Today I’m running the rule over three recent Footsie risers.

Build a fortune

Investors piled back into property play Barratt Developments (LSE: BDEV) with a vengeance last month, driving the stock higher by double-digit percentages.

Fear over the impact of shrinking buy-to-let demand has weighed on the housing sector in recent months. And the market is quite right to be concerned — from tightening affordability rules to hiking stamp duty, the Treasury plans to cool landlord demand in the coming years.

But there’s still plenty of room for the likes of Barratt to deliver bumper returns, in my opinion, as generous lending conditions for first-time buyers remain; a strong UK economy supports buyer affordability; and a shortage of housing stock persists.

City brokers are in agreement with this, and Barratt’s earnings are expected to rise 20% and 11% in 2016 and 2017, respectively. And consequent P/E ratings of 10.9 times and 10 times leave plenty in the tank for further share price rises.

In addition, market-mashing dividend yields of 4.9% for 2016 and 5.9% for 2017 also suggest that Barratt remains significantly undervalued.

Drive away a bargain

Car dealership Pendragon (LSE: PDG) emerged as one of May’s major winners as UK car demand continued to explode.

Latest data from the Society of Motor Manufacturers and Traders showed new car purchases in Britain hit their loftiest since 2003 in April, at 189,505 units.

And the industry expects these numbers to keep on rising, helped in no small part by helpful financing deals. Indeed, Ford UK sales director Andy Barratt told industry bible Autocar last month that new vehicle sales are on course to breach the 3m marker by next year.

This environment is expected to propel earnings at Pendragon 4% higher in both 2016 and 2017, figures that produce excellent P/E ratios of 10.8 times and 10.4 times.

Moreover, dividend yields of 3.5% for this year and 3.7% beat the big-cap average by a nose. I believe Pendragon still has plenty to offer investors even after last month’s hefty share price gains.

Still too cheap!

Insurance giant Legal & General (LSE: LGEN) also saw its stock value head higher during May. But I believe the stock still remains ultra-cheap on both a growth and income basis.

The financial favourite clearly has the wind in its sails, Legal & General enjoying a 10% profits bump last year as business flowed in from across the globe. And the company has set itself up to benefit from evolving social trends and legislative changes to keep sales ticking higher.

Indeed, Legal & General snapped up Aegon’s annuity portfolio for £3bn late last month to strengthen its focus on ageing populations.

The City expects Legal & General to chalk up earnings advances of 9% in 2016 and 7% next year, resulting in very attractive P/E ratios of 11.7 times and 10.9 times respectively.

Meanwhile, dividend yields of 5.9% and 6.4% for these years merit serious attention from payout chasers, in my opinion.

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Royston Wild has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.