Icon Advisers Inc. Co. decreased its stake in PulteGroup, Inc. (NYSE:PHM) by 26.0% during the third quarter, Holdings Channel reports. The institutional investor owned 511,718 shares of the construction company’s stock after selling 180,012 shares during the quarter. PulteGroup makes up approximately 1.1% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its 24th largest position. Icon Advisers Inc. Co.’s holdings in PulteGroup were worth $12,675,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new position in PulteGroup during the second quarter worth approximately $112,000. Rehmann Capital Advisory Group lifted its position in shares of PulteGroup by 54.9% in the second quarter. Rehmann Capital Advisory Group now owns 6,187 shares of the construction company’s stock valued at $178,000 after acquiring an additional 2,193 shares in the last quarter. Raymond James Trust N.A. purchased a new position in shares of PulteGroup in the second quarter valued at approximately $232,000. Segall Bryant & Hamill LLC purchased a new position in shares of PulteGroup in the second quarter valued at approximately $232,000. Finally, We Are One Seven LLC purchased a new position in shares of PulteGroup in the third quarter valued at approximately $284,000. Hedge funds and other institutional investors own 87.23% of the company’s stock.
In other news, Director Brian P. Anderson sold 5,000 shares of PulteGroup stock in a transaction on Monday, August 27th. The stock was sold at an average price of $28.96, for a total value of $144,800.00. Following the completion of the sale, the director now directly owns 101,235 shares of the company’s stock, valued at $2,931,765.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.86% of the company’s stock.
PHM stock opened at $24.89 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.64. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 0.38 and a beta of 0.92. PulteGroup, Inc. has a 52-week low of $20.64 and a 52-week high of $35.21.
PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 23rd. The construction company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.62 billion. PulteGroup had a return on equity of 21.98% and a net margin of 8.63%. The firm’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. As a group, equities research analysts anticipate that PulteGroup, Inc. will post 3.58 earnings per share for the current fiscal year.
Several research firms have recently weighed in on PHM. Wedbush restated a “neutral” rating on shares of PulteGroup in a research report on Monday, July 16th. Citigroup raised their target price on PulteGroup from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, July 23rd. BTIG Research downgraded PulteGroup from a “neutral” rating to a “sell” rating in a research report on Friday, July 27th. They noted that the move was a valuation call. Mizuho downgraded PulteGroup from a “buy” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research report on Tuesday, August 7th. Finally, ValuEngine downgraded PulteGroup from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $31.13.
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PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.
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