AlphaQuest LLC Has $1.07 Million Stake in PulteGroup, Inc. $PHM

Key Points

• AlphaQuest LLC reduced its stake in PulteGroup, Inc. by 37.9% during Q1, now holding shares worth approximately $1.07 million.
• Several institutional investors, including Allstate Corp and Ameriprise Financial Inc., have increased their positions in PulteGroup, indicating strong institutional interest.
• PulteGroup's stock has been positively viewed by analysts, with multiple upgrades, including an increase in price targets from firms like Citigroup and Wells Fargo.

AlphaQuest LLC trimmed its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 37.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,408 shares of the construction company's stock after selling 6,340 shares during the period. AlphaQuest LLC's holdings in PulteGroup were worth $1,070,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Allstate Corp grew its position in PulteGroup by 33.4% in the 1st quarter. Allstate Corp now owns 8,334 shares of the construction company's stock worth $857,000 after purchasing an additional 2,085 shares during the last quarter. 1832 Asset Management L.P. grew its position in PulteGroup by 1.3% in the 1st quarter. 1832 Asset Management L.P. now owns 25,612 shares of the construction company's stock worth $2,633,000 after purchasing an additional 336 shares during the last quarter. Ameriprise Financial Inc. grew its position in PulteGroup by 11.8% in the 1st quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company's stock worth $264,216,000 after purchasing an additional 271,917 shares during the last quarter. Norinchukin Bank The grew its position in PulteGroup by 14.4% in the 1st quarter. Norinchukin Bank The now owns 10,656 shares of the construction company's stock worth $1,095,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Summit Financial LLC grew its position in PulteGroup by 22.3% in the 1st quarter. Summit Financial LLC now owns 2,286 shares of the construction company's stock worth $235,000 after purchasing an additional 417 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PHM has been the topic of several research analyst reports. Citigroup raised their price target 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. Wedbush restated an "outperform" rating and issued a $150.00 price target on shares of PulteGroup in a research report on Wednesday, August 13th. Wells Fargo & Company raised their price target 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. Raymond James Financial restated an "outperform" rating and issued a $140.00 price target (up from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada lifted their target price on shares of PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $135.31.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $132.3530 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. The firm's 50-day simple moving average is $114.30 and its 200-day simple moving average is $106.26. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The firm has a market cap of $26.11 billion, a P/E ratio of 9.89, a price-to-earnings-growth ratio of 0.39 and a beta of 1.22.

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. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. 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 business earned $3.83 EPS. The firm's revenue was down 4.3% on a year-over-year basis. As a group, research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

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.

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