Victory Capital Management Inc. Boosts Position in PulteGroup, Inc. (PHM)
Victory Capital Management Inc. increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 307.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 779,202 shares of the construction company’s stock after acquiring an additional 588,086 shares during the period. Victory Capital Management Inc. owned approximately 0.26% of PulteGroup worth $19,114,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. boosted its stake in PulteGroup by 3,521.7% during the first quarter. BlackRock Inc. now owns 22,891,339 shares of the construction company’s stock worth $539,092,000 after acquiring an additional 22,259,277 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in PulteGroup by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 10,423,289 shares of the construction company’s stock worth $245,477,000 after acquiring an additional 118,739 shares in the last quarter. Renaissance Technologies LLC bought a new stake in PulteGroup during the first quarter worth about $92,466,000. Geode Capital Management LLC boosted its stake in PulteGroup by 7.1% during the first quarter. Geode Capital Management LLC now owns 3,035,549 shares of the construction company’s stock worth $71,394,000 after acquiring an additional 201,626 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in PulteGroup by 0.4% during the first quarter. Alliancebernstein L.P. now owns 2,641,240 shares of the construction company’s stock worth $62,201,000 after acquiring an additional 9,952 shares in the last quarter. 85.80% of the stock is currently owned by institutional investors and hedge funds.
In other PulteGroup news, Director Brian P. Anderson sold 14,000 shares of PulteGroup stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $23.18, for a total transaction of $324,520.00. Following the completion of the sale, the director now directly owns 108,744 shares in the company, valued at approximately $2,520,685.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.71% of the company’s stock.
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Shares of PulteGroup, Inc. (PHM) opened at 25.87 on Monday. The stock has a market capitalization of $7.81 billion, a PE ratio of 14.32 and a beta of 1.08. The firm’s 50-day moving average is $25.01 and its 200-day moving average is $23.71. PulteGroup, Inc. has a one year low of $17.69 and a one year high of $26.05.
PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. PulteGroup had a net margin of 7.35% and a return on equity of 13.43%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the business posted $0.37 EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, analysts expect that PulteGroup, Inc. will post $2.09 earnings per share for the current fiscal year.
Several equities research analysts recently commented on PHM shares. Bank of America Corporation reissued a “buy” rating and set a $30.00 price objective (up previously from $29.00) on shares of PulteGroup in a research note on Tuesday, June 27th. Credit Suisse Group assumed coverage on shares of PulteGroup in a research note on Thursday, June 22nd. They issued an “outperform” rating and a $27.00 target price on the stock. Zacks Investment Research upgraded shares of PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Tuesday, July 4th. 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 research note on Monday, July 10th. 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 research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $25.08.
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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