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PulteGroup - Government Trades

PulteGroup

PulteGroup Inc is a homebuilder in the United States. The company mainly builds single-family detached homes, and offers products to entry-level, move-up, and active-adult buyers. It also offers homebuyers mortgage financing, title, and insurance agency services through its financial services segment.

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Floor &amp; Decor Holdings, Inc. (NYSE: FND) focuses intently on expanding its market share by opening new warehouse-format stores, capitalizing on its everyday low prices and value-driven options, diversified and in-style product offerings, and valuing customers&#39; demand trends.


Floor &amp; Decor to Debut in Columbus With Warehouse Store

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Insufficient supply is the key problem in America&#39;s housing market, causing record high prices. Increasing supply is a solution with potential market implications.

US Needs 1.5 Million More Homes To Tame Record Prices

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With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages.

Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week

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Stocks surged as weak economic data raised hopes for Fed rate cut. S&amp;P 500 up 1.2%, Nasdaq 100 up 1.5%, Dow Jones up 0.6%. Spotify shares jump 17% on earnings.

Stocks Rally On Weaker PMI Data, Tech Earnings Optimism, Dollar Falls: What&#39;s Driving Markets Tuesday?

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PulteGroup (PHM) reported Q1 FY24 results, with revenue at $3.95B, beating expectations. Home sale revenue rose 10% and gross margin increased by 50bps. Net new orders increased 14% and EPS rose 32%.

Why Homebuilder PulteGroup Shares Are Higher Today

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The mood on Wall Street turned tentative on Tuesday as investors awaited earnings reports from the “Magnificent 7,” companies that fueled much of the market’s upside since 2023. Index futures rose slightly in early trading. Asian markets closed mostly higher, while European markets started on a firmer footing. Commodities pulled back, and bond yields held steady.

Wall Street Set To Open Higher As Tesla Kicks Off &#39;Magnificent 7&#39; Earnings: Why This Analyst Thinks Market Weakness Is A &#39;Healthy Pullback&#39;

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Corporate profit growth rose in Q3 2023 and is expected to continue in Q1.

Can Magnificent 7 Help Script Market Turnaround? Earnings Pick Up Pace With Microsoft, Meta, Alphabet And Tesla Expected This Week

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Warren Buffett&#39;s Bet On Lennar: Will The Homebuilding Giant&#39;s Earnings Report Validate The Investment?

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Rising mortgage rates in 2023 led to 28-year low in US home loan applications. Cash sales became popular as mortgage rates rose to 6.69%.

Mortgage Rates Soar, Cash Buyers Score: The New Homebuying Playbook

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PulteGroup reported a fourth-quarter fiscal 2023 total revenue decline of 15.5% year-over-year to $4.29 billion, missing the consensus of $4.48 billion.

PulteGroup Enjoys Q4 Growth With $1.5B Share Buyback Program, Despite Revenue Drop

