TD Asset Management Inc. trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,787 shares of the construction company’s stock after selling 2,398 shares during the period. TD Asset Management Inc.’s holdings in PulteGroup were worth $2,725,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PHM. Millennium Management LLC lifted its position in PulteGroup by 2,993.9% during the first quarter. Millennium Management LLC now owns 6,059,291 shares of the construction company’s stock valued at $178,688,000 after buying an additional 5,863,443 shares in the last quarter. Boston Partners acquired a new position in shares of PulteGroup during the first quarter worth $109,951,000. Wedge Capital Management L L P NC lifted its position in shares of PulteGroup by 102.2% during the first quarter. Wedge Capital Management L L P NC now owns 1,750,420 shares of the construction company’s stock worth $51,620,000 after purchasing an additional 884,600 shares in the last quarter. Greenhaven Associates Inc. lifted its position in shares of PulteGroup by 13.5% during the first quarter. Greenhaven Associates Inc. now owns 6,522,895 shares of the construction company’s stock worth $192,360,000 after purchasing an additional 773,494 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of PulteGroup by 140.1% during the first quarter. Teacher Retirement System of Texas now owns 1,323,379 shares of the construction company’s stock worth $39,026,000 after purchasing an additional 772,177 shares in the last quarter. 83.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:PHM opened at $28.09 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $8.16 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.43 and a beta of 1.10. PulteGroup, Inc. has a 12-month low of $24.86 and a 12-month high of $35.21.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Thursday, July 26th. The construction company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.15. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.38 billion. PulteGroup had a net margin of 7.92% and a return on equity of 19.95%. The business’s revenue was up 27.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. equities research analysts predict that PulteGroup, Inc. will post 3.48 earnings per share for the current year.

A number of research analysts have recently commented on PHM shares. Royal Bank of Canada set a $36.00 target price on shares of PulteGroup and gave the stock a “buy” rating in a research report on Wednesday, April 25th. Buckingham Research raised shares of PulteGroup from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, April 25th. B. Riley raised shares of PulteGroup from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $40.00 in a research report on Wednesday, April 25th. Credit Suisse Group set a $35.00 target price on shares of PulteGroup and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Finally, ValuEngine raised shares of PulteGroup from a “hold” rating to a “buy” rating in a research report on Tuesday, May 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $35.14.

PulteGroup Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.

Further Reading: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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