Municipal Employees Retirement System of Michigan continued to hold its stake in shares of PulteGroup, Inc. (NYSE:PHM) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 31,130 shares of the construction company’s stock at the end of the second quarter. Municipal Employees Retirement System of Michigan’s holdings in PulteGroup were worth $763,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Boston Advisors LLC purchased a new stake in shares of PulteGroup during the first quarter worth about $17,839,000. Patten & Patten Inc. TN boosted its stake in shares of PulteGroup by 6.9% in the first quarter. Patten & Patten Inc. TN now owns 580,675 shares of the construction company’s stock worth $13,675,000 after buying an additional 37,270 shares during the last quarter. Bank of The West boosted its stake in shares of PulteGroup by 2.1% in the first quarter. Bank of The West now owns 18,911 shares of the construction company’s stock worth $445,000 after buying an additional 382 shares during the last quarter. DnB Asset Management AS boosted its stake in shares of PulteGroup by 25.1% in the first quarter. DnB Asset Management AS now owns 22,900 shares of the construction company’s stock worth $539,000 after buying an additional 4,600 shares during the last quarter. Finally, Telemus Capital LLC purchased a new stake in shares of PulteGroup during the first quarter worth about $220,000. Institutional investors and hedge funds own 88.12% of the company’s stock.

Shares of PulteGroup, Inc. (PHM) opened at 25.39 on Tuesday. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 14.05 and a beta of 1.14. PulteGroup, Inc. has a 12 month low of $17.69 and a 12 month high of $25.74. The firm has a 50-day moving average price of $24.65 and a 200 day moving average price of $23.34.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.03 billion. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. PulteGroup’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. On average, analysts anticipate that PulteGroup, Inc. will post $2.09 EPS for the current fiscal year.

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A number of brokerages have recently issued reports on PHM. Barclays PLC cut PulteGroup from an “overweight” rating to an “equal weight” rating and set a $24.00 target price for the company. in a report on Tuesday, July 11th. They noted that the move was a valuation call. Mizuho cut PulteGroup from a “neutral” rating to an “underperform” rating and set a $22.00 price target for the company. in a report on Monday, July 10th. Wedbush restated a “neutral” rating and issued a $22.00 price target on shares of PulteGroup in a report on Tuesday, July 25th. UBS AG cut PulteGroup from a “positive” rating to a “neutral” rating in a report on Wednesday, July 26th. Finally, Susquehanna Bancshares Inc cut PulteGroup from a “positive” rating to a “neutral” rating and set a $26.00 price target for the company. in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $25.08.

In related news, Director Brian P. Anderson sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total transaction of $324,520.00. Following the completion of the transaction, the director now owns 108,744 shares in the company, valued at approximately $2,520,685.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is owned by company insiders.

About PulteGroup

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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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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