AXS Investments LLC Sells 6,509 Shares of PulteGroup, Inc. (NYSE:PHM)

Key Points

• AXS Investments LLC decreased its holdings in PulteGroup by 33.7%, selling 6,509 shares, resulting in ownership of 12,795 shares valued at approximately $1.3 million.
• Analysts have given PulteGroup's stock a consensus rating of "Moderate Buy", with price targets recently raised by multiple firms, including UBS and Wells Fargo.
• PulteGroup reported $3.03 EPS for the last quarter, surpassing the consensus estimate of $2.92, although its revenue declined 4.3% year-over-year.

AXS Investments LLC lowered its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 33.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 12,795 shares of the construction company's stock after selling 6,509 shares during the period. AXS Investments LLC's holdings in PulteGroup were worth $1,315,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PHM. TD Waterhouse Canada Inc. grew its holdings 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 valued at $38,000 after buying an additional 105 shares during the last quarter. NDVR Inc. grew its holdings in shares of PulteGroup by 6.0% during the fourth quarter. NDVR Inc. now owns 1,984 shares of the construction company's stock valued at $216,000 after buying an additional 112 shares during the last quarter. Coppell Advisory Solutions LLC grew its holdings in shares of PulteGroup by 10.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,271 shares of the construction company's stock valued at $138,000 after buying an additional 116 shares during the last quarter. Belpointe Asset Management LLC grew its holdings in shares of PulteGroup by 3.9% during the fourth quarter. Belpointe Asset Management LLC now owns 3,277 shares of the construction company's stock valued at $357,000 after buying an additional 123 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in shares of PulteGroup by 15.9% during the first quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company's stock valued at $93,000 after buying an additional 125 shares during the last quarter. Institutional investors own 89.90% of the company's stock.

Analyst Upgrades and Downgrades

PHM has been the topic of several analyst reports. UBS Group boosted their price target on shares of PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Wells Fargo & Company boosted 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. Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Citigroup lifted their price objective on shares of PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $134.15.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $120.22 on Thursday. The company has a 50 day moving average of $107.76 and a 200 day moving average of $105.25. The stock has a market cap of $23.72 billion, a P/E ratio of 8.99, a P/E/G ratio of 0.35 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.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, beating the consensus estimate of $2.92 by $0.11. The company had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. PulteGroup's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.83 earnings per share. As a group, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

About PulteGroup

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.

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