Connor Clark & Lunn Investment Management Ltd. Sells 14,189 Shares of PulteGroup, Inc. $PHM

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in PulteGroup by 72.2%, now holding 5,474 shares worth $563,000, following the sale of 14,189 shares in the first quarter.
• Analysts are optimistic, with several firms including Oppenheimer and Raymond James raising their price targets for PulteGroup to $140, reflecting a favorable outlook on the stock.
• PulteGroup reported a quarterly EPS of $3.03, beating estimates, although its revenue decreased by 4.3% year-over-year to $4.40 billion.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 72.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,474 shares of the construction company's stock after selling 14,189 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in PulteGroup were worth $563,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PHM. Ameriflex Group Inc. purchased a new position in shares of PulteGroup during the fourth quarter valued at approximately $37,000. TD Waterhouse Canada Inc. grew its position 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 purchasing an additional 105 shares during the period. American National Bank & Trust purchased a new stake in PulteGroup during the 1st quarter valued at $39,000. Quarry LP bought a new position in shares of PulteGroup during the 4th quarter valued at $43,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of PulteGroup in the first quarter worth $54,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

Shares of PulteGroup stock traded down $1.4090 during trading on Thursday, reaching $125.1310. 1,449,974 shares of the stock traded hands, compared to its average volume of 2,164,798. 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, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The business has a fifty day simple moving average of $113.26 and a two-hundred day simple moving average of $106.04. The company has a market capitalization of $24.69 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 0.38 and a beta of 1.22.

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 analysts' consensus estimates of $2.92 by $0.11. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The company's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.83 EPS. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PHM shares. Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price objective on shares of PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada boosted their target price on shares of PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Citigroup lifted their price target on shares of PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Barclays decreased their target price on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, PulteGroup presently has a consensus rating of "Moderate Buy" and an average price target of $135.31.

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.