Ameriprise Financial Inc. Purchases 271,917 Shares of PulteGroup, Inc. $PHM

Key Points

• Ameriprise Financial Inc. increased its stake in PulteGroup, Inc. by 11.8%, owning approximately 2.57 million shares valued at $264.2 million as of its last SEC filing.
• PulteGroup reported earnings per share (EPS) of $3.03 for the last quarter, exceeding estimates and demonstrating a net margin of 15.50%, though revenue was down 4.3% year-over-year.
• Analysts have raised their price targets for PulteGroup stock, with ratings indicating a shift from "hold" to "strong-buy," reflecting improved investor sentiment.

Ameriprise Financial Inc. raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,570,022 shares of the construction company's stock after purchasing an additional 271,917 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.28% of PulteGroup worth $264,216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PHM. Ameriflex Group Inc. purchased a new stake in PulteGroup during the fourth quarter valued at about $37,000. 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 worth $38,000 after buying an additional 105 shares in the last quarter. American National Bank & Trust purchased a new stake in shares of PulteGroup in the first quarter worth about $39,000. Quarry LP purchased a new stake in shares of PulteGroup in the fourth quarter worth about $43,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of PulteGroup in the first quarter worth about $54,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have 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 report on Wednesday, July 23rd. Wedbush reissued an "outperform" rating and issued a $150.00 price target on shares of PulteGroup in a report on Wednesday, August 13th. Seaport Res Ptn raised shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price target on shares of PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Citigroup increased their price target on shares of PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a 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 assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $135.31.

PulteGroup Price Performance

Shares of PHM stock traded down $0.02 during trading hours on Wednesday, hitting $131.11. 1,350,095 shares of the company's stock were exchanged, compared to its average volume of 2,169,077. The company has a market capitalization of $25.87 billion, a PE ratio of 9.80, a PEG ratio of 0.39 and a beta of 1.22. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The business's 50 day simple moving average is $115.55 and its 200-day simple moving average is $106.60. 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 posted its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping the consensus estimate of $2.92 by $0.11. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business's revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $3.83 earnings per share. On average, equities research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current 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.