Pitcairn Co. Cuts Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Pitcairn Co. lessened its holdings in PulteGroup, Inc. (NYSE:PHM) by 15.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,504 shares of the construction company’s stock after selling 1,521 shares during the period. Pitcairn Co.’s holdings in PulteGroup were worth $290,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of PulteGroup in the 1st quarter valued at $384,000. AXA raised its stake in shares of PulteGroup by 13.5% in the 1st quarter. AXA now owns 1,065,100 shares of the construction company’s stock valued at $23,773,000 after acquiring an additional 126,500 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of PulteGroup by 181.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 311,813 shares of the construction company’s stock valued at $6,960,000 after acquiring an additional 200,962 shares during the period. Regentatlantic Capital LLC raised its stake in shares of PulteGroup by 66.0% in the 1st quarter. Regentatlantic Capital LLC now owns 90,431 shares of the construction company’s stock valued at $2,018,000 after acquiring an additional 35,947 shares during the period. Finally, Two Sigma Advisers LP raised its stake in shares of PulteGroup by 19.4% in the 1st quarter. Two Sigma Advisers LP now owns 1,180,600 shares of the construction company’s stock valued at $26,351,000 after acquiring an additional 191,800 shares during the period. 84.95% of the stock is currently owned by institutional investors and hedge funds.

NYSE PHM opened at $43.60 on Friday. PulteGroup, Inc. has a one year low of $17.12 and a one year high of $47.37. The company has a 50-day simple moving average of $36.09 and a 200-day simple moving average of $34.65. 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 firm has a market capitalization 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 (NYSE:PHM) last posted its quarterly earnings results on Thursday, July 23rd. The construction company reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.31. PulteGroup had a net margin of 10.94% and a return on equity of 20.10%. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same period in the previous year, the business posted $0.86 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that PulteGroup, Inc. will post 4.14 earnings per share for the current year.

A number of research firms recently weighed in on PHM. Royal Bank of Canada reaffirmed a “hold” rating on shares of PulteGroup in a report on Thursday. JPMorgan Chase & Co. raised shares of PulteGroup from a “neutral” rating to an “overweight” rating and set a $41.00 price target for the company in a report on Thursday, June 11th. They noted that the move was a valuation call. Zacks Investment Research raised shares of PulteGroup from a “hold” rating to a “strong-buy” rating and set a $46.00 price target for the company in a report on Tuesday, July 28th. TheStreet raised shares of PulteGroup from a “c+” rating to a “b-” rating in a report on Tuesday, June 2nd. Finally, Credit Suisse Group raised their price target on shares of PulteGroup from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, July 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $42.76.

PulteGroup Company 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.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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