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

Key Points

• Chicago Partners Investment Group LLC has acquired a new stake in PulteGroup, Inc. worth approximately $256,000, purchasing 2,526 shares in the first quarter of 2023.
• PulteGroup's earnings report showed earnings per share of $3.03, exceeding analyst expectations, although its revenue of $4.40 billion slightly missed estimates.
• Equities analysts have a consensus rating of "Moderate Buy" for PulteGroup, with an average price target of $134.15, after several firms upgraded their ratings recently.

Chicago Partners Investment Group LLC acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,526 shares of the construction company's stock, valued at approximately $256,000.

Several other large investors have also modified their holdings of PHM. Ameriflex Group Inc. acquired a new stake in PulteGroup during the 4th quarter worth approximately $37,000. TD Waterhouse Canada Inc. boosted its holdings in PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after acquiring an additional 105 shares during the period. American National Bank & Trust purchased a new position in PulteGroup in the 1st quarter worth approximately $39,000. Quarry LP purchased a new position in PulteGroup in the 4th quarter worth approximately $43,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of PulteGroup in the 1st quarter valued at approximately $54,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Down 0.9%

NYSE:PHM traded down $1.20 during trading hours on Thursday, reaching $128.76. The company's stock had a trading volume of 2,489,578 shares, compared to its average volume of 2,177,821. The company has a market cap of $25.40 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 0.36 and a beta of 1.22. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The business's 50-day moving average is $110.64 and its 200-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 issued its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. The firm 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%. PulteGroup's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.83 earnings per share. Equities research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citigroup upped their target price on PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price target (up from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Barclays lowered their price target on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Finally, UBS Group boosted their price objective on PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. 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 stock. According to data from MarketBeat, PulteGroup presently has an average rating of "Moderate Buy" and a consensus price target of $135.31.

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.