Danske Bank A S Takes $6.23 Million Position in PulteGroup, Inc. $PHM

Danske Bank A S bought a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the second quarter, according to its most recent filing with the SEC. The fund bought 45,428 shares of the construction company’s stock, valued at approximately $6,233,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cedar Mountain Advisors LLC boosted its stake in PulteGroup by 1,650.0% in the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. NFSG Corp bought a new position in shares of PulteGroup during the 1st quarter valued at approximately $29,000. Rachor Investment Advisory Services LLC purchased a new stake in shares of PulteGroup during the 4th quarter worth approximately $31,000. HHM Wealth Advisors LLC increased its stake in shares of PulteGroup by 158.5% during the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock worth $32,000 after purchasing an additional 168 shares during the last quarter. Finally, DV Equities LLC bought a new stake in shares of PulteGroup in the 4th quarter worth approximately $32,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on PHM. Barclays upped their price objective on PulteGroup from $123.00 to $124.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. UBS Group reissued a “buy” rating and issued a $166.00 target price on shares of PulteGroup in a research report on Thursday, July 23rd. Evercore restated an “outperform” rating and issued a $162.00 target price on shares of PulteGroup in a research note on Thursday, July 23rd. Citigroup reaffirmed a “market outperform” rating on shares of PulteGroup in a research report on Tuesday. Finally, Royal Bank Of Canada increased their price target on PulteGroup from $115.00 to $116.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and an average target price of $143.14.

PulteGroup Stock Up 1.0%

Shares of NYSE PHM opened at $129.00 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14. The company has a market cap of $24.18 billion, a P/E ratio of 13.18, a P/E/G ratio of 1.58 and a beta of 1.19. PulteGroup, Inc. has a 52 week low of $108.49 and a 52 week high of $144.49. The business has a 50-day simple moving average of $129.05 and a two-hundred day simple moving average of $125.70.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the prior year, the business posted $3.03 earnings per share. The company’s revenue was down 9.6% on a year-over-year basis. Research analysts anticipate that PulteGroup, Inc. will post 10.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Matthew William Koart sold 7,457 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $120.00, for a total transaction of $894,840.00. Following the sale, the chief operating officer owned 28,100 shares of the company’s stock, valued at approximately $3,372,000. This represents a 20.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

About PulteGroup

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.