PulteGroup, Inc. $PHM Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A has reduced its stake in PulteGroup, Inc. by 35.7%, selling 70,453 shares and now holding 127,134 shares valued at approximately $13 million as of their latest SEC filing.
• PulteGroup reported earnings per share of $3.03 for the recent quarter, surpassing estimates, although revenue of $4.40 billion fell slightly short of analyst expectations.
• Institutional investors dominate PulteGroup's ownership, holding about 89.90% of shares, with significant increases in positions from firms like JPMorgan Chase & Co. and Northern Trust Corp.

Credit Agricole S A reduced its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 35.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,134 shares of the construction company's stock after selling 70,453 shares during the quarter. Credit Agricole S A owned 0.06% of PulteGroup worth $13,069,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PHM. Nuveen LLC purchased a new stake in PulteGroup in the 1st quarter worth about $213,092,000. Pacer Advisors Inc. grew its stake in PulteGroup by 2,586.8% in the 1st quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company's stock worth $119,958,000 after acquiring an additional 1,123,471 shares in the last quarter. JPMorgan Chase & Co. grew its stake in PulteGroup by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company's stock worth $358,395,000 after acquiring an additional 1,001,290 shares in the last quarter. AustralianSuper Pty Ltd boosted its stake in shares of PulteGroup by 219.2% during the first quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company's stock valued at $106,820,000 after purchasing an additional 713,534 shares in the last quarter. Finally, Man Group plc boosted its stake in shares of PulteGroup by 136.8% during the fourth quarter. Man Group plc now owns 988,963 shares of the construction company's stock valued at $107,698,000 after purchasing an additional 571,251 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Wedbush restated an "outperform" rating and issued a $150.00 target price on shares of PulteGroup in a research note on Wednesday, August 13th. Raymond James Financial restated an "outperform" rating and issued a $140.00 target price (up from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. UBS Group raised their target price on shares of PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Citigroup raised their target price on shares of PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a research note on Wednesday, July 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.31.

PulteGroup Stock Performance

Shares of PulteGroup stock traded down $0.02 during trading on Tuesday, hitting $132.26. 337,343 shares of the company's stock were exchanged, compared to its average volume of 2,163,449. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. The business has a 50-day simple moving average of $114.90 and a 200-day simple moving average of $106.42. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The stock has a market capitalization of $26.09 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 0.39 and a beta of 1.22.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The company had revenue of $4.40 billion during the quarter, compared to analysts' expectations of $4.42 billion. During the same quarter in the previous year, the company earned $3.83 earnings per share. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. On average, research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

About PulteGroup

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.