F. Corporation (NYSE:VFC) and disclosed a position worth $206.15 million.
On December 5, Deutsche Bank analyst Gabriella Carbone revised her price target on V.F. Corporation (NYSE:VFC) to $36 from $43 and maintained a Buy rating on the shares.
Recently, director Mark S. Hoplamazian acquired 9000 shares of V.F. Corporation (NYSE:VFC) at $28.32 per share. The transaction was valued at over $254,000.
Here is what Diamond Hill Capital had to say about V.F. Corporation (NYSE:VFC) in its third-quarter 2022 investor letter:
“Our weakest performer in Q3 was apparel and footwear company V.F. Corporation (NYSE:VFC). Consumer spending concerns weighed on the market’s sentiment toward companies selling more discretionary goods. Additionally, management lowered guidance primarily due to weaker sales for its Vans brand, higher-than-expected industry discounting, and macroeconomic uncertainty. The remainder of the portfolio is performing well, as evidenced by solid refreshed long-term financial targets.”
11. Illinois Tool Works Inc. (NYSE:ITW)
Market Cap as of December 14: $69.81 Billion
Number of Hedge Fund Holders: 27
Illinois Tool Works Inc. (NYSE:ITW) is a leading global manufacturer and distributor of industrial products and equipment. Earlier in December, director David Smith Jr. purchased 1,390 shares of Illinois Tool Works Inc. (NYSE:ITW) at $221.81 per share. The transaction was valued at roughly $0.30 million. The stock is one of the large caps that insiders are piling into.
This December, Citi analyst Andrew Kaplowitz raised his price target on Illinois Tool Works Inc. (NYSE:ITW) to $232 from $202 and maintained a Neutral rating on the shares.
At the end of Q3 2022, 27 hedge funds were long Illinois Tool Works Inc. (NYSE:ITW) and disclosed positions worth $629.4 million in the company. This is compared to 34 positions in the preceding quarter with stakes worth $366.1 million. As of September 30, Ken Fisher's Fisher Asset Management is the most notable shareholder in the company and has a position worth $383 million.
10. Ball Corporation (NYSE:BALL)
Market Cap as of December 14: $17.26 Billion
Number of Hedge Fund Holders: 30
Ball Corporation (NYSE:BALL) is an American manufacturer of packaging products, primarily for food and beverage, and also develops products for the aerospace segment. On November 8, Barclays analyst Michael Leithead raised his price target on Ball Corporation (NYSE:BALL) to $55 from $50 and reiterated an Equal Weight rating on the shares. As of December 14, the company is worth $17.26 billion on the open market.
Insiders are pouring money into Ball Corporation (NYSE:BALL). On December 7 it was reported that director William Daniel Fisher acquired 6,400 shares of Ball Corporation (NYSE:BALL) at $54.42 per share. The transaction was valued at $0.34 million. The stock is one of the large-cap stocks that insiders are buying.
At the end of Q3 2022, 30 hedge funds were bullish on Ball Corporation (NYSE:BALL) and held stakes worth $455.9 million in the company. Of those, Chilton Investment Company was the top investor in the company and held a position worth $168.25 million.
Here is what Aristotle Atlantic Partners, LLC had to say about Ball Corporation (NYSE:BALL) in its third-quarter 2022 investor letter:
“We sold Ball Corporation (NYSE:BALL) following a very disappointing second quarter earnings and outlook that has caused us to reevaluate the long-term growth potential of the North American beverage can market. The competitive environment appears to have increased more quickly than management has anticipated. We believe it is prudent to sell the entire position, as Ball is forced to reevaluate its growth strategy and shift its capital deployments. Market conditions in North America could spread to other global markets over the next couple of years.”
9. Charles River Laboratories International, Inc. (NYSE:CRL)
Market Cap as of December 14: $10.69 Billion
Number of Hedge Fund Holders: 33
Charles River Laboratories International, Inc. (NYSE:CRL) provides drug discovery, non-clinical development, and safety testing services globally. As of December 14, the company is worth $10.69 billion on the open market.
On December 1, BofA analyst Derik de Bruin reiterated a Buy rating and his $260 price target on shares of Charles River Laboratories International, Inc. (NYSE:CRL).
Earlier in December, it was disclosed that Richard F Wallman, director at Charles River Laboratories International, Inc. (NYSE:CRL), purchased 1,500 common shares of the company at $218.90 per share. The transaction was valued at $0.328 million. Charles River Laboratories International, Inc. (NYSE:CRL) is among the large caps that insiders are buying.
At the end of the third quarter of 2022, 33 hedge funds disclosed positions in Charles River Laboratories International, Inc. (NYSE:CRL). The total value of these stakes amounted to $1.05 billion, up from $861.18 million in the previous quarter with 45 positions. As of September 30, Viking Global is the most prominent shareholder in the company and has a position worth $129.58 million.
