These 5 Magnificent Stocks Keep Driving Higher
A mini-correction in the markets often causes a pause for reflection. So, I thought I'd take a whistle-stop look at five companies that have all outperformed the S&P 500 index in 2023 and over the previous year, not least because they all have the potential to carry on doing so. Here's why.
The electrical connection and protection company is something of a hidden gem. Run by an all-female CEO/CFO team, nVent's (NYSE: NVT) products are an indispensable part of the electrification of everything trend in the economy. Investments in electric vehicles and charging networks, smart buildings and infrastructure, data centers, renewable energy, 5G, and industrial automation all imply an increase in electrical installations, and that means an expanded market for nVent's electrical solutions.
The company has a super record of beating expectations and raising guidance. Investors have enjoyed a 174% return over the last three years as the company's end markets have expanded while management has taken full advantage. Trading on just over 16 times next year's estimated earnings, nVent remains a good value.
Source Fool.com
