Tower Research Capital LLC TRC Has $756,000 Holdings in PulteGroup, Inc. (NYSE:PHM)

Posted by Defense World Staff on Aug 19th, 2023

Tower Research Capital LLC TRC increased its holdings in PulteGroup, Inc. (NYSE:PHM – Free Report) by 177.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,979 shares of the construction company’s stock after buying an additional 8,309 shares during the period. Tower Research Capital LLC TRC’s holdings in PulteGroup were worth $756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PHM. Norges Bank acquired a new stake in shares of PulteGroup in the fourth quarter valued at approximately $163,931,000. First Trust Advisors LP raised its position in shares of PulteGroup by 29.4% in the first quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock valued at $203,232,000 after buying an additional 1,101,565 shares in the last quarter. Invesco Ltd. raised its position in shares of PulteGroup by 36.3% in the first quarter. Invesco Ltd. now owns 3,651,100 shares of the construction company’s stock valued at $152,982,000 after buying an additional 972,310 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of PulteGroup in the fourth quarter valued at approximately $37,289,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of PulteGroup in the first quarter valued at approximately $43,131,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PHM has been the subject of a number of analyst reports. Barclays lifted their price target on shares of PulteGroup from $90.00 to $104.00 in a research report on Wednesday, July 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of PulteGroup in a research note on Wednesday, May 31st. They issued a “buy” rating and a $95.00 price objective on the stock. Bank of America lifted their price objective on shares of PulteGroup from $82.00 to $92.00 in a research note on Wednesday, July 26th. BTIG Research lifted their price objective on shares of PulteGroup from $83.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Finally, StockNews.com assumed coverage on shares of PulteGroup in a research note on Thursday. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price of $86.27.

Read Our Latest Research Report on PHM

PulteGroup Stock Performance

NYSE PHM opened at $79.30 on Friday. The firm’s fifty day moving average price is $79.40 and its two-hundred day moving average price is $67.14. The stock has a market cap of $17.40 billion, a PE ratio of 6.55, a PEG ratio of 0.64 and a beta of 1.38. 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 quick ratio of 0.92 and a current ratio of 0.92.

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

PulteGroup declared that its Board of Directors has approved a share repurchase program 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 programs are usually 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.