PulteGroup, Inc. (NYSE:PHM) Position Reduced by Sumitomo Mitsui Asset Management Company LTD
Sumitomo Mitsui Asset Management Company LTD decreased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 24,835 shares of the construction company’s stock after selling 111 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in PulteGroup were worth $609,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Trust Department MB Financial Bank N A purchased a new stake in shares of PulteGroup during the first quarter worth approximately $129,000. IFP Advisors Inc increased 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 in the last quarter. Northwestern Mutual Wealth Management Co. increased 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 in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of PulteGroup during the first quarter worth approximately $155,000. Finally, Thrivent Financial for Lutherans increased its stake in shares of PulteGroup by 1.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,162 shares of the construction company’s stock worth $187,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 92.52% of the company’s stock.
PulteGroup, Inc. (NYSE:PHM) opened at 25.31 on Thursday. PulteGroup, Inc. has a one year low of $17.69 and a one year high of $25.74. The stock has a 50 day moving average price of $24.58 and a 200-day moving average price of $23.21. The firm has a market capitalization of $7.64 billion, a PE ratio of 14.01 and a beta of 1.14. PulteGroup also was the target of some unusual options trading activity on Tuesday. Investors bought 29,638 put options on the stock. This represents an increase of 1,131% compared to the typical volume of 2,408 put options.
PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, beating the 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 business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $0.37 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts forecast that PulteGroup, Inc. will post $2.09 earnings per share for the current year.
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A number of analysts have commented on PHM shares. Zacks Investment Research upgraded PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Tuesday, July 4th. Bank of America Corporation reiterated a “buy” rating and issued a $30.00 price objective (up previously from $29.00) on shares of PulteGroup in a research report on Tuesday, June 27th. BidaskClub downgraded PulteGroup from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 13th. Barclays PLC downgraded PulteGroup from an “overweight” rating to an “equal weight” rating and set a $24.00 price objective for the company. in a research 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 raised their price objective for the stock from $15.00 to $22.00 in a research report on Thursday, July 13th. One 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. The company currently has an average rating of “Hold” and a consensus 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 shares were sold at an average price of $23.18, for a total transaction of $324,520.00. Following the completion of the transaction, the director now directly owns 108,744 shares in the company, valued at $2,520,685.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by insiders.
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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