Home builder stocks take a broad hit after disappointing housing starts data

Shares of home builders were broadly lower Wednesday, after data showing February housing starts dropped a lot more than expected, while building permits took a surprise turn lower. The iShares U.S. Home Construction ETF /zigman2/quotes/203468436/composite ITB +0.51% dropped 1.4%, with 42 of 46 equity components losing ground. Among the more active home builders, shares of Lennar Corp. /zigman2/quotes/202536373/composite LEN +0.83% lost 0.6%, Toll Brothers Inc. /zigman2/quotes/201912487/composite TOL +0.49% gave up 1.6%, D.R. Horton Inc. /zigman2/quotes/202032328/composite DHI +0.32% declined 1.1% and PulteGroup Inc. /zigman2/quotes/201694804/composite PHM +0.32% shed 0.9%. Elsewhere, shares of home improvement retailers Home Depot Inc. /zigman2/quotes/208081807/composite HD +0.10% inched less than 0.1% lower while Lowe's Companies Inc. were down 0.7%. In comparison, the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.33% gained 63 points, or 0.2%, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.34% slipped 0.6%.

/zigman2/quotes/203468436/composite

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iShares U.S. Home Construction ETF

US : U.S.: Cboe BZX

$ 67.59

+0.34 +0.51%

Volume: 169,046

Jan. 27, 2023 10:16a

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Lennar Corp. Cl A

US : U.S.: NYSE

$ 100.86

+0.84 +0.83%

Volume: 88,224

Jan. 27, 2023 10:17a

P/E Ratio

6.39

Dividend Yield

1.49%

Market Cap

$28.53 billion

Rev. per Employee

$3.13M

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Toll Brothers Inc.

US : U.S.: NYSE

$ 57.44

+0.28 +0.49%

Volume: 52,863

Jan. 27, 2023 10:15a

P/E Ratio

5.19

Dividend Yield

1.39%

Market Cap

$6.27 billion

Rev. per Employee

$1.98M

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D.R. Horton Inc.

US : U.S.: NYSE

$ 97.12

+0.31 +0.32%

Volume: 216,387

Jan. 27, 2023 10:17a

P/E Ratio

6.01

Dividend Yield

1.03%

Market Cap

$33.24 billion

Rev. per Employee

$2.54M

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PulteGroup Inc.

US : U.S.: NYSE

$ 52.54

+0.17 +0.32%

Volume: 91,642

Jan. 27, 2023 10:16a

P/E Ratio

5.33

Dividend Yield

1.22%

Market Cap

$11.84 billion

Rev. per Employee

$2.49M

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Home Depot Inc.

US : U.S.: NYSE

$ 314.14

+0.32 +0.10%

Volume: 417,577

Jan. 27, 2023 10:17a

P/E Ratio

18.99

Dividend Yield

2.41%

Market Cap

$319.83 billion

Rev. per Employee

$320,609

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Dow Jones Industrial Average

US : Dow Jones Global

34,062.82

+113.41 +0.33%

Volume: 0.00

Jan. 27, 2023 10:17a

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S&P 500 Index

US : S&P US

4,074.07

+13.64 +0.34%

Volume: 0.00

Jan. 27, 2023 10:17a