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Floor &amp; Decor Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fnd#NYSE">FND</a>) focuses intently on expanding its market share by opening new warehouse-format stores, capitalizing on its everyday low prices and value-driven options, diversified and in-style product offerings, and valuing customers&#39; demand trends. 
Considering its expansion plans through new store openings, the company recently announced its debut in Columbus, GA, with a new warehouse store and design center. The new store will house about 50 full-time and part-time associates, led by the store&#39;s chief executive merchant.
<h3>Floor &amp; Decor on an Expansion Spree</h3>
Floor &amp; Decor indulges in profitable investments to process its expansion strategies, primarily through improvements in existing stores and new stores openings. By expanding its footprint and product portfolio, the company can reach out to new communities and accelerate its growth momentum. 
During the fiscal first quarter (ended Mar 28, 2024), the company opened four new warehouse stores. This brought the quarter-end count to 225 warehouse stores and five design studios. The openings included new warehouse format stores in Mansfield, TX; Summerville, FL; Glen Burnie, MD; and Augusta, GA. Furthermore, as of May 2024, FND had already opened four new warehouse stores, including Lone Tree, CO; Bremerton, WA; Brooklyn, NY; and Hendersonville, TN. 
Floor &amp; Decor aims to open between 30 and 35 new warehouse-format stores in fiscal 2024 across various large, medium and small market sizes. The long-term goal of the company is to operate 500 warehouse stores in the United States, and to achieve this target, it is strategically making investments to foster the expansion trend.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/2b/69385.jpg?v=534205386" /> 
Image Source: Zacks Investment Research
Owing to these tailwinds, shares of this retailer specializing in hard-surface flooring for homeowners and professionals have gained 2.7% in the year-to-date period against the Zacks Building Products - Wood industry&#39;s 8.1% decline.
<h3>Zacks Rank &amp; Key Picks</h3>
Floor &amp; Decor currently carries a Zacks Rank #3 (Hold). 
Here are some better-ranked stocks from the Construction sector. 
Owens Corning (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oc#NYSE">OC</a>)&nbsp;currently sports a Zacks Rank #1 (Strong Buy). 
OC delivered a trailing four-quarter earnings surprise of 17.4%, on average. The stock has risen 42.1% in the past year. The Zacks Consensus Estimate for OC&#39;s 2024 sales and earnings per share indicates growth of 16% and 7.4%, respectively, from the prior-year reported levels. 
PulteGroup, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/phm#NYSE">PHM</a>) currently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 12.5%, on average. PHM&#39;s shares have gained 46.7% in the past year. 
The consensus estimate for PHM&#39;s 2024 sales and EPS implies an increase of 7.9% and 10%, respectively, from the prior-year reported levels. 
Louisiana-Pacific Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lpx#NYSE">LPX</a>) presently sports a Zacks Rank of 1. LPX delivered a trailing four-quarter earnings surprise of 18.6%, on average. The stock has risen 25% in the past year. 
The Zacks Consensus Estimate for LPX&#39;s 2024 sales and EPS indicates growth of 17% and 79.8%, respectively, from the year-earlier levels.
<a href="https://www.zacks.com/stock/news/2292346/floor-decor-fnd-to-debut-in-columbus-with-warehouse-store?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2292346">To read this article on Zacks.com click here.</a>

Floor & Decor to Debut in Columbus With Warehouse Store

What is the key to bringing home sale volume up and home prices down? America&#8217;s current problem is insufficient supply, according to a new report outlining trends in the <a href="https://www.benzinga.com/topic/housing-market">U.S. housing market</a>.
The Data: Freddie Mac&#8217;s May macroeconomic <a href="https://www.freddiemac.com/research/forecast/20240516-economic-growth-moderated-start-year?utm_source=www.resiclubanalytics.com&amp;utm_medium=referral&amp;utm_campaign=u-s-housing-market-is-1-5-million-housing-units-below-a-balanced-market-finds-freddie-mac">report</a> examined key trends in the housing and mortgage market.
While 2024&#8217;s <a href="https://www.benzinga.com/top-stories/24/06/39391685/fed-members-cool-on-raising-interest-rates-these-conditions-could-take-months-and-more-likely-quarte">higher-for-longer interest rate</a> environment remains the most obvious obstacle to lowering home prices, the report emphasized supply as a means to restore the market to balance.
According to the report, vacancy rates—a very low 0.8% for housing and 6.6% for renters—must be restored in line with historical averages to make a dent in housing prices. In the first quarter of 2024, the total number of for-sale and for-rent units was 1.5 million below the balanced supply.
Why it Matters: Home prices have reached record levels in 2024. In June, the median sale price of a U.S. home hit an&nbsp;<a href="https://www.benzinga.com/real-estate/24/06/39337282/u-s-home-prices-hit-record-high-as-mortgage-rates-start-to-decline">all-time high</a>&nbsp;of $394,000. The median price for renting has <a href="https://www.benzinga.com/real-estate/23/06/32719718/despite-high-rental-rates-americans-are-putting-off-home-buying-in-record-numbers">also risen steadily</a> in recent months, albeit showing some signs of slowing. 
The rising price of homes has made the American dream of owning a home unsustainable for many Americans, especially members of Generation Z.
Increasing the U.S. housing supply is a logical solution to bringing housing prices down and making shelter affordable for most Americans.
Market Implications: Companies involved in residential construction stand to benefit if there&#8217;s a push to increase housing supply. These include major homebuilders such as D.R. Horton Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>), Lennar Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) and PulteGroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>). Increased demand for new housing units could drive up their revenues.
The iShares U.S. Home Construction ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITB#BATS">ITB</a>) and the SPDR S&amp;P Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>) are among the largest exchange-traded funds tracking the home construction sector. The iShares U.S. Basic Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYM#NYSE">IYM</a>) tracks materials, some of which are used in construction.
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Image generated using artificial intelligence via Midjourney.

