The US construction sector is at its peak. Towering cranes and sky-touching buildings have become a fixture of city skylines. Housing development, bridge construction, and buildings exemplify the growth of the construction sector. Talking about the US construction industry, the market size is valued at $2.1 Billion in 2022 and is predicted to gain a hike of 4% between 2024-2027.
It is good to consider these 5 stocks while investing.
United States Lime-and-Minerals (USLM: $213.73)
United States Lime-and-Minerals is the leading player in the US construction industry. The company was introduced in 1948 and is heavily engaged in the manufacturing of lime and limestone products. With 338 employees, the firm holds the potential to generate annual revenues of $236.15 Million with TTM standing at 19.15. USLM Stock price is $213.73, an incline of 0.34% in 24 hours with a market cap of $1.217 Billion.
Granite Construction Incorporated (GVA: $40.88)
Another popular name in the list is Granite Construction Incorporated, established in 1922 and employs 3.8K employees. Operating as a contractor and construction material firm, the company generates annual revenue of around $3.301 billion with a TTM of 43.78. GVA stock price is $40.88, a hike of 0.39% in the past 24 hours with a market cap of $1.795 Billion. The stock is a buy as per an aggregate view of professional ratings.
Caterpillar Inc. (CAT: $274.79)
Caterpillar Inc. is a powerful player in the US construction industry, engaged in the construction and manufacturing of construction and mining equipment. Established in 1925, the company operates with a 109.1K workforce adding to the firm generating an annual revenue of $59.427 Billion. CAT stock price is $274.79, an incline of 0.82% in the 24 hours with a market cap of $140.182 Billion. The stock is a buy as per the Trading View report.
Eagle Materials Inc. (EXP: $181.62)
Another stock that can offer heavy profits in the near future is Eagle Material Inc., founded in 1963. The company is heavily involved in manufacturing construction and building materials and employs around 2.4K workforce. EXP stock price is $181.75, a hike of 0.07% with a market cap of $6.44 Billion. The stock is a buy as per an aggregate view of professional ratings.
EMCOR Group Inc. (EME: $222.52)
EME is another strong construction stock to discover in 2023. The company was founded in 1987, offering electric construction and facilities services. The company employed 35.5K employees generating annual revenue of $11.076 Billion. EME stock price is 222.52, a decline of 0.20% with a market cap of $10.468 Billion. The stock is a buy as per an aggregate view of professional ratings.
Conclusion
The increasing demand for construction and building materials just boomed the value of constitution industry stocks in the US marketplace. Eagle Materials Inc., EMCOR Group Inc., Caterpillar Inc., United States Lime-and-Minerals, and Granite Construction Incorporated are some top stocks to discover in August 2023.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/09/03/top-5-construction-stocks-to-frame-usa-economy-in-august-2023/