Cerity Partners LLC grew its holdings in PulteGroup, Inc. (NYSE:PHM – Free Report) by 13.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,247 shares of the construction company’s stock after purchasing an additional 1,600 shares during the quarter. Cerity Partners LLC’s holdings in PulteGroup were worth $775,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of PHM. Envestnet Asset Management Inc. lifted its stake in PulteGroup by 977.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,697,956 shares of the construction company’s stock worth $26,756,000 after purchasing an additional 4,262,030 shares in the last quarter. Norges Bank acquired a new stake in shares of PulteGroup during the 4th quarter worth approximately $163,931,000. First Trust Advisors LP increased its holdings in shares of PulteGroup by 29.4% during the 1st quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock worth $203,232,000 after buying an additional 1,101,565 shares during the last quarter. Invesco Ltd. increased its holdings in shares of PulteGroup by 36.3% during the 1st quarter. Invesco Ltd. now owns 3,651,100 shares of the construction company’s stock worth $152,982,000 after buying an additional 972,310 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of PulteGroup during the 4th quarter worth approximately $37,289,000. 89.84% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on PHM shares. Oppenheimer raised their price target on shares of PulteGroup from $94.00 to $110.00 in a report on Wednesday, July 26th. Bank of America raised their price target on shares of PulteGroup from $82.00 to $92.00 in a report on Wednesday, July 26th. Credit Suisse Group raised their price target on shares of PulteGroup from $71.00 to $85.00 in a report on Wednesday, July 26th. Raymond James raised their price target on shares of PulteGroup from $93.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Finally, Citigroup lifted their target price on shares of PulteGroup from $90.00 to $97.00 in a report on Wednesday, July 26th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.27.
PulteGroup Price Performance
PulteGroup stock opened at $82.63 on Monday. The stock has a market cap of $18.13 billion, a P/E ratio of 6.83, a price-to-earnings-growth ratio of 0.67 and a beta of 1.39. The company has a fifty day simple moving average of $80.58 and a 200-day simple moving average of $69.04. PulteGroup, Inc. has a 12-month low of $35.99 and a 12-month 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.
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 for the quarter, beating analysts’ consensus estimates of $2.52 by $0.69. PulteGroup had a net margin of 16.37% and a return on equity of 29.58%. The firm had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the company earned $2.73 earnings per share. PulteGroup’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities analysts expect that PulteGroup, Inc. will post 11.65 EPS for the current fiscal year.
About PulteGroup
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, American West, and John Wieland Homes and Neighborhoods brand names.
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