137,655 Shares in PulteGroup, Inc. $PHM Bought by Long Pond Capital LP

Key Points

• Long Pond Capital LP has acquired 137,655 shares of PulteGroup, Inc., marking its 26th largest investment with approximately $14.15 million valued in the first quarter.
• Several institutional investors, including TD Waterhouse Canada Inc. and Price T Rowe Associates, have increased their holdings in PulteGroup, resulting in 89.90% of the stock being owned by institutional investors.
• Analysts are bullish on PulteGroup, with multiple upgrades and target price increases, including Wells Fargo raising its target from $125 to $135 and UBS Group from $141 to $150.

Long Pond Capital LP bought a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 137,655 shares of the construction company's stock, valued at approximately $14,151,000. PulteGroup makes up about 0.9% of Long Pond Capital LP's investment portfolio, making the stock its 26th biggest position. Long Pond Capital LP owned 0.07% of PulteGroup at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. lifted its holdings in PulteGroup by 43.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after buying an additional 105 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in PulteGroup by 15.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,303,715 shares of the construction company's stock worth $141,976,000 after buying an additional 177,801 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in PulteGroup by 21.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 61,600 shares of the construction company's stock worth $6,708,000 after buying an additional 11,000 shares during the last quarter. Nebula Research & Development LLC purchased a new stake in shares of PulteGroup in the 4th quarter valued at about $479,000. Finally, Virtus ETF Advisers LLC lifted its holdings in shares of PulteGroup by 26.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 8,599 shares of the construction company's stock valued at $936,000 after purchasing an additional 1,788 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on PulteGroup from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Raymond James Financial restated an "outperform" rating and issued a $140.00 price target (up previously from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Wedbush restated an "outperform" rating and issued a $150.00 price target on shares of PulteGroup in a research report on Wednesday, August 13th. Finally, UBS Group boosted their price target on PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, PulteGroup has an average rating of "Moderate Buy" and a consensus price target of $135.31.

PulteGroup Trading Up 5.6%

Shares of PHM opened at $132.3530 on Monday. The stock's 50-day moving average is $114.30 and its two-hundred day moving average is $106.24. The stock has a market cap of $26.11 billion, a PE ratio of 9.89, a P/E/G ratio of 0.39 and a beta of 1.22. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77.

PulteGroup (NYSE:PHM - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same period in the previous year, the company earned $3.83 earnings per share. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. Equities analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.

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