Streetbeat News

PKB

Invesco Dynamic Building & Construction ETF

https://www.invesco.com/us/financial-products/etfs/product-detail?productId=PKB

Industry

Asset Management

The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying intellidex. The underlying intellidex was composed of common stocks of U.S. building and construction companies. These companies are engaged primarily in providing construction and related engineering services for building and remodeling residential properties, commercial or industrial buildings, etc. It is non-diversified.

Open

68.83

Mkt cap

258M

Volume

21K

High

68.93

P/E Ratio

16.63

52-wk high

88.96

Low

68.30

Div yield

0.00

52-wk low

65.93

Martin Marietta Materials Inc (NYSE:MLM) reported a 3% Y/Y decline in Q2 FY24 revenue to $1.764 billion, missing the consensus of $1.846 billion. Adjusted EPS of $5.26 also missed the consensus of $5.40. The company lowered its fiscal outlook for 2024, citing factors like historic precipitation and restrictive monetary policy impacting shipments. The stock is trading lower by 1.54% premarket. Investors can gain exposure via TCW Transform Supply Chain ETF (NYSE:SUPP) and Invesco Building & Construction ETF (NYSE:PKB).

Portfolio Pulse from Lekha Gupta

August 08, 2024 | 1:07 pm

Trane Technologies (NYSE:TT) reported strong Q2 results, surpassing revenue and EPS expectations, and raised its FY24 guidance. Revenues grew 13% Y/Y to $5.31 billion, and bookings increased 19% Y/Y to $5.34 billion. The company also reported a significant backlog and plans to maintain a competitive dividend while deploying excess cash to shareholders. Investors can gain exposure via Invesco Building & Construction ETF (NYSE:PKB) and AdvisorShares Gerber Kawasaki ETF (NYSE:GK).

Portfolio Pulse from Lekha Gupta

July 31, 2024 | 4:30 pm

PulteGroup, Inc. (NYSE:PHM) reported strong Q2 FY24 results with revenue of $4.60 billion, beating expectations. Home sale revenues rose 10% Y/Y, and GAAP EPS of 3.83 surpassed the consensus of 3.26. Despite a decline in net new orders, the dollar value of these orders increased. The company repurchased 2.8 million shares and announced a CFO transition. Investors can gain exposure via IShares U.S. Home Construction ETF (BATS:ITB) and Invesco Building & Construction ETF (NYSE:PKB).

Portfolio Pulse from Lekha Gupta

July 23, 2024 | 12:33 pm

As record-breaking heat waves sweep across the U.S., a debate is emerging over whether federal and state protections should be granted to workers exposed to extreme heat. The Biden administration has proposed a new OSHA rule to protect workers, but its future depends on the 2024 election outcome. The rule could impact various sectors, including construction and agriculture, which are tracked by ETFs like ITB, XHB, PKB, DBA, WEAT, and FAAR.

Portfolio Pulse from Natan Ponieman

July 16, 2024 | 8:31 pm

Tractor Supply Company (TSCO) has eliminated its DEI roles and goals, and shifted focus to rural American priorities amid backlash. The company also withdrew its carbon emission goals to concentrate on land and water conservation. This move follows social media criticism and customer feedback. TSCO stock has lost over 5% in the past month but is trading higher by 0.54% premarket. Investors can gain exposure to TSCO via Invesco Building & Construction ETF (PKB) and VictoryShares Nasdaq Next 50 ETF (QQQN).

Portfolio Pulse from Nabaparna Bhattacharya

June 28, 2024 | 11:19 am

CRH plc (NYSE:CRH) shares are trading lower after the company announced that Adbri’s independent shareholders approved the Scheme of Arrangement for CRH and the Barro Group to acquire Adbri Ltd. The deal, valued at A$2.1 billion, is expected to close on July 1, 2024. CRH will purchase the remaining 57% of Adbri’s shares not held by Barro for A$3.20 per share in cash. The acquisition is expected to bolster CRH's presence in Australia.

Portfolio Pulse from Lekha Gupta

June 14, 2024 | 12:19 pm

PulteGroup, Inc. (NYSE:PHM) shares rose after reporting first-quarter FY24 results with revenue of $3.95 billion, surpassing the consensus of $3.58 billion. Home sale revenues increased by 10% Y/Y to $3.8 billion, driven by an 11% increase in closings. The gross margin for home sales improved to 29.6%, and net new orders grew by 14% Y/Y. GAAP EPS was up 32% Y/Y to $3.10, and adjusted EPS of $2.87 beat the consensus of $2.36. The company also repurchased 2.3 million shares and ended the quarter with a strong cash position and backlog. Investors can also gain exposure to PulteGroup through IShares U.S. Home Construction ETF (BATS:ITB) and Invesco Building & Construction ETF (NYSE:PKB).

Portfolio Pulse from Lekha Gupta

April 23, 2024 | 2:38 pm

D.R. Horton, Inc. (NYSE:DHI) shares surged after reporting Q2 FY24 financial results that exceeded expectations, with sales growing 14% Y/Y to $9.1 billion and EPS at $3.52, surpassing the consensus. The company also raised its FY24 revenue and homes closed outlook, announced a quarterly dividend, and detailed its share repurchase activities. Investors can also gain exposure through IShares U.S. Home Construction ETF (BATS:ITB) and Invesco Building & Construction ETF (NYSE:PKB).

Portfolio Pulse from Lekha Gupta

April 18, 2024 | 2:07 pm

Southwest Gas Holdings, Inc.'s subsidiary, Centuri Holdings, Inc., is preparing for an IPO, offering 12.40 million shares with an option for underwriters to buy an additional 1.86 million shares. The price range is set between $18.00 and $21.00 per share, and it will be listed on the NYSE under the ticker 'CTRI'. Carl Icahn's investment entities have agreed to purchase 2.59 million shares concurrently. The IPO is part of a public filing with the SEC by Centuri. Exposure to SWX can also be gained through LeaderShares Activist Leaders ETF (ACTV) and Invesco Building & Construction ETF (PKB). SWX shares recently dropped by 0.74%.

Portfolio Pulse from Lekha Gupta

April 09, 2024 | 1:54 pm

In February, the U.S. saw a significant jobs growth, with the health care sector leading by adding 67,000 jobs, contributing to over a quarter of the total 275,000 jobs created. The Health Care Select Sector SPDR Fund (XLV) has seen an 8% increase this year, reflecting the sector's strong performance. Other notable job growths were in government employment, construction, transportation and warehousing, and retail trade, with respective ETFs like the Invesco Building & Construction ETF (PKB) and the iShares Transportation Average ETF (IYT) also experiencing gains.

Portfolio Pulse from Neil Dennis

March 08, 2024 | 3:20 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.