High-Growth Investments

The Allstate Corporation

The Allstate Corporation (ALL) is a leading insurance provider that’s kept its customers in “good hands” for more than 90 years. Today, Allstate has nearly 193 million policies, and through these policies, it provides a variety of insurance products and services, including auto, boat, motorcycle, homeowners, renters, life and business insurance.

Allstate will announce second-quarter results after the stock market closes on Wednesday, July 31. Second-quarter earnings are expected to jump to $0.37 per share, up from a $4.42 per share loss in the same quarter a year ago. Analysts have also increased earnings estimates from a $0.46 per share loss just a week ago, so a fourth-straight quarterly earnings surprise is likely.

I should also add that Allstate continues to reward its shareholders. The company will pay a quarterly dividend of $0.92 per share, up from $0.89 per share in the same quarter a year ago, on October 1. All shareholders of record on August 30 will receive the dividend. The stock has a 2.2% dividend yield. ALL is a Conservative buy below $181.

SOM Technicals:

8-3-24: Closed at 178.82. Trade pressures are up. Volumes are bullish. The next target up is 188.86.

8-11-24: Closed at 171.03. Trade pressures are rising to the neutral zone. Volumes are neutral. The next target down is 168.07.

8-16-24: Closed at 178.11. Trade pressures are up. Volumes are bearish. The next target down is 175.48.

8-26-24: Closed at 180.51. Trade pressures are up. Volumes are bullish. The next target up is 184.31.

 

Coca-Cola Consolidated, Inc.

Coca-Cola Consolidated, Inc. (COKE) bottles and distributes a vast range of beverage products and flavors, including Coca-Cola branded products, as well as well-known energy drinks, sparkling and still beverages, carbonated and non-carbonated drinks.

There currently aren’t any analysts following Coca-Cola Consolidated, but the company’s recent results were still robust. For the first quarter, the company reported sales rose 1.3% year-over-year to $1.59 billion, while operating earnings increased 4.5% year-over-year to $215.4 million. Coca-Cola Consolidated will announce second-quarter and first-half results after the stock market closes on Wednesday, July 31.

Coca-Cola Consolidated also recently announced that it will pay a third-quarter dividend of $0.50 per share on August 9. All shareholders of record on July 26 will receive the dividend. The stock has a 0.18% dividend yield. COKE is a Conservative buy below $1,252.

SOM Technicals:

8-3-24: Closed at 1274.20. Trade pressures are up. Volumes are bullish. The next target up is 1345.00.

8-11-24: Closed at 1259.41. Trade pressures are up but declining. Volumes are bullish. The next target down is 1217.49.

8-16-24: Closed at 1270.17. Trade pressures are up. Volumes are bullish. The next target up is 1305.70.

8-26-24: Closed at 1339.75. Trade pressures are up but declining. Volumes are neuatral. The next target down is 1319.69.

 

The Progressive Corporation

The Progressive Corporation (PGR) is a well-known insurance provider, offering everything from car, boat and motorcycle insurance to homeowners, renters and commercial insurance. The company also offers popular insurance bundles, in which folks can bundle their auto and property insurance for lower rates. And Progressive continues to benefit from high insurance rates.

Back on July 16, Progressive reported that second-quarter earnings surged 322% year-over-year to $1.46 billion, or $2.48 per share. The analyst community only expected earnings of $2.01 per share, so Progressive posted a 23.4% earnings surprise.

At the end of the quarter, Progressive noted that it had a total of 32.31 million policies in force, up 9% from 29.58 million policies at the end of the second quarter in 2023.

Progressive also consistently rewards its shareholders. The company paid a dividend of $0.10 per share on July 12, which represented its 22-straight quarterly dividend. The stock has a 0.19% dividend yield. PGR is a Conservative buy below $230.

SOM Technicals:

4/27/24: Closed at 205.03. Trade pressures are down. Volumes are bearish. The next target down is 199.79.

