Municipal Employees Retirement System of Michigan Has $763,000 Position in PulteGroup, Inc. (NYSE:PHM)
Municipal Employees Retirement System of Michigan maintained its stake in shares of PulteGroup, Inc. (NYSE:PHM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,130 shares of the construction company’s stock at the end of the second quarter. Municipal Employees Retirement System of Michigan’s holdings in PulteGroup were worth $763,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Trust Department MB Financial Bank N A bought a new stake in shares of PulteGroup during the first quarter worth approximately $129,000. IFP Advisors Inc boosted its stake in shares of 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 during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 during the period. Ameritas Investment Partners Inc. bought a new stake in shares of PulteGroup during the first quarter worth approximately $155,000. Finally, Acadian Asset Management LLC bought a new stake in shares of PulteGroup during the first quarter worth approximately $197,000. 88.12% of the stock is owned by institutional investors and hedge funds.
Shares of PulteGroup, Inc. (NYSE PHM) opened at 25.39 on Tuesday. The firm has a 50-day moving average price of $24.65 and a 200 day moving average price of $23.34. PulteGroup, Inc. has a 1-year low of $17.69 and a 1-year high of $25.74. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 14.05 and a beta of 1.14.
PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. PulteGroup had a net margin of 7.35% and a return on equity of 13.43%. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the firm earned $0.37 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, analysts predict that PulteGroup, Inc. will post $2.09 EPS for the current fiscal year.
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A number of research firms have issued reports on PHM. BidaskClub cut PulteGroup from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Susquehanna Bancshares Inc cut PulteGroup from a “positive” rating to a “neutral” rating and set a $26.00 target price for the company. in a research note on Wednesday, July 26th. Zacks Investment Research cut PulteGroup from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. UBS AG cut PulteGroup from a “positive” rating to a “neutral” rating in a research note on Wednesday, July 26th. Finally, Wedbush raised PulteGroup from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $15.00 to $22.00 in a research note on Thursday, July 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. PulteGroup presently has an average rating of “Hold” and an average price target of $25.08.
In other PulteGroup news, Director Brian P. Anderson sold 14,000 shares of PulteGroup stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $23.18, for a total transaction of $324,520.00. Following the transaction, the director now owns 108,744 shares of the company’s stock, valued at approximately $2,520,685.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.71% of the stock is owned by company 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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