UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in PulteGroup, Inc. (NYSE:PHM – Free Report) by 7.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,438,684 shares of the construction company’s stock after selling 111,046 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in PulteGroup were worth $197,402,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Focus Partners Wealth raised its position in shares of PulteGroup by 20.5% during the first quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock worth $1,287,000 after acquiring an additional 2,128 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in PulteGroup by 197.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock valued at $128,000 after acquiring an additional 804 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in PulteGroup by 12.9% in the second quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock valued at $898,000 after acquiring an additional 975 shares during the last quarter. Baird Financial Group Inc. increased its position in PulteGroup by 8.0% in the second quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock worth $3,065,000 after purchasing an additional 2,164 shares during the period. Finally, Cerity Partners LLC increased its position in PulteGroup by 17.6% in the second quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock worth $4,395,000 after purchasing an additional 6,240 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Royal Bank Of Canada upped their target price on shares of PulteGroup from $115.00 to $116.00 and gave the company a “sector perform” rating in a research report on Thursday, July 23rd. Weiss Ratings upgraded shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Oppenheimer reissued an “outperform” rating on shares of PulteGroup in a research note on Tuesday, May 26th. Wolfe Research set a $129.00 price objective on shares of PulteGroup and gave the company an “outperform” rating in a report on Monday, August 24th. Finally, Wells Fargo & Company raised their price objective on shares of PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and an average price target of $142.20.
PulteGroup Price Performance
PulteGroup stock 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. The firm has a market capitalization of $23.67 billion, a P/E ratio of 12.90, a PEG ratio of 1.59 and a beta of 1.19. The business has a 50-day moving average of $129.53 and a 200-day moving average of $125.48. PulteGroup, Inc. has a 1 year low of $108.49 and a 1 year high of $144.49.
PulteGroup (NYSE:PHM – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.12. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the company posted $3.03 EPS. PulteGroup’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, equities analysts anticipate that PulteGroup, Inc. will post 10.12 EPS for the current year.
About PulteGroup
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.
Featured Stories
- Five stocks we like better than PulteGroup
- Securing AI: 5 Most-Upgraded Stocks From the Q2 Reporting Season
- Insiders Are Betting Big on These 3 Healthcare Stocks
- 3 Stocks for Investors Who Still Believe Cash Is King
- Dollar General and Dollar Tree Are Recovering, But Not for the Same Reason
Want to see what other hedge funds are holding PHM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PulteGroup, Inc. (NYSE:PHM – Free Report).
Receive News & Ratings for PulteGroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PulteGroup and related companies with MarketBeat.com's FREE daily email newsletter.
