Michael McCaul, the U.S. representative for Texas’s 10th congressional district since 2005, has been earning huge profits in his latest trades (buy and sell). As per his latest regulatory disclosure, the Republican politician has bought shares in two energy companies: Shell PLC (NYSE:SHEL) (GB:SHEL) and SolarEdge Technologies (NASDAQ:SEDG). Let’s take a closer look at how the stocks have performed since McCaul bought them.
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Shell PLC (NYSE:SHEL) (GB:SHEL)
Shell PLC, a British oil and gas major, is one of the largest energy companies in the world. The persistently high energy prices have boosted SHEL stock by 31.2% so far this year.
On October 21, McCaul bought SHEL stock under his spouse’s name, in the size range of 50,000 to 100,000. The stock has gained over 6.6% since the day of trade. Additionally, SHEL pays a regular quarterly common dividend of $0.50 per share, reflecting an impressive dividend yield of 3.32%.
Is SHEL Stock a Buy?
With three Buys and one Hold rating, SHEL stock has a Strong Buy consensus rating. On TipRanks, the average Shell PLC price forecast of $68.25 implies 20.8% upside potential to current levels.
SolarEdge Technologies (NASDAQ:SEDG)
Israel-based SolarEdge Technologies develops and sells solar inverters for photovoltaic arrays, energy generation monitoring software, and battery energy storage products to residential, commercial, and industrial customers.
On October 11 and 31, McCaul bought two sets of SEDG stocks under his wife’s name, both in the range of 15,000 to 50,000. Fortunately for McCaul, SEDG stock has shot up over 45% since his October 11 buy and up 25.4% since October 31.
Is SolarEdge a Good Stock to Buy?
On TipRanks, SolarEdge Technologies stock has a Moderate Buy consensus rating. This is based on nine Buys and five Hold ratings. also, the average SolarEdge Technologies price target of $325.46 implies 10.2% upside potential to current levels. Year to date, SEDG stock has gained 4.6%.
Ending Thoughts
Congressman McCaul has been widely followed for his stock trades, as the politician is known for his knack of invariably pulling a profit on them. Investors may choose to follow his stock picks to make informed investment decisions.
