Corient IA LLC Invests $514,000 in PulteGroup, Inc. (NYSE:PHM)

Key Points

• Corient IA LLC acquired 5,000 shares of PulteGroup stock valued at approximately **$514,000** in the first quarter, reflecting growing institutional interest in the company.
• Several brokerages have recently increased their price targets on PulteGroup, with **Wells Fargo** raising theirs from **$125.00 to $135.00**, while **Oppenheimer** set theirs from **$132.00 to $140.00**.
• PulteGroup reported an EPS of **$3.03** for the last quarter, exceeding analysts' expectations, although revenue fell **4.3%** year-over-year to **$4.40 billion**.

Corient IA LLC acquired a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 5,000 shares of the construction company's stock, valued at approximately $514,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameriflex Group Inc. acquired a new position in shares of PulteGroup in the 4th quarter valued at approximately $37,000. TD Waterhouse Canada Inc. grew 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 valued at $38,000 after purchasing an additional 105 shares during the period. American National Bank & Trust acquired a new position in shares of PulteGroup in the 1st quarter valued at approximately $39,000. Quarry LP acquired a new position in shares of PulteGroup in the 4th quarter valued at 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 institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PHM. Wells Fargo & Company boosted their price objective on PulteGroup from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Oppenheimer boosted their price objective on PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, July 23rd. Evercore ISI upped their price target on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Wedbush reaffirmed an "outperform" rating and set a $150.00 price target on shares of PulteGroup in a research report on Wednesday. Finally, Barclays reduced their price target on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $135.31.

PulteGroup Trading Up 0.2%

Shares of PulteGroup stock opened at $128.82 on Friday. 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 $25.42 billion, a P/E ratio of 9.63, a P/E/G ratio of 0.38 and a beta of 1.22. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The business's 50 day moving average is $111.76 and its 200-day moving average is $105.71.

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 analysts' consensus estimates 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 business posted $3.83 EPS. The business's revenue was down 4.3% compared to the same quarter last year. Equities research analysts predict 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.

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