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Shares of homebuilders are trading lower in sympathy with Lennar, which fell after reporting Q2 earnings and issuing guidance.

PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) has outperformed the market over the past 10 years by 8.45% on an annualized basis producing an average annual return of 19.1%. Currently, PulteGroup has a market capitalization of $24.27 billion. 
Buying $1000 In PHM: If an investor had bought $1000 of PHM stock 10 years ago, it would be worth $5,785.09 today based on a price of $115.40 for PHM at the time of writing.
<h3>PulteGroup's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1718375418_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 10 Years Ago Would Be Worth $5,800 Today

LGIH

Shares of homebuilders and building products companies are trading higher. Strength may be due to a drop in Treasury yields following soft May CPI data.

PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) has outperformed the market over the past 5 years by 15.94% on an annualized basis producing an average annual return of 28.71%. Currently, PulteGroup has a market capitalization of $24.34 billion. 
Buying $100 In PHM: If an investor had bought $100 of PHM stock 5 years ago, it would be worth $363.72 today based on a price of $115.70 for PHM at the time of writing.
<h3>PulteGroup's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1717432218_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 5 Years Ago Would Be Worth $400 Today

Shares of homebuilders are trading lower in sympathy with Toll Brothers, which fell following Q2 earnings.

Citigroup analyst Anthony Pettinari maintains PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) with a Neutral and raises the price target from $127 to $129.

Price Target

Citigroup Maintains Neutral on PulteGroup, Raises Price Target to $129

Shares of homebuilders are trading higher amid overall market strength following April CPI data.

PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) has outperformed the market over the past 10 years by 9.37% on an annualized basis producing an average annual return of 20.13%. Currently, PulteGroup has a market capitalization of $24.48 billion. 
Buying $100 In PHM: If an investor had bought $100 of PHM stock 10 years ago, it would be worth $620.36 today based on a price of $116.38 for PHM at the time of writing.
<h3>PulteGroup's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715635812_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 10 Years Ago Would Be Worth $600 Today

PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) has outperformed the market over the past 10 years by 9.63% on an annualized basis producing an average annual return of 19.98%. Currently, PulteGroup has a market capitalization of $23.67 billion. 
Buying $1000 In PHM: If an investor had bought $1000 of PHM stock 10 years ago, it would be worth $6,158.73 today based on a price of $112.52 for PHM at the time of writing.
<h3>PulteGroup's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714663827_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning PulteGroup Stock In The Last 10 Years

Corporate <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">earnings came to the market&#8217;s rescue in the past week,</a> helping to overcome rate fears. As we look ahead to the unfolding week, it remains to be seen whether the tech earnings deluge can keep the rally&#8217;s momentum going. 
The Week That Was: High-profile Magnificent Seven earnings panned out mostly positively for the market, with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) the outlier. The social media giant&#8217;s stock fell sharply as traders fretted over the soft second-quarter revenue guidance and the company&#8217;s massive AI investment plans. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) managed to appease the Street despite the double miss as it held out the promise of an expeditious launch of a more affordable EV. 
With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-26-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-26-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril262024">said </a>FactSet in a report.
The blended first-quarter earnings growth of S&amp;P 500 companies is estimated at 3.5%, up from the 0.6% growth estimated in the week ended April 19, the financial data analytics firm said. If the trend holds, the S&amp;P 500 companies are on track to report earnings growth for the third straight quarter.
Of the 11 S&amp;P sector classes, eight sectors reported year-over-year earnings growth, led by communication services, utilities, IT, and consumer discretionary sectors. On the other hand, healthcare, energy, and materials have reported year-over-year earnings declines.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Look Ahead: The unfolding week will see 175 S&amp;P 500 companies and 6 Dow 30 components releasing their quarterly scorecards. The earnings roster includes two Magnificent Seven companies, namely Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), e-commerce retailers, payment processors, restaurants, and energy and REIT companies.
Earnings from Apple and Amazon could be market-moving, given the weighting of these stocks in the S&amp;P 500 Index. Also, Apple is considered a bellwether, given its exposure to consumers. Morgan Stanley&#8217;s Erik Woodring expects Apple to report a slightly beat but guide June quarter revenue down. 
Investors are likely to keep a close eye on performance in China, Apple&#8217;s updated capital return framework, and capital expenditures, the analyst said.
That said, the analyst is positive on the stock ahead of its annual Worldwide Developers&#8217; Conference due on June 10th. &#8220;With Apple&#8217;s biggest WWDC event on June 10th, we&#8217;d buy post-earnings weakness,&#8221; he said.
Amazon will likely continue to report double-digit sales and profit growth in the first quarter, according to Telsey Advisory Group analyst Joseph Feldman. The analyst premised his optimism on the strength of online spending, gains from expanded merchandise and faster fulfillment, and stabilization (and growth) of AWS. 
&#8220;Importantly, we expect [a] greater focus on profits supported by the growth of higher margin categories and services, such as advertising, media, and AWS (partly helped by AI-related upgrades), the redesigned distribution network&#8230;.. and cost savings,&#8221; he said.
Notable among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting earnings this week</a> are:
Monday 
<ul>
<li>Before the bell: JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>), SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
<li>After the close: F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>), Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>)</li>
<li>After the close: Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
</ul>

