J. Safra Sarasin Holding AG Sells 158,852 Shares of PulteGroup, Inc. (NYSE:PHM)

J. Safra Sarasin Holding AG lowered its holdings in PulteGroup, Inc. (NYSE:PHM) by 88.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,093 shares of the construction company’s stock after selling 158,852 shares during the period. J. Safra Sarasin Holding AG’s holdings in PulteGroup were worth $2,066,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Ameriflex Group Inc. purchased a new position in PulteGroup in the 4th quarter worth approximately $37,000. TD Waterhouse Canada Inc. raised its position in PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock valued at $38,000 after purchasing an additional 105 shares in the last quarter. American National Bank & Trust bought a new position in shares of PulteGroup during the 1st quarter valued at about $39,000. Quarry LP bought a new position in shares of PulteGroup during the fourth quarter valued at about $43,000. Finally, Catalyst Capital Advisors LLC purchased a new position in PulteGroup in the 1st quarter worth approximately $54,000. Institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barclays lowered their price target on shares of PulteGroup from $100.00 to $98.00 and set an “equal weight” rating for the company in a report on Wednesday, April 23rd. Raymond James Financial reissued an “outperform” rating and issued a $140.00 target price (up from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. Evercore ISI upped their price target on PulteGroup from $161.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 23rd. Seaport Res Ptn upgraded PulteGroup from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.15.

PulteGroup Stock Up 3.4%

Shares of NYSE:PHM opened at $116.75 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $106.92 and a two-hundred day simple moving average of $105.21. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The stock has a market capitalization of $23.03 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 0.34 and a beta of 1.22.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.11. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. PulteGroup’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.83 EPS. On average, research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.