Banque Cantonale Vaudoise Purchases Shares of 5,995 PulteGroup, Inc. (NYSE:PHM)

Key Points

• Banque Cantonale Vaudoise invested approximately $616,000 in PulteGroup, Inc. by purchasing 5,995 shares during the first quarter, indicating strong institutional interest in the construction company.
• PulteGroup reported $3.03 earnings per share in its latest quarterly earnings, exceeding analysts' expectations, although its revenue declined 4.3% year-over-year.
• A consensus analysis shows that PulteGroup has a "Moderate Buy" rating, with a target price set at $134.15, reflecting positive sentiment among investment analysts.

Banque Cantonale Vaudoise purchased a new position in PulteGroup, Inc. (NYSE:PHM - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,995 shares of the construction company's stock, valued at approximately $616,000.

Other large investors have also recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new position in shares of PulteGroup in the fourth quarter worth about $37,000. TD Waterhouse Canada Inc. raised its holdings in shares of PulteGroup by 43.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after acquiring an additional 105 shares during the period. American National Bank & Trust acquired a new position in shares of PulteGroup during the 1st quarter valued at about $39,000. Quarry LP acquired a new position in shares of PulteGroup during the 4th quarter valued at about $43,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of PulteGroup in the first quarter valued at about $54,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Up 2.4%

Shares of PHM traded up $2.79 during mid-day trading on Monday, hitting $119.54. 1,965,666 shares of the company's stock were exchanged, compared to its average volume of 2,366,963. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $23.59 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 0.34 and a beta of 1.22. The stock's 50-day moving average is $106.92 and its 200-day moving average is $105.13. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47.

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 business had revenue of $4.40 billion during 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 company's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.83 earnings per share. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PHM shares. Oppenheimer lifted their target price on shares of PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Evercore ISI lifted their price target on shares of PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a report on Tuesday, April 22nd. Royal Bank Of Canada lifted their target price on PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Finally, Raymond James Financial reiterated an "outperform" rating and set a $140.00 price target (up from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Six 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 company's stock. According to MarketBeat.com, PulteGroup has an average rating of "Moderate Buy" and a consensus price target of $134.15.

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.