Wednesday 
<ul>
<li>Before the bell: Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>)</li>
<li>After the close: Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>)</li>
<li>After the close: Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), Cboe Global Markets, Inc. (CBOE: CBOE), Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>), XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session up 0.95% at $508.26, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech stocks, rose 1.54% to $431.
Read Next: <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/04/38464570/us-energy-stocks-fall-following-oil-giants-subdued-earnings-reports">US Energy Stocks Fall Following Oil Giants&#8217; Subdued Earnings Reports</a>

Raymond James analyst Buck Horne reiterates PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) with a Outperform and raises the price target from $120 to $135.

Reiteration

Raymond James Reiterates Outperform on PulteGroup, Raises Price Target to $135

Jefferies analyst Collin Verron maintains PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) with a Buy and raises the price target from $126 to $131.

Jefferies Maintains Buy on PulteGroup, Raises Price Target to $131

RBC Capital analyst Mike Dahl maintains PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) with a Sector Perform and raises the price target from $106 to $113.

RBC Capital Maintains Sector Perform on PulteGroup, Raises Price Target to $113

Zelman &amp; Assoc upgrades PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) from Neutral to Outperform.

Upgrades

Zelman & Assoc Upgrades PulteGroup to Outperform

Oppenheimer analyst Tyler Batory maintains PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) with a Outperform and raises the price target from $138 to $143.

Oppenheimer Maintains Outperform on PulteGroup, Raises Price Target to $143

Stocks surged across the board on Tuesday, gaining momentum after Monday&#8217;s rebound as unexpectedly weak economic data bolstered hopes for a potential Federal Reserve rate cut <a href="https://www.benzinga.com/federal-reserve">by the end of the summer</a>.
What Happened: The S&amp;P Global&#8217;s Purchasing Managers&#8217; Index (PMI) for April indicated a significant deceleration in private sector growth—the slowest in four months—also highlighting reduced inflationary pressures <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38381361/us-private-sector-growth-unexpectedly-slows-in-april-marks-lowest-increase-in-4-mon">from wages and services.</a>
Market-implied probabilities for a rate cut by the Fed as early as September jumped to 72%, up from 67% on Monday, according to CME Group&#8217;s FedWatch Tool. 
Meanwhile, corporate earnings have generally exceeded expectations, with investors now eagerly anticipating results from Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), slated for release after market close.
By midday trading in New York, the S&amp;P 500 climbed 1.2%, setting the stage for its best performance in over a month. The Nasdaq 100 outperformed the broader market, up 1.5%, while the Dow Jones Industrial Average saw a more modest increase of 0.6%.
The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) outperformed its large-cap counterparts, jumping 1.7% and marking its most significant gain since late March.
The dollar declined by 0.4%, and Treasury yields slightly fell. In the commodities market, gold remained steady following its sharpest drop in years on Monday, while oil prices inched 1% higher. Bitcoin edged down slightly by 0.3% to $66,640.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,002.50</td>
<td>1.7%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,463.15</td>
<td>1.5%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,068.20</td>
<td>1.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,468.74</td>
<td>0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:37 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.2% to $505.50, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.6% to $384.94 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 1.5% to $425.11, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 1.8%. The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) was the major laggard, down 0.5%. 
<h3 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h3>
<ul>
<li>Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) saw its shares surge 17% following a robust earnings beat, setting the stock on course for its best single-day performance since its 2018 IPO.</li>
<li>Other companies reacting to recent earnings were Globe Life Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GL#NYSE">GL</a>), up 13%, GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>),up 7.3%, Danaher Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>), up 7.3%, General Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), up 5%, Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>), up nearly 3%, PepsiCo. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NYSE">PEP</a>), down 2.2%, United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>), up 2%, Xerox Holdings Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NYSE">XRX</a>), down 11%, MSCI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>), down 14%, LKQ Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKQ#NASDAQ">LKQ</a>), down 14%, Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>), flat, and Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), up 0.5%, </li>
<li>Notable names reporting after the close other than Tesla Inc. and Visa, Inc. are Texas Instruments, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>), Seagate Technology Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>), Mattel, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>), Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), Canadian National Railway Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) and Baker Hughes Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>).</li>
</ul>
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Stocks Rally On Weaker PMI Data, Tech Earnings Optimism, Dollar Falls: What's Driving Markets Tuesday?

