Allstate Corp Acquires 2,085 Shares of PulteGroup, Inc. $PHM

Key Points

• Allstate Corp increased its stake in PulteGroup, Inc. by 33.4%, owning 8,334 shares worth $857,000 as of its latest SEC filing.
• PulteGroup received several rating upgrades from research firms, including a move from "hold" to "strong-buy" by Seaport Res Ptn.
• The company reported earnings of $3.03 per share for the last quarter, exceeding estimates, but revenue saw a 4.3% decline year-over-year.

Allstate Corp boosted its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 33.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,334 shares of the construction company's stock after acquiring an additional 2,085 shares during the quarter. Allstate Corp's holdings in PulteGroup were worth $857,000 as of its most recent SEC filing.

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

PulteGroup Stock Up 0.4%

Shares of NYSE:PHM traded up $0.50 during midday trading on Thursday, hitting $131.53. The stock had a trading volume of 1,133,714 shares, compared to its average volume of 2,165,751. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month 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 business's 50-day simple moving average is $116.84 and its 200-day simple moving average is $106.94. The company has a market cap of $25.95 billion, a P/E ratio of 9.83, a PEG 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 the consensus estimate of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $4.42 billion. During the same period last year, the business earned $3.83 earnings per share. The firm's revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on PHM. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price target (up from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. Seaport Res Ptn raised shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. UBS Group lifted their price target on shares of PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company increased their price objective on shares of PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Oppenheimer raised their price objective on PulteGroup from $132.00 to $140.00 and gave the company an "outperform" 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 issued a Hold rating to the company's stock. According to MarketBeat, PulteGroup has a consensus rating of "Moderate Buy" and an average price target of $135.31.

PulteGroup 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.