Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $2.23 Million Stock Position in PulteGroup, Inc. (NYSE:PHM)

Posted by Defense World Staff on Aug 18th, 2023

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in shares of PulteGroup, Inc. (NYSE:PHM – Free Report) by 0.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,244 shares of the construction company’s stock after selling 265 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in PulteGroup were worth $2,229,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PHM. CVA Family Office LLC grew its position in shares of PulteGroup by 222.9% in the 4th quarter. CVA Family Office LLC now owns 565 shares of the construction company’s stock valued at $26,000 after buying an additional 390 shares during the last quarter. Arlington Partners LLC bought a new stake in shares of PulteGroup in the 1st quarter valued at about $26,000. Coppell Advisory Solutions Corp. bought a new stake in shares of PulteGroup in the 4th quarter valued at about $26,000. ST Germain D J Co. Inc. bought a new stake in shares of PulteGroup in the 4th quarter valued at about $31,000. Finally, Headlands Technologies LLC bought a new stake in shares of PulteGroup in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

PulteGroup Trading Down 4.6 %

NYSE PHM opened at $78.78 on Friday. PulteGroup, Inc. has a 1-year low of $35.99 and a 1-year high of $86.15. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average of $79.25 and a 200-day moving average of $67.06. The firm has a market cap of $17.29 billion, a PE ratio of 6.51, a price-to-earnings-growth ratio of 0.67 and a beta of 1.38.

PulteGroup (NYSE:PHM – Get Free Report) last announced its quarterly earnings results 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. PulteGroup had a return on equity of 29.58% and a net margin of 16.37%. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the business earned $2.73 EPS. PulteGroup’s revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts forecast that PulteGroup, Inc. will post 11.65 EPS for the current year.

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

Analysts Set New Price Targets

PHM has been the topic of several research analyst reports. Oppenheimer upped their target price on PulteGroup from $94.00 to $110.00 in a research report on Wednesday, July 26th. StockNews.com began coverage on PulteGroup in a research note on Thursday. They set a “buy” rating for the company. Citigroup increased their price target on PulteGroup from $90.00 to $97.00 in a report on Wednesday, July 26th. Barclays raised their target price on PulteGroup from $90.00 to $104.00 in a report on Wednesday, July 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on PulteGroup in a report on Wednesday, May 31st. They issued a “buy” rating and a $95.00 target price on the stock. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.27.

View Our Latest Research Report on PHM

About PulteGroup

(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.