CCM Investment Group LLC Takes Position in PulteGroup, Inc. (NYSE:PHM)

Key Points

• CCM Investment Group LLC has acquired a new stake in PulteGroup, Inc., purchasing 17,399 shares valued at approximately $1.77 million.
• Analyst ratings for PulteGroup show an average rating of "Moderate Buy" with a consensus target price of $134.15, highlighting positive sentiment among investment analysts.
• PulteGroup reported earnings of $3.03 per share in its most recent quarter, exceeding analyst expectations, although revenue was slightly below estimates, indicating mixed financial performance.

CCM Investment Group LLC acquired a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,399 shares of the construction company's stock, valued at approximately $1,770,000.

Several other large investors have also made changes to their positions in the business. Nuveen LLC purchased a new stake in shares of PulteGroup in the 1st quarter valued at $213,092,000. Cooper Financial Group boosted its holdings in shares of PulteGroup by 16.1% in the 1st quarter. Cooper Financial Group now owns 6,605 shares of the construction company's stock valued at $679,000 after acquiring an additional 914 shares during the last quarter. Pandora Wealth Inc. purchased a new stake in shares of PulteGroup in the 1st quarter valued at $97,000. Fiduciary Family Office LLC purchased a new stake in PulteGroup during the first quarter worth $1,029,000. Finally, Covestor Ltd boosted its holdings in PulteGroup by 55.5% during the first quarter. Covestor Ltd now owns 1,627 shares of the construction company's stock worth $167,000 after buying an additional 581 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PHM shares. Royal Bank Of Canada increased their price target on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. Oppenheimer increased their price target on shares of PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. UBS Group increased their price target on shares of PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Barclays lowered their price target on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Six investment analysts have rated the stock with a hold rating, nine have issued 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 target price of $134.15.

PulteGroup Stock Performance

NYSE:PHM opened at $121.63 on Friday. 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 fifty day moving average of $109.13 and a two-hundred day moving average of $105.34. The stock has a market capitalization of $24.00 billion, a PE ratio of 9.09, a P/E/G ratio of 0.36 and a beta of 1.22. 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 data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. The company had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.83 earnings per share. As a group, research analysts forecast 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.

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