PulteGroup, Inc. $PHM Position Lessened by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. reduced its stake in PulteGroup, Inc. by 1.7%, selling 1,900 shares and ending with 111,700 shares valued at approximately $10.63 million.
• Institutional investors own about 89.90% of PulteGroup's stock, with various investors adjusting their holdings significantly in recent quarters.
• Analysts have boosted their price targets for PulteGroup, with Citigroup raising its target from $128.00 to $132.00, signaling positive sentiment toward the company's stock.

APG Asset Management N.V. lowered its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,700 shares of the construction company's stock after selling 1,900 shares during the quarter. APG Asset Management N.V. owned 0.06% of PulteGroup worth $10,630,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriflex Group Inc. acquired a new position in shares of PulteGroup during the fourth quarter worth about $37,000. TD Waterhouse Canada Inc. lifted its stake in shares of PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after purchasing an additional 105 shares in the last quarter. American National Bank & Trust acquired a new position in shares of PulteGroup during the first quarter worth about $39,000. Quarry LP acquired a new position in shares of PulteGroup during the fourth quarter worth about $43,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of PulteGroup during the first quarter worth about $54,000. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Stock Performance

NYSE:PHM traded up $0.50 during trading hours on Thursday, reaching $131.53. 1,133,714 shares of the stock were exchanged, compared to its average volume of 2,042,937. 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 firm has a 50 day simple moving average of $116.84 and a 200-day simple moving average of $106.94. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The stock has a market capitalization of $25.95 billion, a P/E ratio of 9.83, a P/E/G 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 EPS for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter last year, the business posted $3.83 EPS. PulteGroup's quarterly revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on PHM. Oppenheimer boosted their price objective on PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Wedbush restated an "outperform" rating and set a $150.00 price objective on shares of PulteGroup in a research note on Wednesday, August 13th. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price target (up previously from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. UBS Group boosted their price target on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada boosted their price target on PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 23rd. One investment 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.31.

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.