4,300 Shares in PulteGroup, Inc. (NYSE:PHM) Bought by Arrowpoint Investment Partners Singapore Pte. Ltd.

Key Points

• Arrowpoint Investment Partners made a new investment of $442,000 in PulteGroup, purchasing 4,300 shares during the first quarter.
• PulteGroup reported an EPS of $3.03, beating analyst estimates of $2.92 for its latest quarterly earnings.
• Analyst ratings for PulteGroup show a consensus of 9 buy ratings and a target price increase, with a current consensus rating of "Moderate Buy."

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,300 shares of the construction company's stock, valued at approximately $442,000.

Several other hedge funds have also recently added to or reduced their stakes in PHM. Rockefeller Capital Management L.P. increased its holdings in PulteGroup by 227.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 138,340 shares of the construction company's stock valued at $15,067,000 after purchasing an additional 96,049 shares during the period. Townsquare Capital LLC increased its holdings in PulteGroup by 91.0% during the 4th quarter. Townsquare Capital LLC now owns 13,516 shares of the construction company's stock valued at $1,472,000 after purchasing an additional 6,438 shares during the period. Sagespring Wealth Partners LLC purchased a new position in PulteGroup during the 4th quarter valued at about $224,000. Advisors Capital Management LLC increased its holdings in PulteGroup by 7.3% during the 4th quarter. Advisors Capital Management LLC now owns 4,041 shares of the construction company's stock valued at $440,000 after purchasing an additional 276 shares during the period. Finally, Barclays PLC increased its holdings in PulteGroup by 27.8% during the 4th quarter. Barclays PLC now owns 612,320 shares of the construction company's stock valued at $66,683,000 after purchasing an additional 133,024 shares during the period. Institutional investors own 89.90% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PHM. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Citigroup upped their target price on PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Raymond James Financial reiterated an "outperform" rating and set a $140.00 target price (up previously from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Wedbush reiterated an "outperform" rating and set a $150.00 target price on shares of PulteGroup in a report on Wednesday. Finally, Barclays reduced their target price on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, PulteGroup currently has a consensus rating of "Moderate Buy" and an average price target of $135.31.

PulteGroup Stock Down 0.9%

PHM stock traded down $1.20 during midday trading on Thursday, hitting $128.76. The company's stock had a trading volume of 2,489,578 shares, compared to its average volume of 2,130,815. The company has a market cap of $25.40 billion, a PE ratio of 9.62, a P/E/G ratio of 0.38 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 company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The firm's 50-day moving average is $111.19 and its 200-day moving average is $105.67.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.11. The business had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%. The firm's quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.83 EPS. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share 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.