Below you can find the list of 5 best homebuilder/housing stocks to buy now. For our detailed discussion as well as a more comprehensive list please see 11 Best Homebuilder/Housing Stocks To Buy Now.
5. Carrier Global Corporation (CARR)
Number of Hedge Funds: 49
Total Value of HF Holdings: $1.9 billion
Carrier shares tripled since the middle of April, whereas its parent company’s shares have been pretty much flat. There were a total of 49 hedge funds with bullish CARR positions at the end of September. Southeastern Asset Management has been a happy shareholder but sold out of the stock a little bit early in our opinion. Here is what they said in their Q3 investor letter:
“Carrier (23%, 0.83%), the heating, ventilation and air conditioning (HVAC) and security company, was also a top performer. We added to our position in Carrier when it spun out of United Technologies early last quarter, as it traded at less than half of our appraisal and a 7x trailing P/E against similar competitors that were trading at 13-17x. Carrier CEO David Gitlin and the rest of the management team have done great work in a very difficult situation to preserve cash, deleverage and position the business for a strong rebound as lockdowns eased. Carrier’s share price almost doubled over a period of months, and we exited the position in the quarter as it traded through our appraisal.”