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3 Warren Buffett Stocks That Are Screaming Buys Right Now
Warren Buffett has achieved an investment record that will be hard to beat. He took over a struggling textile mill in 1965 and turned it into a holding company with a market value of nearly $1 trillion, making Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) one of the top 10 largest components of the S&P 500 (SNPINDEX: ^GSPC) today.
Berkshire is Buffett’s largest personal holding and is a great starting place for any investor to grow their savings. Additionally, Berkshire owns stakes in homebuilder NVR (NYSE: NVR) and leading cosmetics retailer Ulta Beauty (NASDAQ: ULTA). Here’s why a team of Motley Fool contributors believe these stocks are timely buys right now.
John Ballard (Berkshire Hathaway): Buffett owns 38% of Berkshire Hathaway’s class A shares, and he’s been regularly buying back shares of class A and class B stock on behalf of Berkshire in recent years. Through the first half of 2024, Buffett authorized repurchasing $2.9 billion worth of Berkshire shares at prices not much lower than where it is currently trading. This means Buffett sees excellent value in the stock.
Berkshire owns dozens of wonderful businesses outright, including GEICO and BNSF Railway, to go along with its stock portfolio. Buffett views the company’s stock holdings, including large stakes in Apple, American Express, and Coca-Cola, the same as owning the whole business.
Buffett is already preparing for a day to scoop up more businesses on the cheap. He sold half of Berkshire’s stake in Apple in Q2, bringing Berkshire’s total cash and short-term investments to a whopping $276 billion. The large cash position, which is also enhanced by the billions in cash flow coming in from Berkshire’s subsidiaries, provides ample ammunition for the greatest investor to pounce on attractive investment opportunities as they arise.
Berkshire is truly a stock for all markets and all investors. With the recent buybacks, Buffett is sending a bullish signal to investors about the company’s future.
Jeremy Bowman (NVR): Buffett is known for looking for stocks that have wide economic moats, reliable business models, and good valuations, and NVR possesses all three qualities.
NVR is one of the nation’s leading homebuilders, and it’s often considered best-in-class in the sector due to its differentiated business model. Unlike many of its peers, NVR doesn’t begin by buying land outright. Instead, it negotiates the rights to buy parcels for development, which gives it much more financial flexibility and eliminates much of the downside risk in homebuilding.
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UK based foreign exchange brand Travelex has announced that the company has undertaken a major expansion in the UAE, with the launch of 13 new stores across Abu Dhabi and Dubai airports.
At Zayed International Airport, Travelex is doubling its store footprint from seven to 14 stores, including six new on-the-move kiosk (OTM) locations at arrivals baggage, airside departures and pre-immigration, and one new traditional landside store. The new landside store will offer both a cash management service that will enable the airport’s businesses to process cash, as well as traditional consumer cash services, including access to 62 currencies.
Travelex initially entered Zayed International Airport in late 2023 with seven stores and eight ATMs. The new stores reflect the growing passenger demand and customer requirements of the UAE’s newest airport. As a dominant force in the capital’s aviation sector, Zayed International Airport rapidly affirmed itself as a key hub for air travel, solidifying its position as a vital player in the global travel landscape.
At Dubai International (DXB), Travelex is in the process of launching six new stores across all three terminals, including new traditional stores and stores upgraded from OTMS. Two ATMS dispensing AED were also installed at Terminal 3 Arrivals earlier this year. DXB has also seen a considerable post-pandemic growth in pax numbers, reinforcing its status as a leading hub for international travel.
The 13 new stores across Abu Dhabi and Dubai means Travelex will be operating 60 locations across the country. The latest IATA figures show that Middle Eastern airlines saw a 9.6% year-on-year increase in demand for June 2024, while capacity increased 9.4% year-on-year.
Batu Dölay, Managing Director, Travelex Middle East and Türkiye said:
“We’re delighted to be expanding our presence at two of the most exciting and dynamic airports in the world. This investment reflects the growing global reach and passenger numbers of our UAE airport partners, and our commitment to providing even greater access to international travel money than ever before.”
About Travelex
Founded in 1976 Travelex has grown to become one of the market leading specialist providers of foreign exchange products, solutions, and services, operating across the entire value chain of the foreign exchange industry in more than 20 countries. We have developed a growing network of ATMs and stores in some of the world’s top international airports, major transport hubs, premium shopping malls and city centres.
Travelex has built a growing online and mobile foreign exchange platform, and we also process and deliver foreign currency orders for major banks, travel agencies, supermarkets and hotels worldwide. In addition, we source and distribute sizeable quantities of foreign currency banknotes for customers on a wholesale basis – including central banks and international financial institutions. We also offer a range of remittance and international money transfer products around the world.
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