3,829 Shares in PulteGroup, Inc. (NYSE:PHM) Acquired by Ground Swell Capital LLC

Key Points

• Ground Swell Capital LLC has acquired a new stake in PulteGroup, purchasing 3,829 shares valued at approximately $394,000 in the 1st quarter.
• Several institutional investors, including JPMorgan Chase & Co. and Northern Trust Corp, have significantly increased their stakes in the company, reflecting growing confidence in PulteGroup.
• PulteGroup's stock price recently rose by 5.4%, with a current market cap of $25.65 billion and an earnings report showing $3.03 earnings per share, exceeding consensus estimates.

Ground Swell Capital LLC purchased a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,829 shares of the construction company's stock, valued at approximately $394,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in PulteGroup by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company's stock valued at $358,395,000 after buying an additional 1,001,290 shares during the period. Northern Trust Corp raised its holdings in shares of PulteGroup by 14.9% in the 4th quarter. Northern Trust Corp now owns 2,425,941 shares of the construction company's stock valued at $264,185,000 after purchasing an additional 315,148 shares in the last quarter. Nuveen LLC acquired a new stake in shares of PulteGroup in the 1st quarter valued at $213,092,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of PulteGroup by 9.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,033,776 shares of the construction company's stock valued at $221,478,000 after purchasing an additional 169,736 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of PulteGroup by 14.3% in the 4th quarter. Deutsche Bank AG now owns 1,859,029 shares of the construction company's stock valued at $202,448,000 after purchasing an additional 232,939 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PHM shares. UBS Group raised their price objective on shares of PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price target on shares of PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Citigroup raised their price objective on shares of PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company raised their price objective on shares of PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada raised their price objective on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $135.31.

PulteGroup Stock Up 5.4%

Shares of NYSE:PHM opened at $130.01 on Thursday. The company has a market cap of $25.65 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 0.36 and a beta of 1.22. The firm's 50-day simple moving average is $110.64 and its 200-day simple moving average is $105.59. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.11. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.83 earnings per share. As a group, equities research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

About PulteGroup

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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