BI Asset Management Fondsmaeglerselskab A S Raises Position in PulteGroup, Inc. $PHM

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its position in PulteGroup, Inc. by 376.6%, owning a total of 59,498 shares valued at approximately $6.12 million.
• Several analysts have updated their price targets for PulteGroup, with UBS upgrading its target to $150.00 and others indicating a strong performance outlook.
• PulteGroup reported a quarterly EPS of $3.03, beating estimates but seeing a 4.3% decline in revenue year-over-year.

BI Asset Management Fondsmaeglerselskab A S increased its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 376.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,498 shares of the construction company's stock after purchasing an additional 47,014 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in PulteGroup were worth $6,116,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PHM. Ameriflex Group Inc. acquired a new position in PulteGroup during the 4th quarter worth approximately $37,000. TD Waterhouse Canada Inc. boosted its stake in shares of PulteGroup by 43.0% in 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 in the last quarter. American National Bank & Trust purchased a new stake in shares of PulteGroup in the first quarter valued at approximately $39,000. Quarry LP acquired a new position in PulteGroup during the fourth quarter worth $43,000. Finally, Catalyst Capital Advisors LLC purchased a new position in PulteGroup in the first quarter worth $54,000. Institutional investors and hedge funds own 89.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on PHM shares. UBS Group boosted their target price 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. JPMorgan Chase & Co. raised their price objective on shares of PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Evercore ISI boosted their price objective on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Wells Fargo & Company increased their target price on shares of PulteGroup from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Wedbush reiterated an "outperform" rating and set a $150.00 price target on shares of PulteGroup in a research report on Wednesday, August 13th. One equities research 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $135.31.

PulteGroup Stock Performance

Shares of PHM opened at $126.2840 on Thursday. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The stock has a market cap of $24.92 billion, a P/E ratio of 9.44, a PEG ratio of 0.38 and a beta of 1.22. 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 company has a 50-day moving average of $113.26 and a two-hundred day moving average of $106.04.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 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 business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same period in the prior year, the business earned $3.83 earnings per share. The company's quarterly revenue was down 4.3% on a year-over-year basis. As a group, research analysts predict 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.

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