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Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for next week's trading.
Flowserve (FLS - Get Report) , Pentair (PNR - Get Report) and Xylem (XYL - Get Report) : The water stocks have been making a splash of late, and Cramer highlighted three more water-related stocks to see which ones are worth owning as the need for more and cleaner water systems grows.
Flowserve is one of the leaders in this space, making valves, seals and offering other water-related services. Shares of Flowserve are down though over the past three years, mostly because the company only derives 4% of its revenue from water utilities and gets the rest from industrial and energy-related categories. Shares trade at 17 times earnings, which was too hefty given its oil and gas exposure.
Pentair is another leader in the fluid handling, desalination and purification space, with shares that are essential flat over the past three years. Cramer said an ill-fated acquisition in 2012 is to blame, but now that the company has an activist investor pushing to spin off those assets, shares could be ready to run. Pentair stock trades at 13 times earnings, a level Cramer called "cheap."
Finally, there's Xylem , a water technology company with shares up 62% over the past three years. Cramer said this company is the most levered to lucrative water utilities and has the least exposure to the industrial sector, with no energy exposure at all. Shares trade at 20 times earnings, but Cramer said he's still a buyer, especially on any weakness.
Nike (NKE - Get Report) , General Mills (GIS - Get Report) and Constellation Brands (STZ - Get Report) : Stocks can go higher for all sorts of reasons, Cramer told viewers. In the case of Nike, investors were fretting over excess inventory. When that inventory cleared up, the stock shot higher.
General Mills rallied this quarter for different reasons. This slow-growing food company suddenly delivered double-digit growth thanks to new natural ingredients for many of its cereals.
Then there's Constellation Brands, a company Cramer featured on Thursday's Mad Money. Constellation got lucky when Anheuser-Busch InBev (BUD) was forced to sell some of its brands. But Constellation took that luck and ran with it, growing the brand beers and using the profits to buy Ballast Point, then growing that brand as well.
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