Wedge Capital Management L L P NC purchased a new position in PulteGroup, Inc. (NYSE:PHM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 26,628 shares of the construction company’s stock, valued at approximately $842,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Xact Kapitalforvaltning AB boosted its position in shares of PulteGroup by 10.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 57,928 shares of the construction company’s stock worth $1,832,000 after purchasing an additional 5,656 shares in the last quarter. Duality Advisers LP bought a new stake in shares of PulteGroup in the 1st quarter worth approximately $3,273,000. Oregon Public Employees Retirement Fund boosted its position in shares of PulteGroup by 44.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 105,489 shares of the construction company’s stock worth $3,336,000 after purchasing an additional 32,259 shares in the last quarter. SRB Corp boosted its position in shares of PulteGroup by 17.1% in the 1st quarter. SRB Corp now owns 26,311 shares of the construction company’s stock worth $736,000 after purchasing an additional 3,840 shares in the last quarter. Finally, Ibex Wealth Advisors bought a new stake in shares of PulteGroup in the 2nd quarter worth approximately $37,000. 87.07% of the stock is currently owned by hedge funds and other institutional investors.
PHM has been the topic of a number of analyst reports. SunTrust Banks initiated coverage on PulteGroup in a research report on Monday, August 12th. They issued a “buy” rating and a $38.00 price target on the stock. Royal Bank of Canada raised PulteGroup from an “underperform” rating to a “sector perform” rating and boosted their price target for the stock from $29.00 to $33.00 in a research report on Wednesday, July 24th. Zacks Investment Research raised PulteGroup from a “sell” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Thursday, April 25th. Finally, BTIG Research raised PulteGroup from a “sell” rating to a “neutral” rating and set a $31.35 price target on the stock in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $29.60.
PHM stock opened at $32.07 on Friday. The stock has a market capitalization of $8.68 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 1.25 and a beta of 0.72. PulteGroup, Inc. has a 12-month low of $20.64 and a 12-month high of $34.03. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.54. The stock’s 50 day simple moving average is $32.18 and its 200 day simple moving average is $30.25.
PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 23rd. The construction company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.47 billion. PulteGroup had a return on equity of 20.68% and a net margin of 9.23%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 EPS. On average, research analysts predict that PulteGroup, Inc. will post 3.42 earnings per share for the current year.
In other PulteGroup news, Director Brian P. Anderson sold 18,766 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $32.28, for a total transaction of $605,766.48. Following the completion of the sale, the director now directly owns 104,735 shares in the company, valued at approximately $3,380,845.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michelle H. Hairston sold 10,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $31.25, for a total transaction of $312,500.00. Following the sale, the insider now owns 62,933 shares of the company’s stock, valued at $1,966,656.25. The disclosure for this sale can be found here. Insiders sold a total of 54,957 shares of company stock worth $1,788,205 over the last ninety days. 0.49% of the stock is currently owned by insiders.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs 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 brand names.
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