Bayview Asset Management LLC Buys 2,599 Shares of PulteGroup, Inc. $PHM

Key Points

• Bayview Asset Management LLC has increased its stake in PulteGroup, Inc. by 22.2%, owning 14,287 shares valued at approximately $1.47 million.
• PulteGroup's recent earnings report showed an EPS of $3.03, exceeding expectations and highlighting a 15.50% net margin, despite a 4.3% decline in revenue year-over-year.
• Several analysts have raised their target price for PulteGroup, with Raymond James setting a new target of $140.00, indicating a generally optimistic outlook for the stock.

Bayview Asset Management LLC boosted its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 22.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 14,287 shares of the construction company's stock after purchasing an additional 2,599 shares during the quarter. PulteGroup comprises about 0.6% of Bayview Asset Management LLC's holdings, making the stock its 7th biggest holding. Bayview Asset Management LLC's holdings in PulteGroup were worth $1,469,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Ameriflex Group Inc. purchased a new position in shares of PulteGroup in the fourth quarter worth approximately $37,000. American National Bank & Trust bought a new stake in shares of PulteGroup during the first quarter valued at approximately $39,000. Quarry LP bought a new stake in shares of PulteGroup during the fourth quarter valued at approximately $43,000. Catalyst Capital Advisors LLC bought a new stake in shares of PulteGroup during the first quarter valued at approximately $54,000. Finally, Sentry Investment Management LLC bought a new stake in PulteGroup in the first quarter worth $61,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Stock Up 0.5%

Shares of PHM stock traded up $0.70 on Monday, hitting $132.17. The stock had a trading volume of 1,344,261 shares, compared to its average volume of 1,968,773. 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 business has a 50 day moving average price of $117.45 and a 200 day moving average price of $107.12. The company has a market cap of $26.08 billion, a PE ratio of 9.88, a P/E/G ratio of 0.39 and a beta of 1.26. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47.

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 for the quarter, beating the consensus estimate of $2.92 by $0.11. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $3.83 earnings per share. Research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target 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. 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 research report on Wednesday, July 23rd. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price objective (up from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. Royal Bank Of Canada lifted their price objective on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, PulteGroup currently has an average rating of "Moderate Buy" and an average price target of $135.31.

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.