PulteGroup, Inc. $PHM Stake Raised by Candriam S.C.A.

Key Points

• Candriam S.C.A. significantly increased its stake in PulteGroup, Inc. by 1,543.8% during the first quarter, holding 42,000 shares valued at $4.32 million as of the latest report.
• PulteGroup's stock has shown a 5.6% increase recently, with shares trading at approximately $132.35, reflecting a year-long range between $88.07 and $149.47.
• The company reported an earnings per share (EPS) of $3.03 for the last quarter, surpassing analysts' expectations, although revenue decreased by 4.3% year-over-year.

Candriam S.C.A. lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 1,543.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,000 shares of the construction company's stock after purchasing an additional 39,445 shares during the quarter. Candriam S.C.A.'s holdings in PulteGroup were worth $4,318,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ameriflex Group Inc. acquired a new stake in shares of PulteGroup in the 4th quarter worth approximately $37,000. TD Waterhouse Canada Inc. increased its position 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 acquired a new position in shares of PulteGroup during the 1st quarter worth $39,000. Quarry LP acquired a new position in shares of PulteGroup during the 4th quarter worth $43,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of PulteGroup in the 1st quarter worth about $54,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

PHM has been the subject of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. UBS Group increased their target price on PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Wedbush reaffirmed an "outperform" rating and set a $150.00 price target on shares of PulteGroup in a research note on Wednesday, August 13th. Finally, Oppenheimer boosted their price objective on PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, PulteGroup has a consensus rating of "Moderate Buy" and an average price target of $135.31.

PulteGroup Stock Performance

Shares of NYSE:PHM traded down $0.58 during trading hours on Thursday, hitting $130.45. The stock had a trading volume of 428,466 shares, compared to its average volume of 2,161,299. The stock's fifty day simple moving average is $116.19 and its 200 day simple moving average is $106.76. The firm has a market capitalization of $25.74 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.39 and a beta of 1.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last posted its 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 return on equity of 21.01% and a net margin of 15.50%.The firm had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.42 billion. During the same period last year, the firm earned $3.83 EPS. The firm's revenue was down 4.3% compared to the same quarter last year. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share 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.