Evergreen Capital Management LLC Acquires Shares of 2,797 PulteGroup, Inc. $PHM

Key Points

• Evergreen Capital Management LLC acquired 2,797 shares of PulteGroup, Inc. valued at approximately $288,000, indicating growing institutional interest in the company.
• Analyst ratings for PulteGroup have mostly been positive, with price targets set as high as **$150.00** by Wedbush, suggesting confidence in the company's performance.
• PulteGroup recently reported quarterly earnings of $3.03 per share, exceeding analysts' expectations and reflecting continued operational success despite a slight decline in revenue year-over-year.

Evergreen Capital Management LLC acquired a new stake in PulteGroup, Inc. (NYSE:PHM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,797 shares of the construction company's stock, valued at approximately $288,000.

Several other hedge funds also recently bought and sold shares of the business. Clough Capital Partners L P grew its position in PulteGroup by 29.4% in the 1st quarter. Clough Capital Partners L P now owns 159,139 shares of the construction company's stock valued at $16,359,000 after acquiring an additional 36,170 shares during the last quarter. Canada Pension Plan Investment Board grew its position in PulteGroup by 87.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 294,808 shares of the construction company's stock valued at $30,306,000 after acquiring an additional 137,627 shares during the last quarter. WPG Advisers LLC bought a new position in PulteGroup in the 1st quarter valued at $25,000. Trexquant Investment LP grew its position in PulteGroup by 192.6% in the 1st quarter. Trexquant Investment LP now owns 53,105 shares of the construction company's stock valued at $5,459,000 after acquiring an additional 34,957 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ grew its position in PulteGroup by 1.6% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 45,537 shares of the construction company's stock valued at $4,681,000 after acquiring an additional 701 shares during the last quarter. Institutional investors own 89.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Oppenheimer upped 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. Wedbush reissued an "outperform" rating and set a $150.00 price target on shares of PulteGroup in a research report on Wednesday, August 13th. Raymond James Financial reissued an "outperform" rating and set a $140.00 price target (up previously from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price target on PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, UBS Group increased their price target on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $136.46.

PulteGroup Price Performance

Shares of PHM stock opened at $132.03 on Wednesday. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The stock's 50-day moving average is $118.53 and its 200 day moving average is $107.46. The company has a market cap of $26.05 billion, a P/E ratio of 9.87, a PEG ratio of 0.39 and a beta of 1.27. 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 (NYSE:PHM - Get Free Report) last issued 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 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 the consensus estimate of $4.42 billion. During the same quarter last year, the company earned $3.83 earnings per share. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. 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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