PulteGroup, Inc. (NYSE:PHM) Stock Holdings Lessened by Global Retirement Partners LLC

Posted by Defense World Staff on Aug 12th, 2023

Global Retirement Partners LLC trimmed its stake in PulteGroup, Inc. (NYSE:PHM – Free Report) by 11.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,321 shares of the construction company’s stock after selling 314 shares during the quarter. Global Retirement Partners LLC’s holdings in PulteGroup were worth $154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. CWM LLC raised its position in PulteGroup by 12.4% during the fourth quarter. CWM LLC now owns 2,433 shares of the construction company’s stock valued at $111,000 after acquiring an additional 268 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in PulteGroup by 11.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 144,076 shares of the construction company’s stock valued at $6,560,000 after acquiring an additional 14,572 shares in the last quarter. KBC Group NV raised its position in PulteGroup by 125.8% during the first quarter. KBC Group NV now owns 109,600 shares of the construction company’s stock valued at $6,387,000 after acquiring an additional 61,064 shares in the last quarter. Patton Fund Management Inc. bought a new position in PulteGroup during the fourth quarter valued at approximately $203,000. Finally, Itau Unibanco Holding S.A. bought a new position in PulteGroup during the fourth quarter valued at approximately $103,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on PHM. Barclays increased their price target on PulteGroup from $90.00 to $104.00 in a report on Wednesday, July 26th. Seaport Res Ptn reiterated a “buy” rating on shares of PulteGroup in a report on Wednesday, June 14th. Oppenheimer increased their price target on PulteGroup from $94.00 to $110.00 in a report on Wednesday, July 26th. Royal Bank of Canada raised their price objective on shares of PulteGroup from $68.00 to $90.00 in a research note on Wednesday, July 26th. Finally, Raymond James raised their price objective on shares of PulteGroup from $93.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.27.

View Our Latest Stock Report on PulteGroup

PulteGroup Stock Down 0.3 %

PHM opened at $82.70 on Friday. PulteGroup, Inc. has a fifty-two week low of $35.99 and a fifty-two week high of $86.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.92 and a quick ratio of 0.92. The firm’s fifty day moving average price is $78.23 and its two-hundred day moving average price is $66.08. The company has a market capitalization of $18.15 billion, a P/E ratio of 6.83, a P/E/G ratio of 0.69 and a beta of 1.38.

PulteGroup (NYSE:PHM – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The construction company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.69. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.01 billion. PulteGroup had a return on equity of 29.58% and a net margin of 16.37%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $2.73 earnings per share. On average, analysts anticipate that PulteGroup, Inc. will post 11.65 EPS for the current year.

PulteGroup declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 25th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

PulteGroup Company Profile

(Free Report)

PulteGroup, Inc engages in the homebuilding business. The firm is also involved in mortgage banking and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment includes operations from Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington.