Charles Schwab Investment Management Inc. Boosts Stake in PulteGroup, Inc. (NYSE:PHM)

Charles Schwab Investment Management Inc. grew its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,374,328 shares of the construction company's stock after purchasing an additional 22,837 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.69% of PulteGroup worth $141,281,000 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 company. Intrust Bank NA grew its position in shares of PulteGroup by 67.2% during the first quarter. Intrust Bank NA now owns 4,578 shares of the construction company's stock valued at $471,000 after purchasing an additional 1,840 shares in the last quarter. iA Global Asset Management Inc. purchased a new position in PulteGroup in the first quarter worth about $1,306,000. Ruffer LLP grew its position in PulteGroup by 45.0% in the first quarter. Ruffer LLP now owns 42,245 shares of the construction company's stock worth $4,343,000 after acquiring an additional 13,113 shares in the last quarter. PNC Financial Services Group Inc. grew its position in PulteGroup by 3.0% in the first quarter. PNC Financial Services Group Inc. now owns 41,047 shares of the construction company's stock worth $4,220,000 after acquiring an additional 1,195 shares in the last quarter. Finally, IFG Advisory LLC grew its position in PulteGroup by 4.2% in the first quarter. IFG Advisory LLC now owns 24,976 shares of the construction company's stock worth $2,568,000 after acquiring an additional 1,001 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on PHM. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price target (up previously from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their price target on PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. UBS Group lifted their price target on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Wedbush reiterated an "outperform" rating and issued a $150.00 price target on shares of PulteGroup in a research report on Wednesday. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $135.31.

PulteGroup Trading Down 0.9%

Shares of PHM traded down $1.20 during mid-day trading on Thursday, reaching $128.76. 2,044,393 shares of the company's stock traded hands, compared to its average volume of 2,173,091. 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 $25.40 billion, a P/E ratio of 9.62, a P/E/G ratio of 0.36 and a beta of 1.22. The stock's 50-day moving average is $110.64 and its two-hundred day moving average is $105.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.42 billion. During the same quarter in the prior year, the firm earned $3.83 earnings per share. PulteGroup's revenue was down 4.3% compared to the same quarter last year. Research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Company 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.