Eastern Bank Trims Holdings in PulteGroup, Inc. (NYSE:PHM)

Eastern Bank reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 137,720 shares of the construction company's stock after selling 5,020 shares during the period. Eastern Bank owned about 0.07% of PulteGroup worth $14,158,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new position in shares of PulteGroup in the fourth quarter worth $37,000. TD Waterhouse Canada Inc. increased its stake in shares of PulteGroup by 43.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after buying an additional 105 shares during the period. American National Bank & Trust purchased a new position in shares of PulteGroup in the first quarter worth $39,000. Quarry LP purchased a new position in shares of PulteGroup in the fourth quarter worth $43,000. Finally, Catalyst Capital Advisors LLC purchased a new position 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.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PHM shares. UBS Group lifted their price target on shares of PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Wedbush restated an "outperform" rating and set a $135.00 target price on shares of PulteGroup in a report on Tuesday, April 22nd. 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 report on Wednesday, July 23rd. Citigroup boosted their target price on shares of PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Evercore ISI lifted 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. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $134.15.

PulteGroup Stock Performance

Shares of NYSE PHM traded up $3.83 during midday trading on Friday, hitting $116.75. 2,028,856 shares of the company's stock traded hands, compared to its average volume of 2,187,259. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The stock has a market capitalization of $23.03 billion, a price-to-earnings ratio of 8.73, a price-to-earnings-growth ratio of 0.33 and a beta of 1.29. 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 firm has a fifty day moving average of $106.55 and a 200 day moving average of $105.25.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly 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 net margin of 15.50% and a return on equity of 21.01%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the prior year, the firm earned $3.83 EPS. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share 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.