Algert Global LLC Purchases Shares of 2,949 PulteGroup, Inc. $PHM

Key Points

• Algert Global LLC has acquired a new stake of 2,949 shares in PulteGroup, Inc., valued at approximately $303,000, during the first quarter of the year.
• Several analysts have recently raised their price targets for PulteGroup, with JPMorgan Chase increasing its target from $121 to $123, while UBS Group raised it from $141 to $150.
• PulteGroup reported quarterly earnings of $3.03 per share, which exceeded analyst expectations of $2.92, despite a revenue decrease of 4.3% year-over-year.

Algert Global LLC purchased a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,949 shares of the construction company's stock, valued at approximately $303,000.

Other hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC grew its position in PulteGroup by 20.5% during the first quarter. Merit Financial Group LLC now owns 15,388 shares of the construction company's stock worth $1,582,000 after buying an additional 2,613 shares in the last quarter. Vest Financial LLC grew its position in PulteGroup by 1,311.3% during the first quarter. Vest Financial LLC now owns 312,723 shares of the construction company's stock worth $32,148,000 after buying an additional 290,564 shares in the last quarter. Hudson Capital Management LLC grew its position in PulteGroup by 8.6% during the first quarter. Hudson Capital Management LLC now owns 41,305 shares of the construction company's stock worth $4,246,000 after buying an additional 3,266 shares in the last quarter. NBC Securities Inc. grew its position in PulteGroup by 103,800.0% during the first quarter. NBC Securities Inc. now owns 5,195 shares of the construction company's stock worth $534,000 after buying an additional 5,190 shares in the last quarter. Finally, Reyes Financial Architecture Inc. grew its position in PulteGroup by 42.1% during the first quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company's stock worth $79,000 after buying an additional 228 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Trading Up 0.4%

Shares of NYSE PHM traded up $0.50 during midday trading on Thursday, reaching $131.53. The company had a trading volume of 1,133,714 shares, compared to its average volume of 2,165,751. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The firm's fifty day moving average price is $116.19 and its 200-day moving average price is $106.76. The stock has a market cap of $25.95 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.39 and a beta of 1.22.

PulteGroup (NYSE:PHM - Get Free Report) last released its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, beating 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 company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the previous year, the company posted $3.83 EPS. PulteGroup's revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on PHM. Oppenheimer boosted their target price on PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Wedbush restated an "outperform" rating and set a $150.00 target price on shares of PulteGroup in a research report on Wednesday, August 13th. Royal Bank Of Canada boosted their target price on PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Finally, UBS Group upped their price objective on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, PulteGroup presently has an average rating of "Moderate Buy" and a consensus target price of $135.31.

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.