PulteGroup, Inc. (NYSE:PHM) Stake Raised by BTC Capital Management Inc.
BTC Capital Management Inc. boosted its stake in PulteGroup, Inc. (NYSE:PHM) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 137,099 shares of the construction company’s stock after buying an additional 2,518 shares during the period. BTC Capital Management Inc.’s holdings in PulteGroup were worth $3,368,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PHM. Trust Department MB Financial Bank N A purchased a new position in PulteGroup during the first quarter valued at $129,000. IFP Advisors Inc raised its position in PulteGroup by 12.0% in the first quarter. IFP Advisors Inc now owns 5,959 shares of the construction company’s stock valued at $140,000 after buying an additional 638 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in PulteGroup by 12.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,380 shares of the construction company’s stock valued at $150,000 after buying an additional 702 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in PulteGroup during the first quarter valued at $155,000. Finally, Thrivent Financial for Lutherans increased its stake in shares of PulteGroup by 1.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,162 shares of the construction company’s stock valued at $187,000 after buying an additional 110 shares during the period. 92.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of PulteGroup, Inc. (NYSE:PHM) opened at 24.78 on Friday. The stock has a 50 day moving average of $24.59 and a 200-day moving average of $23.22. PulteGroup, Inc. has a 12-month low of $17.69 and a 12-month high of $25.74. The firm has a market capitalization of $7.48 billion, a P/E ratio of 13.71 and a beta of 1.14. PulteGroup also saw unusually large options trading on Tuesday. Investors acquired 29,638 put options on the stock. This is an increase of approximately 1,131% compared to the average daily volume of 2,408 put options.
PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, July 25th. The construction company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $0.37 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities research analysts predict that PulteGroup, Inc. will post $2.09 EPS for the current fiscal year.
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Several brokerages have commented on PHM. Barclays PLC downgraded shares of PulteGroup from an “overweight” rating to an “equal weight” rating and set a $24.00 target price on the stock. in a report on Tuesday, July 11th. They noted that the move was a valuation call. Mizuho downgraded shares of PulteGroup from a “neutral” rating to an “underperform” rating and set a $22.00 target price on the stock. in a report on Monday, July 10th. Wedbush restated a “neutral” rating and set a $22.00 target price on shares of PulteGroup in a report on Tuesday, July 25th. UBS AG downgraded shares of PulteGroup from a “positive” rating to a “neutral” rating in a report on Wednesday, July 26th. Finally, Susquehanna Bancshares Inc downgraded shares of PulteGroup from a “positive” rating to a “neutral” rating and set a $26.00 target price on the stock. in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $25.08.
In related news, Director Brian P. Anderson sold 14,000 shares of PulteGroup stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total value of $324,520.00. Following the completion of the sale, the director now owns 108,744 shares of the company’s stock, valued at approximately $2,520,685.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.71% of the company’s stock.
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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