|Bid||1,124.00 x 1100|
|Ask||1,129.98 x 800|
|Day's Range||1,114.95 - 1,129.91|
|52 Week Range||1,036.88 - 1,262.40|
|Beta (5Y Monthly)||1.39|
|PE Ratio (TTM)||319.30|
|Forward Dividend & Yield||72.50 (6.51%)|
|Ex-Dividend Date||Sep 28, 2023|
|1y Target Est||N/A|
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Leaders of big American companies react to the passing of Berkshire Hathaway's Charlie Munger.
One aspect of our investment thesis behind United Rentals and Vulcan Materials was confirmed by earnings and guidance from Construction Partners . Construction Partners' backlog rose to $1.6 billion exiting September, underpinning its revenue guidance of $1.75 billion-$1.825 billion over the next 12 months compared to $1.56 billion over the trailing 12 months. Also lending a hand to URI and VMC is the fall in Treasury yields -- and the impact that is having on mortgage rates and the SPDR S&P Homebuilders ETF .
Lots has been written about the vast bond hoard accumulated by US banks, the massive unrealised losses inflicted on those portfolios as interest rates rose, and the carnage this caused for weaker lenders. Behind all this is a story of deposits, in particular the $4.2tn worth of “non-interest-bearing” deposits in the US banking system, according to the Federal Reserve. This is because shareholders expect banks to earn significantly more on their assets than they pay out on their liabilities, to cushion shareholders from actual, realised losses.