PulteGroup, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) shares are trading higher after the company reported&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38374279/pultegroup-inc-reports-first-quarter-2024-financial-results" rel="noreferrer noopener">first-quarter FY24&nbsp;results</a>.
Revenue stood at $3.95 billion, beating the consensus of $3.58 billion.
Reported home sale revenues rose 10% Y/Y to $3.8 billion, with higher revenues reflecting an 11% increase in closings to 7,095 homes, partly offset by a 1% Y/Y drop in average sales price to $538,000.
The gross margin for home sales stood at&nbsp;29.6%, increasing by 50 basis points Y/Y, benefiting from ongoing strength in homebuyer demand and a favorable geographic mix of homes.
Net new orders increased 14% Y/Y to 8,379 homes. The cancellation rate dropped to 10% of the backlog at the start of the period, a decrease from 13% in the first quarter of the previous year.
GAAP EPS rose 32% Y/Y to $3.10. Adjusted EPS of $2.87 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $2.36</a>.
PulteGroup&#8217;s&nbsp;quarter-end backlog was 13,430 homes, valued at $8.2 billion. The company ended the year with $1.8 billion of cash and a debt-to-capital ratio of&nbsp;15.4%.&nbsp;
During the quarter, the company repurchased 2.3 million of its common shares for $246 million, or an average price of $106.73 per share.
&#8220;Given PulteGroup&#8217;s broad operating platform and deep product portfolio, along with the powerful incentive programs we can offer to help improve the overall affordability equation, we are well positioned to expand our market share while helping to provide much needed new housing stock.&#8221; said Ryan Marshall, PulteGroup President and CEO.
Investors can gain exposure to the stock via IShares U.S. Home Construction ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITB#BATS">ITB</a>) and Invesco Building &amp; Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKB#NYSE">PKB</a>). 
Price Action: PHM shares were up 3.9% at $112.14 at last check Tuesday.
Photo: Shutterstock

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Barron&rsquo;s recently suggested that the malaise in homebuilder stocks that&rsquo;s been ongoing since March looks ready to end. That suggests investors might want to consider homebuilder stocks to buy to ride their upward correction.



Arguments for buying homebuilder stocks include the fact that despite more homes for sale in the U.S. &mdash; <a href="https://www.barrons.com/articles/home-builder-stocks-lennar-kbhome-toll-drhorton-hims-wegovy-88c218b3">1.52 million</a> single family homes, new and existing, were for sale in April &mdash; that is still well below the historical average of 2.36 million.&nbsp;



The article points out that UBS analysts believe homebuilder stocks deserve a higher valuation. Some of the largest are trading at 9-10 times the forward earnings estimate.&nbsp;




&ldquo;More broadly, it argues that the home-builder group has undergone a &lsquo;vast transformation&rsquo; for the better since the global financial crisis, and deserves a higher valuation,&rdquo; stated Barron&rsquo;s contributor Jack Hough.&nbsp;




With the U.S. housing shortage at 2.2 million units needing to be built, the strongest homebuilders will continue growing their businesses. That should continue to fuel a rebound into the fall and beyond.



Here are my three to buy in June.&nbsp;



<h2>PulteGroup (PHM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/pultegroup-phm-1600-300x169.jpg" alt="the PulteGroup logo seen displayed on a smartphone"><div>Source: rafapress / Shutterstock.com</div></div>PulteGroup (NYSE:<a href="https://investorplace.com/stock-quotes/phm-stock-quote/">PHM</a>) is the largest of the three homebuilder stocks to buy, with a market capitalization of $23.67 billion.



