Citigroup Inc. Grows Stake in PulteGroup, Inc. (NYSE:PHM)

Key Points

• Citigroup Inc. has increased its stake in PulteGroup, Inc. by 35.2%, acquiring an additional 207,392 shares and totaling 796,297 shares worth approximately $81.86 million.
• PulteGroup reported a quarterly earnings per share (EPS) of $3.03, exceeding analysts' estimates of $2.92, although revenue fell 4.3% year-over-year.
• Recent analyst reports maintain a favorable outlook on PulteGroup, with targets ranging up to $165, reflecting a consensus average rating of "Moderate Buy."

Citigroup Inc. raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 35.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 796,297 shares of the construction company's stock after purchasing an additional 207,392 shares during the period. Citigroup Inc. owned 0.40% of PulteGroup worth $81,859,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PHM. Ameriflex Group Inc. bought a new position in shares of PulteGroup in the 4th quarter worth approximately $37,000. TD Waterhouse Canada Inc. raised its position in shares of 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 in the last quarter. American National Bank & Trust bought a new position in shares of PulteGroup in the 1st quarter worth approximately $39,000. Quarry LP bought a new position in shares of PulteGroup in the 4th quarter worth approximately $43,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of PulteGroup in the 1st quarter worth approximately $54,000. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Up 2.5%

PHM traded up $3.05 during trading on Wednesday, hitting $126.38. 140,587 shares of the company's stock traded hands, compared to its average volume of 2,156,531. The company's 50 day simple moving average is $110.08 and its two-hundred day simple moving average is $105.42. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The stock has a market capitalization of $24.93 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 0.35 and a beta of 1.22.

PulteGroup (NYSE:PHM - Get Free Report) last issued 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 business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same period last year, the business posted $3.83 EPS. The company's revenue was down 4.3% compared to the same quarter last year. Analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Citigroup increased their target price on PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Evercore ISI increased their target price on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Finally, UBS Group raised 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 equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $134.15.

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.