5-4-24: Closed at 208.72. Trade pressures are down. Volumes are bullish. The next target down is 206.06.

5-10-24: Closed at 210.17. Trade pressures are neutral. Volumes are bullish. The next target down is 211.49.

5-18-24: Closed at 209.22. Trade pressures are down but rising. Volumes are bearish. The next target down is 201.34.

5-25-24: Closed at 203.91. Trade pressures are down. Volumes are bearish. The next target down is 191.19.

6-2-24: Closed at 211.18. Trade pressures are up. Volumes are bullish. The next target up is 214.90.

6-8-24: Closed at 212.53. Trade pressures are up. Volumes are bullish. The next target up is 219.12.

6-15-24: Closed at 203.92. Trade pressures are down but rising. Volumes are bearish. The next target up is 218.20.  

6-23-24: Closed at 209.19. Trade pressures are down. Volumes are bullish. The next target down is 206.

6-30-24: Closed at 207.71. Trade pressures are up into the neutral zone. Volumes are bearish. The next target up is 218.69.

7-5-24: Closed at 210.18. Trade pressures are down. Volumes are neutral. The next target down is 205.22.

7-12-24: Closed at 213.30. Trade pressures are up. Volumes are bullish. The next target up is 218.69.

7-20-24: Closed at 219.35. Trade pressures are up but declining. Volumes are bearish. The next target down 212.57.

8-3-24: Closed at 216.94. Trade pressures are up. Volumes are bullish. The next  target up is 240.00.

8-11-24: Closed at 221.73. Trade pressures are up. Volumes are bullish. The next target up is 227.32.

8-16-24: Closed at 236.77. Trade pressures are up. Volumes are bullish. The next target up is 244.22.

8-26-24: Closed at 242.45. Trade pressures are up. Volumes are bullish. The next target up is 246.40.

 

Targa Resources Corporation

Targa Resources Corporation (TRGP) is a midstream energy company that provides gathering and processing systems as well as logistics and transportation systems. The company operates more than 31,000 miles of natural gas pipelines and 53 processing plants, which service top natural gas and crude oil-producing basins in the U.S.

The company operates in the lucrative oil and natural gas-producing region in the Permian Basin, and its robust operations in this region are anticipated to add handsomely to its top and bottom lines.

Targa Resources scheduled its second-quarter earnings announcement for August 1. Analysts currently expect second-quarter earnings of $1.25 per share and revenue of $4.44 billion, which compares to earnings of $1.44 per share and revenue of $4.36 billion in the same quarter a year ago. Analysts have upped earnings estimates over the past month.

I should also add that Targa Resources recently announced its next dividend payment. The company will pay a quarterly dividend of $0.75 per share on August 15. All shareholders of record on July 31 will receive the dividend. The stock has a 2.3% dividend yield. TRGP is a Conservative buy below $141.

SOM Technicals:

5-25-24: Closed at 114.28. Trade pressures are down. Volumes are bearish. The next target down is 111.90.

6-2-24: Closed at 118.23. Trade pressures are up. Volumes are bullish. The next target up is 119.68.

6-8-24: Closed at 118.01. Trade pressures are up. Volumes are bullish. The next target up is 119.68.

6-15-24: Closed at 119.00. Trade pressures are down. Volumes are neutral. The next target down is 117.63.

6-23-24: Closed at 125.10. Trade pressures are up. Volumes are bearish. The next target down is 123.65.

6-30-24: Closed at 128.78. Trade pressures are up. Volumes are bullish. The next target up is 130.53.

7-5-24: Closed at 132.49. Trade pressures are up. Volumes are bullish. The next target up is 139.71.

7-12-24: Closed at 135.05. Trade pressures are up. Volumes are bullish. The next target up is 137.41.

7-20-24: Closed at 136.37. Trade pressures are up. Volumes remain bullish. The next target up is 139.96.

8-3-24: Closed at 130.58. Trade pressures are down. Volumes are bearish. The next target down is 126.70.

