American Century Companies Inc. Buys 25,899 Shares of PulteGroup, Inc. $PHM

Key Points

• American Century Companies Inc. increased its holdings in PulteGroup, Inc. by 8.9% in Q1, now owning approximately 317,008 shares valued at $32.59 million.
• Multiple institutional investors have also boosted their stakes in PulteGroup, with Kovitz Investment Group Partners increasing theirs by an impressive 474.2% during the same quarter.
• Wall Street analysts are optimistic about PulteGroup, with UBS Group raising their price target from $141 to $150, reflecting a strong consensus rating of "Moderate Buy."

American Century Companies Inc. increased its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,008 shares of the construction company's stock after acquiring an additional 25,899 shares during the quarter. American Century Companies Inc. owned about 0.16% of PulteGroup worth $32,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Ameriflex Group Inc. bought a new position in shares of PulteGroup in the 4th quarter worth about $37,000. TD Waterhouse Canada Inc. increased its stake in shares of PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after acquiring an additional 105 shares in the last quarter. American National Bank & Trust bought a new position in shares of PulteGroup in the 1st quarter worth about $39,000. Quarry LP bought a new position in shares of PulteGroup in the 4th quarter worth about $43,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of PulteGroup in the 1st quarter worth about $54,000. 89.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target 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. UBS Group increased their price target on shares of PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Wedbush restated an "outperform" rating and set a $150.00 price objective on shares of PulteGroup in a research note on Wednesday, August 13th. Finally, Raymond James Financial restated an "outperform" rating and set a $140.00 price objective (up from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. One 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $135.31.

PulteGroup Stock Down 0.0%

NYSE:PHM traded down $0.02 on Wednesday, reaching $131.11. 1,369,916 shares of the stock traded hands, compared to its average volume of 2,071,075. The company's fifty day simple moving average is $116.19 and its 200 day simple moving average is $106.76. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The company has a market capitalization of $25.87 billion, a price-to-earnings ratio of 9.80, a PEG ratio of 0.39 and a beta of 1.22. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period in the previous year, the business posted $3.83 earnings per share. The business's revenue for the quarter was down 4.3% on a year-over-year basis. Equities analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

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.