GAM Holding AG Maintains Stake in PulteGroup, Inc. (PHM)
GAM Holding AG continued to hold its position in PulteGroup, Inc. (NYSE:PHM) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 104,748 shares of the construction company’s stock at the end of the second quarter. GAM Holding AG’s holdings in PulteGroup were worth $2,569,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its position in PulteGroup by 3,521.7% in the first quarter. BlackRock Inc. now owns 22,891,339 shares of the construction company’s stock worth $539,092,000 after buying an additional 22,259,277 shares in the last quarter. Dimensional Fund Advisors LP increased its position in PulteGroup by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 10,423,289 shares of the construction company’s stock worth $245,477,000 after buying an additional 118,739 shares in the last quarter. Renaissance Technologies LLC acquired a new position in PulteGroup during the first quarter worth about $92,466,000. Geode Capital Management LLC increased its position in PulteGroup by 7.1% in the first quarter. Geode Capital Management LLC now owns 3,035,549 shares of the construction company’s stock worth $71,394,000 after buying an additional 201,626 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in PulteGroup by 0.4% in the first quarter. Alliancebernstein L.P. now owns 2,641,240 shares of the construction company’s stock worth $62,201,000 after buying an additional 9,952 shares in the last quarter. Hedge funds and other institutional investors own 85.82% of the company’s stock.
Shares of PulteGroup, Inc. (PHM) opened at 25.30 on Tuesday. The firm has a 50-day moving average of $24.88 and a 200 day moving average of $23.57. PulteGroup, Inc. has a 52 week low of $17.69 and a 52 week high of $26.00. The firm has a market capitalization of $7.63 billion, a P/E ratio of 14.00 and a beta of 1.14.
PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, July 25th. The construction company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.03 billion. PulteGroup had a net margin of 7.35% and a return on equity of 13.43%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 earnings per share. On average, equities research analysts expect that PulteGroup, Inc. will post $2.09 EPS for the current fiscal year.
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A number of equities analysts have recently issued reports on PHM shares. Zacks Investment Research downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. UBS AG downgraded shares of PulteGroup from a “positive” rating to a “neutral” rating in a research note on Wednesday, July 26th. Wedbush reiterated an “underperform” rating and set a $15.00 price objective on shares of PulteGroup in a research note on Tuesday, May 9th. Susquehanna Bancshares Inc downgraded shares of PulteGroup from a “positive” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research note on Wednesday, July 26th. Finally, Credit Suisse Group started coverage on shares of PulteGroup in a research note on Thursday, June 22nd. They set an “outperform” rating and a $27.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $25.08.
In related news, Director Brian P. Anderson sold 14,000 shares of PulteGroup stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $23.18, for a total value of $324,520.00. Following the completion of the sale, the director now owns 108,744 shares in the company, valued at $2,520,685.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.71% of the stock is currently owned by insiders.
PulteGroup Company Profile
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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