Interested in the high growth prospects of the clean energy industry? For a closer look at the industry's stocks, we ran a screen.
We began by compiling a list of companies that either use or produce clean sources of energy, and then we screened that universe for high-growth stocks, with 5-year projected EPS growth rates above 15%.
We then screened these names for those with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these names to outperform.
Interactive Chart: Press Play to compare changes in market cap over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.
Do you think hedge funds are calling it right on these names? Use this list as a starting point for your own analysis.
List sorted by net institutional purchases over the last quarter as a percent of share float.
1. Westport Innovations Inc. (NASDAQ:WPRT): Provides alternative fuel, low-emissions technologies that enable engines to operate on fuels, such as compressed natural gas, liquefied natural gas, hydrogen, and biofuels. Market cap at $1.33B, most recent closing price at $26.48. 5-year projected EPS growth at 30.00%. Net institutional purchases in the current quarter at 3.7M shares, which represents about 9.96% of the company's float of 37.16M shares.
2. Tesla Motors, Inc. (NASDAQ:TSLA): Designs, develops, manufactures, and sells electric vehicles and advanced electric vehicle powertrain components. Market cap at $3.41B, most recent closing price at $31.77. 5-year projected EPS growth at 25.00%. Net institutional purchases in the current quarter at 6.5M shares, which represents about 9.46% of the company's float of 68.70M shares.
3. Shaw Group Inc. (NYSE:SHAW): Provides technology, engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation, and facilities management services to multinational and national oil companies, industrial corporations, regulated utilities, independent and merchant power producers, and government agencies worldwide. Market cap at $1.91B, most recent closing price at $28.29. 5-year projected EPS growth at 16.67%. Net institutional purchases in the current quarter at 4.4M shares, which represents about 6.85% of the company's float of 64.25M shares.
*Institutional data sourced from Fidelity, all other data sourced from Finviz.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.