CIBC Asset Management Inc Has $1.71 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

CIBC Asset Management Inc raised its position in PulteGroup, Inc. (NYSE:PHM) by 4.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 50,378 shares of the construction company’s stock after acquiring an additional 2,174 shares during the period. CIBC Asset Management Inc’s holdings in PulteGroup were worth $1,714,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC grew its stake in PulteGroup by 77.9% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 886 shares of the construction company’s stock valued at $30,000 after acquiring an additional 388 shares during the period. Verus Capital Partners LLC purchased a new position in shares of PulteGroup during the fourth quarter valued at approximately $35,000. Lenox Wealth Management Inc. bought a new stake in PulteGroup during the first quarter worth $35,000. Tsfg LLC bought a new stake in PulteGroup during the second quarter worth $55,000. Finally, FinTrust Capital Advisors LLC lifted its holdings in PulteGroup by 110.1% during the first quarter. FinTrust Capital Advisors LLC now owns 1,645 shares of the construction company’s stock worth $37,000 after acquiring an additional 862 shares during the period. 84.95% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on PHM. Credit Suisse Group lifted their price target on PulteGroup from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. TheStreet upgraded PulteGroup from a “c+” rating to a “b-” rating in a report on Tuesday, June 2nd. Citigroup lifted their price target on PulteGroup from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. ValuEngine lowered PulteGroup from a “sell” rating to a “strong sell” rating in a report on Thursday, July 2nd. Finally, SunTrust Banks lifted their price target on PulteGroup from $27.00 to $32.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. PulteGroup currently has an average rating of “Hold” and a consensus target price of $42.76.

Shares of NYSE PHM opened at $43.60 on Friday. The stock has a market cap of $11.69 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 1.12 and a beta of 1.34. PulteGroup, Inc. has a fifty-two week low of $17.12 and a fifty-two week high of $47.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a fifty day moving average of $36.09 and a 200-day moving average of $34.65.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, July 23rd. The construction company reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.31. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.53 billion. PulteGroup had a return on equity of 20.10% and a net margin of 10.94%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. On average, sell-side analysts predict that PulteGroup, Inc. will post 4.14 EPS for the current year.

PulteGroup Profile

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.

Featured Story: Backdoor Roth IRA Conversion and Strategy

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).

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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.