FCG Investment Co Acquires 4,706 Shares of PulteGroup, Inc. (NYSE:PHM)

Key Points

• FCG Investment Co significantly increased its stake in PulteGroup by 139.4%, acquiring an additional 4,706 shares to bring its total holdings to 8,083 shares valued at approximately $831,000.
• Wall Street analysts have boosted their price targets for PulteGroup, with Oppenheimer raising theirs from $132.00 to $140.00 and others also showing a positive outlook, leading to an average target price of $135.31.
• PulteGroup reported a quarterly EPS of $3.03, exceeding analyst expectations of $2.92, although its revenue is down 4.3% year-over-year, totaling $4.40 billion for the quarter.

FCG Investment Co lifted its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 139.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,083 shares of the construction company's stock after purchasing an additional 4,706 shares during the period. FCG Investment Co's holdings in PulteGroup were worth $831,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Tocqueville Asset Management L.P. increased its stake in PulteGroup by 2.0% during the first quarter. Tocqueville Asset Management L.P. now owns 5,062 shares of the construction company's stock valued at $520,000 after acquiring an additional 100 shares during the period. TD Waterhouse Canada Inc. increased its stake in PulteGroup by 43.0% during the fourth 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 during the period. NDVR Inc. increased its stake in PulteGroup by 6.0% during the fourth quarter. NDVR Inc. now owns 1,984 shares of the construction company's stock valued at $216,000 after acquiring an additional 112 shares during the period. Coppell Advisory Solutions LLC increased its stake in PulteGroup by 10.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,271 shares of the construction company's stock valued at $138,000 after acquiring an additional 116 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in PulteGroup by 15.9% during the first quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company's stock valued at $93,000 after acquiring an additional 125 shares during the period. 89.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PHM. Oppenheimer boosted their price target on PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price objective on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Citigroup lifted their price objective on PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Wedbush reaffirmed an "outperform" rating and set a $150.00 price objective on shares of PulteGroup in a report on Wednesday. Five 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $135.31.

PulteGroup Stock Up 0.2%

NYSE PHM opened at $128.82 on Friday. The firm has a market cap of $25.42 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 0.38 and a beta of 1.22. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The stock's 50 day simple moving average is $111.76 and its 200 day simple moving average is $105.71. 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 released its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%. PulteGroup's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.83 EPS. As a group, sell-side analysts forecast 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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