51,602 Shares in PulteGroup, Inc. (PHM) Acquired by Convergence Investment Partners LLC
Convergence Investment Partners LLC acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the second quarter, Holdings Channel reports. The institutional investor acquired 51,602 shares of the construction company’s stock, valued at approximately $1,266,000.
A number of other large investors also recently added to or reduced their stakes in PHM. Trust Department MB Financial Bank N A bought a new stake in PulteGroup during the first quarter worth approximately $129,000. IFP Advisors Inc increased its stake in PulteGroup by 12.0% in the first quarter. IFP Advisors Inc now owns 5,959 shares of the construction company’s stock worth $140,000 after buying an additional 638 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in PulteGroup by 12.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,380 shares of the construction company’s stock worth $150,000 after buying an additional 702 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in PulteGroup during the first quarter worth approximately $155,000. Finally, Acadian Asset Management LLC bought a new stake in PulteGroup during the first quarter worth approximately $197,000. Institutional investors and hedge funds own 88.12% of the company’s stock.
PulteGroup, Inc. (NYSE:PHM) opened at 25.53 on Wednesday. The company’s 50-day moving average price is $24.69 and its 200 day moving average price is $23.37. PulteGroup, Inc. has a 12 month low of $17.69 and a 12 month high of $25.74. The firm has a market capitalization of $7.70 billion, a PE ratio of 14.13 and a beta of 1.14.
PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.03 billion. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS. On average, equities research analysts predict that PulteGroup, Inc. will post $2.09 earnings per share for the current year.
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Several equities research analysts have issued reports on the company. Zacks Investment Research upgraded PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Tuesday, July 4th. Bank of America Corporation restated a “buy” rating and issued a $30.00 price target (up from $29.00) on shares of PulteGroup in a report on Tuesday, June 27th. BidaskClub downgraded PulteGroup from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 13th. Barclays PLC downgraded PulteGroup from an “overweight” rating to an “equal weight” rating and set a $24.00 price target for the company. in a report on Tuesday, July 11th. They noted that the move was a valuation call. Finally, Wedbush upgraded PulteGroup from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $15.00 to $22.00 in a report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.08.
In other PulteGroup news, Director Brian P. Anderson sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was 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 of the company’s stock, valued at approximately $2,520,685.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.
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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