Bank of Hawaii Purchases New Position in PulteGroup, Inc. $PHM

Key Points

• Bank of Hawaii has acquired a new stake in PulteGroup, Inc. worth approximately $242,000, acquiring 2,353 shares during the first quarter.
• PulteGroup's stock recently opened at $132.35 and has a market cap of $26.11 billion, with a price-to-earnings ratio of 9.89.
• Several analysts have rated PulteGroup as "outperform," with target prices ranging from $140.00 to $150.00, reflecting optimistic growth expectations.

Bank of Hawaii purchased a new position in PulteGroup, Inc. (NYSE:PHM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,353 shares of the construction company's stock, valued at approximately $242,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in PulteGroup in the 4th quarter worth $37,000. TD Waterhouse Canada Inc. grew its position in 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 purchasing an additional 105 shares during the last quarter. American National Bank & Trust acquired a new stake in PulteGroup in the 1st quarter worth $39,000. Quarry LP acquired a new stake in PulteGroup in the 4th quarter worth $43,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of PulteGroup during the 1st quarter valued at about $54,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PHM. Royal Bank Of Canada lifted their target price on shares of PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Citigroup lifted their target price on shares of PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Raymond James Financial reiterated an "outperform" rating and set a $140.00 target price (up from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their target price on shares of PulteGroup from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Oppenheimer lifted their target price on shares of PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. One 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $135.31.

PulteGroup Price Performance

PHM stock traded up $0.50 during trading on Thursday, hitting $131.53. 1,133,714 shares of the stock traded hands, compared to its average volume of 2,042,937. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The stock has a market cap of $25.95 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 0.39 and a beta of 1.22. The company has a 50 day simple moving average of $116.84 and a 200 day simple moving average of $106.94. 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $4.42 billion. During the same period last year, the firm posted $3.83 EPS. The firm's quarterly revenue was down 4.3% on a year-over-year basis. Equities analysts expect that PulteGroup, Inc. will post 12.32 EPS 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.