Public Employees Retirement System of Ohio acquired a new position in PulteGroup, Inc. (NYSE:PHM – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 65,183 shares of the construction company’s stock, valued at approximately $8,944,000.
A number of other hedge funds have also added to or reduced their stakes in the business. Cedar Mountain Advisors LLC boosted its stake in shares of PulteGroup by 1,650.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock worth $25,000 after buying an additional 198 shares during the last quarter. NFSG Corp bought a new stake in PulteGroup during the first quarter worth about $29,000. HHM Wealth Advisors LLC grew its stake in PulteGroup by 158.5% in the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. DV Equities LLC acquired a new position in shares of PulteGroup during the 4th quarter worth approximately $32,000. Finally, Lloyd Advisory Services LLC. bought a new stake in shares of PulteGroup during the 4th quarter worth approximately $33,000. Institutional investors own 89.90% of the company’s stock.
Wall Street Analysts Forecast Growth
PHM has been the subject of several analyst reports. Citigroup reissued a “market outperform” rating on shares of PulteGroup in a research note on Tuesday, August 18th. Wells Fargo & Company lifted their price objective on shares of PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Wolfe Research set a $129.00 target price on shares of PulteGroup and gave the company an “outperform” rating in a report on Monday, August 24th. Evercore reiterated an “outperform” rating and set a $162.00 price target on shares of PulteGroup in a report on Thursday, July 23rd. Finally, Oppenheimer restated an “outperform” rating on shares of PulteGroup in a research note on Tuesday, May 26th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and a consensus price target of $142.20.
PulteGroup Stock Down 1.8%
Shares of PHM opened at $126.28 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 12 month low of $108.49 and a 12 month high of $144.49. The firm’s 50 day moving average is $129.53 and its 200-day moving average is $125.48. The stock has a market capitalization of $23.67 billion, a PE ratio of 12.90, a P/E/G ratio of 1.59 and a beta of 1.19.
PulteGroup (NYSE:PHM – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.12. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.94 billion. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.03 earnings per share. Equities research analysts forecast that PulteGroup, Inc. will post 10.12 EPS for the current year.
PulteGroup Company Profile
PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.
PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.
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