PulteGroup, Inc. (NYSE:PHM) Position Reduced by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC decreased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 44.0% during the second quarter, Holdings Channel reports. The firm owned 1,404,926 shares of the construction company’s stock after selling 1,103,900 shares during the period. Wedge Capital Management L L P NC’s holdings in PulteGroup were worth $34,463,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its stake in shares of PulteGroup by 3,521.7% in the first quarter. BlackRock Inc. now owns 22,891,339 shares of the construction company’s stock valued at $539,092,000 after buying an additional 22,259,277 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of PulteGroup by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 10,423,289 shares of the construction company’s stock valued at $245,477,000 after buying an additional 118,739 shares during the period. Greenhaven Associates Inc. increased its stake in shares of PulteGroup by 0.6% in the first quarter. Greenhaven Associates Inc. now owns 5,750,265 shares of the construction company’s stock valued at $135,419,000 after buying an additional 32,000 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of PulteGroup during the first quarter valued at about $92,466,000. Finally, Hexavest Inc. increased its stake in shares of PulteGroup by 4.8% in the first quarter. Hexavest Inc. now owns 3,263,222 shares of the construction company’s stock valued at $76,849,000 after buying an additional 149,914 shares during the period. 92.52% of the stock is currently owned by institutional investors.
PulteGroup, Inc. (NYSE PHM) opened at 24.84 on Friday. The stock has a 50 day moving average price of $24.61 and a 200-day moving average price of $23.26. PulteGroup, Inc. has a one year low of $17.69 and a one year high of $25.74. The stock has a market cap of $7.49 billion, a PE ratio of 13.75 and a beta of 1.14.
PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, July 25th. The construction company reported $0.47 earnings per share (EPS) for the quarter, beating 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 return on equity of 13.43% and a net margin of 7.35%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 earnings per share. Equities research analysts expect that PulteGroup, Inc. will post $2.09 earnings per share for the current fiscal year.
Several research firms have weighed in on PHM. Zacks Investment Research cut PulteGroup from a “buy” rating to a “hold” rating in a report on Friday, July 28th. UBS AG cut PulteGroup from a “positive” rating to a “neutral” rating in a report on Wednesday, July 26th. Wedbush restated an “underperform” rating and set a $15.00 price target on shares of PulteGroup in a report on Tuesday, May 9th. Susquehanna Bancshares Inc cut PulteGroup from a “positive” rating to a “neutral” rating and set a $26.00 price target for the company. in a report on Wednesday, July 26th. Finally, Credit Suisse Group began coverage on PulteGroup in a report on Thursday, June 22nd. They set an “outperform” rating and a $27.00 price target for the company. 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 stock presently has a consensus rating of “Hold” and a consensus target price of $25.08.
In other news, Director Brian P. Anderson sold 14,000 shares of the company’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 value of $324,520.00. Following the completion of the sale, the director now directly owns 108,744 shares in the company, valued at $2,520,685.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.71% of the stock is owned by corporate 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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