5 Construction Stocks Billionaires Are Loading Up On

2. Vulcan Materials Company (NYSE:VMC)

Number of Billionaire Investors: 13

Dollar Value of Billionaire Holdings: $167,077,215

Number of Hedge Fund Holders: 49

Vulcan Materials Company (NYSE:VMC) is a Birmingham, Alabama-based company. It is considered one of the biggest producers of construction materials in the US and is also involved in the production and distribution of construction aggregates, primarily crushed stone, sand, and gravel.

On May 10, Brent Thielman at DA Davidson increased the price target on Vulcan Materials Company (NYSE:VMC) from $212 to $225 and maintained a Buy rating on the stock. The analyst noted that the company’s Q1 2023 results were better than expected despite facing the adverse impact of cold weather in the western part of the country. Thielman highlighted that the pricing momentum and pricing recovery are working in favour of Vulcan Materials Company (NYSE:VMC).

Billionaires are bullish on Vulcan Materials Company (NYSE:VMC) as it is considered one of the best construction stocks. As of Q1 2023, 13 billionaires reported owning a stake in Vulcan Materials Company (NYSE:VMC).