Foundations Investment Advisors LLC Makes New Investment in PulteGroup, Inc. (NYSE:PHM)

Key Points

• Foundations Investment Advisors LLC acquired a new position in PulteGroup, Inc., purchasing 2,330 shares valued at approximately $240,000.
• Various hedge funds, including TD Waterhouse Canada Inc. and NDVR Inc., have also increased their stakes in PulteGroup, indicating growing institutional interest with 89.90% of the stock owned by institutional investors.
• PulteGroup's recent earnings report revealed an EPS of $3.03, exceeding analyst estimates, although revenue for the quarter was down 4.3% compared to last year.

Foundations Investment Advisors LLC purchased a new stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,330 shares of the construction company's stock, valued at approximately $240,000.

A number of other hedge funds also recently bought and sold shares of PHM. Ameriflex Group Inc. acquired a new position in PulteGroup in the 4th quarter valued at approximately $37,000. TD Waterhouse Canada Inc. grew its holdings in shares of PulteGroup by 43.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after purchasing an additional 105 shares in the last quarter. American National Bank & Trust bought a new position in PulteGroup in the first quarter worth $39,000. Quarry LP acquired a new stake in PulteGroup during the fourth quarter worth $43,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in PulteGroup during the first quarter worth $54,000. 89.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Seaport Res Ptn raised shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. UBS Group raised their target price on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. 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. Raymond James Financial reiterated an "outperform" rating and set a $140.00 target price (up previously from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Finally, Oppenheimer upped their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $134.15.

PulteGroup Stock Up 2.4%

PHM traded up $2.79 on Monday, hitting $119.54. 1,965,666 shares of the company were exchanged, compared to its average volume of 2,185,742. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The company has a market cap of $23.59 billion, a PE ratio of 8.93, a PEG ratio of 0.34 and a beta of 1.22. 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 stock's fifty day moving average is $106.92 and its 200-day moving average is $105.13.

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