These are the cheapest stocks in the S&P 500 at the start of the second quarter

With the stock market's new quarter off to a lukewarm start so far,

Pro has ideas for investors searching for value. The S & P 500 faltered this week, pulling back after notching its best first quarter since 2019. That has left investors asking if the market could be in for some consolidation after megacap stocks pushed the broad index higher in the five months since the end of October.

Pro screened for names with cheap valuations that might offer value. To find these names, Pro screened for the following criteria: Forward and trailing price-to-earnings multiples both below 12. By comparison, the SPDR S & P 500 ETF Trust currently sells for 25.8 times earnings, according to FactSet. Earnings growth within the past year. Stocks that are higher this year, in order to exclude those whose P/E multiples are low just because the stock price fell.

Pro subscribers can see the screen here. Here are the 13 stocks that made the list: General Motors made the list, with both multiples under seven. The stock has climbed more than 25% this year, while posting earnings growth of more than 19%. Even as GM traded Thursday at its highest since March 2022, analysts see still more upside ahead. The average analyst polled by LSEG has a buy rating and a price target implying further upside of more than 10%.

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