In July, I <a href="https://investorplace.com/2023/07/3-homebuilder-stocks-to-buy-to-profit-from-the-housing-shortage/">recommended</a> buying Pulte stock because it was trading for 6.8x its forward earnings. The biggest issues for investors at the time were twofold: First, would demand remain high? Second, could Pulte keep up with demand?&nbsp;



A year later, it&rsquo;s clear that demand remains high for its new houses. In late April, it reported Q1 2024 results that beat analyst estimates on the top and bottom lines. Its shares rose on the news.&nbsp;



Across the board, its results were positive. Earnings per share increased 32% to $3.10,&nbsp;net new orders increased 14% to 8,379 homes and its unit backlog was 13,430, valued at an average price of $610,573. It finished the quarter with $1.8 billion in cash on the balance sheet and $1.96 billion in long-term debt, good for just $191 million in net debt or 1.7% of its total net capital.&nbsp;



The unit backlog was up 2.3% year over year, while its dollar value increased by 2.8%, with the average price per house $2,758 higher.



Its shares trade at 9.5x its 2024 EPS estimate of <a href="https://www.marketwatch.com/investing/stock/phm/analystestimates">$11.88</a> and 8.7x its 2025 estimate of $12.94.&nbsp;&nbsp;&nbsp;



Its business remains very strong.&nbsp;



<h2>Taylor Morrison Home (TMHC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/TMHC1600-300x169.jpg" alt="the taylor morrison logo displayed on a web browser and magnified by a magnifying glass"><div>Source: Shutterstock</div></div>Taylor Morrison Home (NYSE:<a href="https://investorplace.com/stock-quotes/tmhc-stock-quote/">TMHC</a>) is the second-largest of the three homebuilder stocks to buy, with a market capitalization of nearly $6 billion.&nbsp;



In my July 2023 commentary regarding homebuilder stocks to buy, which I mentioned previously, I suggested that CEO Sheryl Palmer was a big reason for the company&rsquo;s success in the past decade.&nbsp;



Palmer has run the company since August 2007. She took it public in April 2013 at <a href="https://www.paulweiss.com/practices/transactional/capital-markets/news/taylor-morrison-closes-ipo">$22</a> a share. Its shares are 156% from their IPO price, with much of the gains coming since September 2022.&nbsp;



The company&rsquo;s big move came in <a href="https://newsroom.taylormorrison.com/2020-02-06-Taylor-Morrison-Announces-Close-of-William-Lyon-Homes-Acquisition-with-Unwavering-Commitment-to-Smart-Growth">2020</a> when it acquired William Lyon Homes for $2.5 billion in cash and stock. As a result of the acquisition, TMHC became the fifth-largest homebuilder in the U.S. More importantly, it expanded into three new markets: Washington, Oregon and Nevada. It also strengthened its position in entry-level homes.



In 2024, its focus moved from acquiring finished lots to developing its own land, primarily to accelerate its growth. In 2023, it spent <a href="https://www.builderonline.com/money/taylor-morrisons-2024-playbook-accelerate-growth-achieve-market-share-gains_o">$1.8 billion</a> on land acquisition and development in 2023. It plans to spend $2.4 billion in 2024 at the midpoint of its guidance.&nbsp;&nbsp;



As long as Palmer&rsquo;s in charge, I like TMHC stock.&nbsp;



<h2>Green Brick Partners (GRBK)</h2>



<a href="https://investorplace.com/wp-content/uploads/2016/03/Green-Brick-Partners-GRBK-stock.jpg"><img width="185" height="185" src="https://investorplace.com/wp-content/uploads/2016/03/Green-Brick-Partners-GRBK-stock.jpg" alt="The logo for Green Brick Partners Inc (GRBK)."></a>Green Brick Partners (NYSE:<a href="https://investorplace.com/stock-quotes/gbrk-stock-quote/">GBRK</a>) is the smallest of the three homebuilder stocks to buy, with a market capitalization of nearly $2.6 billion.&nbsp;



I&rsquo;ve written about Green Brick several times because it is <a href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0001373670/0f574cd6-0f91-4521-b48d-1dbf376d4070.pdf">25.2%</a> owned by Greenlight Capital, the investment advisor run by <a href="https://www.institutionalinvestor.com/article/2d5dj0slmic4dhmg8jsow/hedge-funds/david-einhorn-sees-compelling-values-in-broken-market">value investor</a> David Einhorn.&nbsp;



The company was co-founded by Einhorn and Texas real estate veteran Jim Brickman in <a href="https://investors.greenbrickpartners.com/why-invest/default.aspx">2009</a>. It went public in 2014. It now operates in Texas, Georgia, and Florida, which are three of the fastest-growing markets in the U.S.



