PulteGroup, Inc. (NYSE:PHM) Holdings Lowered by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in PulteGroup, Inc. by 1.2%, now holding approximately 1.84 million shares worth about $188.8 million.
• Recent research reports show mixed ratings for PulteGroup, with price targets ranging from $98.00 to $150.00, and a consensus rating of "Moderate Buy."
• PulteGroup reported earnings of $3.03 per share for the recent quarter, exceeding estimates, though revenue fell by 4.3% year-over-year.

Deutsche Bank AG lessened its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 1.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,837,023 shares of the construction company's stock after selling 22,006 shares during the period. Deutsche Bank AG owned about 0.92% of PulteGroup worth $188,846,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new stake in shares of PulteGroup in the 4th quarter valued at $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 valued at $38,000 after acquiring an additional 105 shares in the last quarter. American National Bank & Trust purchased a new stake in PulteGroup during the first quarter worth about $39,000. Quarry LP purchased a new stake in PulteGroup during the fourth quarter worth about $43,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of PulteGroup in the first quarter valued at approximately $54,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on PHM. Wells Fargo & Company lifted their target price on PulteGroup from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada raised their price objective on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. Wedbush reissued an "outperform" rating and issued a $135.00 target price on shares of PulteGroup in a report on Tuesday, April 22nd. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price objective (up from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Finally, Evercore ISI lifted their target price on shares of PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Six investment 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 stock. According to data from MarketBeat, PulteGroup currently has a consensus rating of "Moderate Buy" and a consensus price target of $134.15.

PulteGroup Stock Down 1.2%

Shares of PHM stock traded down $1.41 during trading hours on Monday, reaching $120.24. The company had a trading volume of 1,630,897 shares, compared to its average volume of 2,167,996. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The stock's fifty day simple moving average is $109.59 and its 200 day simple moving average is $105.30. The company has a market capitalization of $23.72 billion, a P/E ratio of 8.99, a price-to-earnings-growth ratio of 0.36 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 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. The company had revenue of $4.40 billion for 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%. The firm's 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 earnings per share. As a group, sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal 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.