Penserra Capital Management LLC Purchases 596 Shares of PulteGroup, Inc. (NYSE:PHM)
Penserra Capital Management LLC boosted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 25.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,980 shares of the construction company’s stock after acquiring an additional 596 shares during the period. Penserra Capital Management LLC’s holdings in PulteGroup were worth $108,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of PHM. Marshall Wace LLP acquired a new position in shares of PulteGroup during the first quarter worth $111,000. Artemis Investment Management LLP purchased a new position in PulteGroup during the 2nd quarter worth $24,836,000. Rothschild & Co. Asset Management US Inc. acquired a new position in PulteGroup during the 2nd quarter valued at about $10,168,000. Atlas Capital Advisors LLC increased its position in PulteGroup by 349.9% during the 2nd quarter. Atlas Capital Advisors LLC now owns 7,589 shares of the construction company’s stock valued at $240,000 after buying an additional 5,902 shares in the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new position in PulteGroup during the 2nd quarter valued at about $5,983,000. 86.08% of the stock is owned by institutional investors.
Shares of PHM opened at $39.14 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a 50-day moving average of $39.04 and a two-hundred day moving average of $34.65. The stock has a market cap of $10.75 billion, a P/E ratio of 10.90, a P/E/G ratio of 1.39 and a beta of 0.61. PulteGroup, Inc. has a one year low of $24.45 and a one year high of $41.22.
In related news, SVP James L. Ossowski sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $39.95, for a total value of $399,500.00. Following the sale, the senior vice president now owns 25,750 shares in the company, valued at $1,028,712.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.49% of the company’s stock.
Several brokerages have weighed in on PHM. Royal Bank of Canada set a $33.00 price target on PulteGroup and gave the stock a “hold” rating in a report on Monday, August 26th. Zacks Investment Research upgraded shares of PulteGroup from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a report on Wednesday, October 23rd. Seaport Global Securities lowered shares of PulteGroup from a “buy” rating to a “neutral” rating in a research report on Monday, November 4th. ValuEngine cut shares of PulteGroup from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, SunTrust Banks initiated coverage on shares of PulteGroup in a research note on Monday, August 12th. They issued a “buy” rating and a $38.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $35.62.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.
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