In December 2022, I <a href="https://investorplace.com/2022/11/our-7-top-stock-picks-for-december-2022/">recommended</a> GBRK stock, suggesting that its gross margins, revenue growth and balance sheet were healthy. Today, they&rsquo;re even healthier.&nbsp;



In Q1 2024, while its revenue was down 1% over last year, to <a href="https://s202.q4cdn.com/944500558/files/doc_financials/2024/q1/Q1-2024-Exhibit-99-Earnings-Release-v5-1-Final.pdf">$447.3 million</a>, its EPS of $1.82 was a record for the first quarter, up 32.8% over last year, and a homebuilding gross margin of 33.4%, 580 basis points higher than Q1 2023. Most importantly, its debt to total capital was 18.3%, almost 10 percentage points less than in late 2022.&nbsp;&nbsp;&nbsp;&nbsp;




&ldquo;We achieved the second highest quarterly sales orders in company history at 1,071 net orders, just shy of the Covid-fueled 1,082 orders in the first quarter of 2021,&rdquo; CEO Jim Brickman stated in its Q1 2024 press release.




As homebuilders go, Green Brick is a diamond in the rough.&nbsp;



On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/3-homebuilder-stocks-to-buy-now-june-2024/">3 Homebuilder Stocks to Buy Now: June 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Homebuilder Stocks to Buy Now: June 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
High-flying <a href="https://investorplace.com/stock-types/growth-stocks/">growth stocks</a> have helped<a href="https://finance.yahoo.com/news/stock-market-today-dow-jumps-while-nvidia-slides-6-drags-on-nasdaq-200151312.html"> lift major indices</a> this quarter. The S&amp;P 500 is on track for a 4% gain, and the tech-heavy Nasdaq is set to rise by around 7%. Analysts attribute the gains to strong demand for artificial intelligence (AI) creating triple-digit growth for firms in that sector.



While consecutive record highs in the markets have sparked fatigue concerns, a narrow market focus and expectations of easing monetary policy could allow many high-flying growth stocks to continue outperforming. Return on equity (ROE), calculated by dividing a company&rsquo;s net income by shareholder equity,<a href="https://www.investopedia.com/terms/r/returnonequity.asp"> helps identify firms generating higher returns</a>. Companies earning more profits can return more to shareholders through dividends or buybacks. This can potentially support further stock price increases.



Generally, businesses with an ROE that exceeds competitors tend to see faster stock price growth. An<a href="https://www.bdc.ca/en/articles-tools/entrepreneur-toolkit/financial-tools/return-on-shareholders-equity"> ROE over 15%</a> is commonly viewed as satisfactory. However, traders may seek comparatively higher figures rather than focusing on thresholds. After a period of solid equity market expansion, several high-flying growth stocks stand out for their strong ROE and potential to outpace the competition. The following three, in particular, could be well positioned in this regard.



<h2><a></a>ABB (ABBNY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/abb-1600-300x169.jpg" alt="ABB Robotics, Inc. training center in suburban Detroit."><div>Source: Daniel J. Macy / Shutterstock.com</div></div>Swiss-based engineering and construction conglomerate ABB (OTCMKTS:<a href="https://investorplace.com/stock-quotes/abbny-stock-quote/">ABBNY</a>) is one of the high-flying growth stocks to watch closely. The company is<a href="https://new.abb.com/us"> well-known in North America</a> for its robotics solutions.



ABB is well-positioned in the current market environment as pressure increases for companies to automate and incorporate AI to improve efficiencies. The company is also<a href="https://global.abb/group/en/media/releases/group"> expanding its electrification activities</a> in North America and is poised to play a key role in the future energy transition.