Here is what Polen Capital had to say about Charles River Laboratories International, Inc. (NYSE:CRL) in its second-quarter 2022 investor letter:
“Charles River Laboratories International, Inc. (NYSE:CRL) provides essential products and services to the biopharmaceutical industry, government agencies and leading academic institutions to improve and accelerate drug development and manufacturing. Charles River is a contract research organization (CRO) focused on non-clinical drug development. The company has been in business for over 70 years providing the research models for pre-clinical trials and early drug development. Over time, they expanded on core competencies to move into attractive adjacencies such as drug discovery, safety assessment, laboratory practices, and biologic-related manufacturing services. The company is uniquely positioned to benefit from secular growth in the pharmaceutical and biotechnology industry with a strong business model and leadership that meets our flywheel investment criteria. We believe the current market turmoil gives us an opportunity to own a great business with a long-term track record for consistent compounding at an attractive price.”
8. Energy Transfer L.P. (NYSE:ET)
Market Cap as of December 14: $36.41 Billion
Number of Hedge Fund Holders: 33
Last month, Energy Transfer L.P. (NYSE:ET) disclosed that executive chairman Kelcy Warren purchased 1.3 million common shares of the company at $12.39 each. The transaction was valued at $16.10 million. As of December 14, Energy Transfer L.P. (NYSE:ET) is worth $36.41 billion on the open market and has gained 35.65% year to date. The stock is one of the large caps that insiders are piling into.
This December, Citi analyst Spiro Dounis took coverage of Energy Transfer L.P. (NYSE:ET) with a Buy rating and a $16 price target.
At the end of Q3 2022, 33 hedge funds were bullish on Energy Transfer L.P. (NYSE:ET) and disclosed positions worth $614.6 million in the company. This is compared to 36 hedge funds in the previous quarter with stakes worth $598.5 million. As of September 30, Abrams Capital Management is the top investor in the company and has a stake worth $242.8 million.
Stocks that are rising in popularity among elite money managers and are attracting hefty investments from corporate executives include Energy Transfer L.P. (NYSE:ET), CME Group Inc. (NASDAQ: CME), Intel Corporation (NASDAQ:INTC), and Datadog, Inc. (NASDAQ:DDOG).
7. Public Storage (NYSE:PSA)
Market Cap as of December 14: $53.79 Billion
Number of Hedge Fund Holders: 34
Public Storage (NYSE:PSA) is a real estate investment trust (REIT) and a leader in the self-storage industry. The company owns and operates more than 2,500 self-storage facilities. At the close of the third quarter of 2022, 34 hedge funds were bullish on Public Storage (NYSE:PSA) and held stakes worth $833.6 million in the company. This is compared to 33 positions in the previous quarter with stakes worth $753.5 million. As of September 30, AQR Capital Management is the top investor in the company and has disclosed a position worth $167.96 million.
On September 19, Evercore ISI analyst Steve Sakwa updated his price target on Public Storage (NYSE:PSA) to $327 from $333 and maintained an In Line rating on the shares.
Recently, Joseph Russell Jr, president and CEO of Public Storage (NYSE:PSA), acquired 2,500 common shares of the company at $297.65 each. The transaction was valued at $0.74 million. As of December 14, the company is valued at $53.79 billion and is one of the large-cap stocks that insiders are buying.
Here is what Baron Funds had to say about Public Storage (NYSE:PSA) in its third-quarter 2022 investor letter:
“Public Storage (NYSE:PSA) is the world’s largest owner, operator, and developer of self-storage facilities. Public Storage has achieved the #1 market position in 14 of its top 15 markets and is widely recognized as the leading self-storage company with the premier brand. It is currently valued at a 5.6% capitalization rate or a 25% discount to its estimated net asset value.”
6. Fastenal Company (NASDAQ:FAST)
Market Cap as of December 14: $28.84 Billion
Number of Hedge Fund Holders: 37
Fastenal Company (NASDAQ:FAST) is one of the leading industrial and construction product distributors in the World. As of December 14, the company is worth $28.84 billion on the open market and is offering a dividend yield of 2.50%.
On October 17, Jefferies analyst Stephen Volkmann took coverage of Fastenal Company (NASDAQ:FAST) with a Hold rating and a $50 price target.
On December 1, Fastenal Company (NASDAQ:FAST) disclosed that executive Vice President, Michael Jeffery Watts, purchased 5,940 common shares of the company at $50.58 each. The transaction was valued at $0.30 million. The stock is placed sixth on our list of the large-cap stocks with insider buying.
At the end of the third quarter of 2022, 37 hedge funds were long Fastenal Company (NASDAQ:FAST) and held positions worth $899.6 million in the company. This is compared to 33 positions in the previous quarter with stakes worth $893.45 million. As of September 30, Cantillon Capital Management is the largest investor in the company and has disclosed a stake worth $249 million.
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Disclosure: None. 16 Large-Cap Stocks With Insider Buying is originally published on Insider Monkey.
