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May 18, 2022, 8:52 a.m. EDT

Home builder stocks fall after data showing new construction slowed

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By Tomi Kilgore

Shares of home builders traded broadly lower in premarket trading Wednesday, following disappointing government data on April housing starts and building permits. The iShares U.S. Home Construction ETF /zigman2/quotes/203468436/composite ITB -1.16% slumped 2.5% in premarket trading, while futures /zigman2/quotes/209948968/delayed ES00 -0.52% for the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.55% slipped 0.7%. Among some of the more active home builders ahead of the open, shares of Toll Brothers Inc. /zigman2/quotes/201912487/composite TOL -2.33% fell 1.8%, PulteGroup Inc. /zigman2/quotes/201694804/composite PHM -1.82% slid 1.9%, KB Home /zigman2/quotes/206220859/composite KBH -2.90% gave up 0.7%, D.R. Horton Inc. /zigman2/quotes/202032328/composite DHI -0.80% dropped 1.5% and Lennar Corp. /zigman2/quotes/202536373/composite LEN -1.26% slipped 0.7%. Construction of new homes fell 0.2% to an annual pace of 1.72 million in April, compared with expectations of a 1.75 million rate. Building permits fell 3.2% to a 1.82 million rate, in line with expectations. Also in the home builder ETF, shares of Lowe's Cos. /zigman2/quotes/205563664/composite LOW +0.55% declined 3.9% premarket, after the home improvement retailer beat fiscal first-quarter profit expectations but missed on sales. Elsewhere, shares of real estate information company Zillow Group Inc. /zigman2/quotes/204413973/composite Z -2.57% dropped 2.0% premarket.

/zigman2/quotes/203468436/composite
US : U.S.: Cboe BZX
$ 51.76
-0.61 -1.16%
Volume: 1.84M
June 29, 2022 12:34p
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 3,805.50
-20.00 -0.52%
Volume: 1.03M
June 29, 2022 11:24a
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/zigman2/quotes/210599714/realtime
US : S&P US
3,800.40
-21.15 -0.55%
Volume: 961.95M
June 29, 2022 12:34p
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/zigman2/quotes/201912487/composite
US : U.S.: NYSE
$ 43.59
-1.04 -2.33%
Volume: 563,972
June 29, 2022 12:33p
P/E Ratio
5.48
Dividend Yield
1.83%
Market Cap
$5.13 billion
Rev. per Employee
$1.72M
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/zigman2/quotes/201694804/composite
US : U.S.: NYSE
$ 39.15
-0.73 -1.82%
Volume: 492,649
June 29, 2022 12:34p
P/E Ratio
4.82
Dividend Yield
1.53%
Market Cap
$9.47 billion
Rev. per Employee
$2.25M
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/zigman2/quotes/206220859/composite
US : U.S.: NYSE
$ 27.77
-0.83 -2.90%
Volume: 454,541
June 29, 2022 12:34p
P/E Ratio
3.83
Dividend Yield
2.15%
Market Cap
$2.53 billion
Rev. per Employee
$2.55M
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/zigman2/quotes/202032328/composite
US : U.S.: NYSE
$ 65.36
-0.53 -0.80%
Volume: 1.33M
June 29, 2022 12:34p
P/E Ratio
4.69
Dividend Yield
1.37%
Market Cap
$23.19 billion
Rev. per Employee
$2.36M
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/zigman2/quotes/202536373/composite
US : U.S.: NYSE
$ 68.86
-0.88 -1.26%
Volume: 763,681
June 29, 2022 12:33p
P/E Ratio
4.73
Dividend Yield
2.17%
Market Cap
$20.18 billion
Rev. per Employee
$2.52M
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/zigman2/quotes/205563664/composite
US : U.S.: NYSE
$ 175.68
+0.96 +0.55%
Volume: 876,837
June 29, 2022 12:34p
P/E Ratio
14.33
Dividend Yield
2.39%
Market Cap
$111.67 billion
Rev. per Employee
$283,088
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/zigman2/quotes/204413973/composite
US : U.S.: Nasdaq
$ 32.28
-0.85 -2.57%
Volume: 1.01M
June 29, 2022 12:34p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$8.18 billion
Rev. per Employee
$1.02M
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