In its recent Q1 earnings, ABB reported a<a href="https://search.abb.com/library/Download.aspx?DocumentID=9AKK108469A3661&amp;LanguageCode=en&amp;DocumentPartId=&amp;Action=Launch&amp;_ga=2.137274096.1744085780.1719305806-2116146760.1719305806"> 240% jump in free cash flow</a> (FCF) through efficiency initiatives. Both profit and operating margin achieved double-digit growth, with growth estimates for the current and next quarters over 75%. Even with its stock price up 27% year-to-date (YTD), ABB continues to boast an impressive ROE of 28%. 



<h2>&#8203;PulteGroup (PHM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/pultegroup-phm-1600-300x169.jpg" alt="the PulteGroup logo seen displayed on a smartphone"><div>Source: rafapress / Shutterstock.com</div></div>The home building and finance company PulteGroup (NYSE:<a href="https://investorplace.com/stock-quotes/phm-stock-quote/">PHM</a>) is a logical addition to the list of high-flying growth stocks. Despite the U.S. housing market being under pressure from high interest rates, it is expected to<a href="https://www.thestreet.com/investing/stocks/housing-market-seeks-fed-rate-cut-relief-as-sales-building-slumps"> experience a rebound</a> when the Federal Reserve finally eases up on rates, lowering the cost of mortgages.



PulteGroup stands out in its ability to benefit from both sides of that equation. While it builds homes, it also provides financing to potential home buyers. Despite adverse market conditions, it has also managed to generate<a href="https://s22.q4cdn.com/957797852/files/doc_earnings/2024/q1/earnings-result/Q1-2024-Earnings-Release.pdf"> 10% revenue growth</a> over the past year. PHM boasts an ROE of 27%, <a href="https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/roe.html">above the industry average</a> of 23%.



Notably, Pulte has been piling up cash on hand ($1.8 billion), positioning itself to capitalize on potentially lower rates right at the start of the easing cycle. Profit and operating margins stand at 16% and 20%, with YOY earnings growth at 32%.



The PHM stock price has grown 9% so far this year. Still, analysts see it continuing towards an average price target of $129.15, representing a <a href="https://www.tipranks.com/stocks/phm/forecast">potential 17% upside</a>.



<h2>Banco de Chile (BCH)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/01/shutterstock_1913855137-300x169.png" alt="Big waving Chilean national flag symbol on square at La Moneda Palace, urban tourist attraction in business district downtown of capital city Santiago de Chile, Chile"><div>Source: Jens_Bee / Shutterstock.com</div></div>Banco de Chile (NYSE:<a href="https://investorplace.com/stock-quotes/bch-stock-quote/">BCH</a>) is the final pick of high-flying growth stocks as it has grown so fast it has outpaced many of its peers. Banks are often known for stability over rapid expansion, and this Chilean bank has delivered strong financial returns. The company provides banking and financial services across Latin America, with a focus on Chile. Chile saw<a href="https://www.reuters.com/world/americas/chiles-economic-activity-posts-largest-increase-since-mid-2022-2024-04-01/"> notable economic growth</a> in 2024, prompting the central bank to lower interest rates.



Banco de Chile maintains a relatively low level of non-performing loans by prioritizing high-quality loans and often refinancing top-performing customers from competitors. It also holds the country&rsquo;s <a href="https://portales.bancochile.cl/uploads/000/068/176/e378f35b-e191-4e81-85dd-5be85a3a896a/original/Corporate_Presentation_1Q24_vf.pdf">largest share of assets under management</a> (AUM). This strategy of reducing financing expenses while steadily expanding revenue has proven successful, as the bank leads its market in profitability. Banco de Chile realizes an ROE of 21.2%,<a href="https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/roe.html"> far exceeding the average</a> for U.S. banks. Additionally, it generously rewards shareholders through a 7.2% dividend yield. Analysts view further upside for the share price, carrying an average target of $24.07. This implies a<a href="https://finance.yahoo.com/quote/BCH/analysis/"> 6% potential appreciation</a>.



On the date of publication, Stavros Tousios did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Stavros Tousios, MBA, is the founder and chief analyst at Markets Untold. With expertise in FX, macros, equity analysis, and investment advisory, Stavros delivers investors strategic guidance and valuable insights.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/3-high-flying-growth-stocks-ready-to-outpace-the-competition/">3 High-Flying Growth Stocks Ready to Outpace the Competition</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.


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