Alyeska Investment Group L.P. Acquires 133,739 Shares of PulteGroup, Inc. $PHM

Key Points

• Alyeska Investment Group increased its PulteGroup stake by 59.6%, purchasing 133,739 additional shares and bringing its holdings to 358,198 shares valued at approximately $49.1 million.
• PulteGroup reported quarterly earnings of $2.48 per share, beating estimates of $2.36, while revenue of $3.98 billion also exceeded expectations. However, revenue declined 9.6% year over year.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and five Holds producing a Moderate Buy consensus and an average price target of $142.20, versus the stock’s reported $128.66 price.

Alyeska Investment Group L.P. lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 59.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 358,198 shares of the construction company's stock after purchasing an additional 133,739 shares during the quarter. Alyeska Investment Group L.P. owned 0.19% of PulteGroup worth $49,148,000 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. National Pension Service boosted its stake in shares of PulteGroup by 3.8% during the fourth quarter. National Pension Service now owns 507,443 shares of the construction company's stock valued at $59,503,000 after purchasing an additional 18,455 shares in the last quarter. Qsemble Capital Management LP acquired a new position in PulteGroup during the 4th quarter worth about $7,205,000. River Street Advisors LLC lifted its stake in shares of PulteGroup by 94.6% in the first quarter. River Street Advisors LLC now owns 18,208 shares of the construction company's stock worth $2,141,000 after acquiring an additional 8,851 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of PulteGroup during the fourth quarter worth $15,950,000. Finally, OP Asset Management Ltd bought a new stake in shares of PulteGroup during the 1st quarter valued at about $2,430,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Trading Up 0.1%

Shares of PulteGroup stock opened at $128.66 on Monday. The company has a fifty day moving average of $129.52 and a 200 day moving average of $125.56. The company has a market capitalization of $24.12 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.59 and a beta of 1.19. PulteGroup, Inc. has a fifty-two week low of $108.49 and a fifty-two week high of $144.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 0.78.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.12. The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.94 billion. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The business's quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.03 earnings per share. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 10.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

PHM has been the subject of a number of recent research reports. Barclays boosted their price target on shares of PulteGroup from $123.00 to $124.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Weiss Ratings upgraded PulteGroup from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Wolfe Research set a $129.00 price target on PulteGroup and gave the stock an "outperform" rating in a report on Monday, August 24th. Wells Fargo & Company increased their target price on shares of PulteGroup from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Finally, Evercore restated an "outperform" rating and issued a $162.00 price objective on shares of PulteGroup in a research report on Thursday, July 23rd. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of "Moderate Buy" and an average target price of $142.20.

PulteGroup Company Profile

PulteGroup, Inc NYSE: PHM is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.

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