8-11-24: Closed at 135.69. Trade pressures are up. Volumes are bullish. The next target up is 139.35, the prior high.

8-16-24: Closed at 142.83. Trade pressures are up. Volumes are bullish. The next target up is 150.00.

8-26-24: Closed at 145.47. Trade pressures are up. Volumes are bullish. The next target up is 151.82.

 

Vertiv Holdings Co.

Vertiv Holdings Co. (VRT) primarily provides digital infrastructure, offering a portfolio of power, cooling and IT infrastructure solutions that are vital to commercial and industrial facilities, communication networks and data centers. The company has benefited immensely from the artificial intelligence revolution, as it helps expand the utility grid and data centers – and that was apparent in its latest quarterly results.

For the second quarter, Vertiv reported that earnings soared 114% year-over-year to $178.1 million, or $0.46 per share. That compared to earnings of $83.2 million, or $0.22 per share, in the same quarter a year ago. Adjusted earnings increased 48% year-over-year to $258.4 million, or $0.67 per share, which beat estimates for $0.57 per share by 17.5%.

Second-quarter orders increased 57% year-over-year and were up 37% on a 12-month trailing basis. In turn, second-quarter sales rose 13% year-over-year to $1.95 billion, topping estimates for $1.94 billion.

Looking ahead, Vertiv expects third-quarter sales between $1.935 billion and $1.985 billion and adjusted earnings per share between $0.65 and $0.69. That compares to the current consensus estimate that calls for sales of $1.97 billion and earnings of $0.63 per share. VRT is an Aggressive buy below $89.

SOM Technicals:

3-29-24: Closed at 81.84. Trade pressures are up but turning down. Volumes are bullish. The next target down is 77.05. A close above 83.62 signals higher.

4-6-24: Closed at 85.34. Trade pressures are up. Volumes are bullish. The next target up is the prior high at 88.70.

4-14-24: Closed at 83.89. Trade pressures are rising into the neutral zone. Volumes are neutral. The next target down is 78.14.

4-27-24: Closed at 93.49. Trade pressures are up. Volumes are neutral. The next target up is 94.76.

5-4-24: Closed at 93.01. Trade pressures are rising into the neutral zone. Volumes are bullish. The next target up is 95.70.

5-10-24: Closed at 95.40. Trade pressures are up. Volumes are bullish. The next target up is 100.01.

5-18-24: Closed at 96.81. Trade pressures are down. Volumes are neutral. The next target down is 90.96.

5-25-24: Closed at 106.17. Trade pressures are up. Volumes are bullish. The next target up is 126.68.

6-2-24: Closed at 98.07. Trade pressures are down. Volumes are bullish. The next target up is 101.57.

6-8-24: Closed at 87.68. Trade pressures are down. Volumes are bearish. The next target up is 94.31.

6-15-24: Closed at 91.48. Trade pressures are up. Volumes are neutral. The next target down is 80.34.

6-23-24: Closed at 90.62. Trade pressures are down. Volumes are now neutral. The next target down is 78.22.

6-30-24: Closed at 86.57. Trade pressures are down. Volumes are bearish. The next target down is 78.22.

7-5-24: Closed at 91.78. Trade pressures are up. Volumes are bullish. The next target up is 95.17.

7-12-24: Closed at 89.67. Trade pressures are down. volumes are bearish. The next target down is 85.44.

7-20-24: Closed at 85.31. Trade pressures are down but rising. Volumes are bearish. The next target up is 98.45.

8-3-24: Closed at 69.46. Trade pressures are down. Volumes are neutral. The next target down is 58.46.

8-11-24: Closed at 71.46. Trade pressures are up. Volumes are neutral. The next target up is 81.07.

8-16-24: Closed at 82.96. Trade pressures are up. Volumes are bullish. The next target up is 99.73.

8-26-24: Closed at 78.06. Trade pressures are up. Volumes are bearish. The next target up is 99.73.