Freedom Investment Management Inc. Sells 8,879 Shares of PulteGroup, Inc. $PHM

Key Points

• Freedom Investment Management Inc. has reduced its stake in PulteGroup, Inc. by 55.0% in the first quarter, now holding 7,255 shares valued at approximately $746,000.
• Analysts have raised target prices for PulteGroup, with Raymond James issuing a target of $140.00 and UBS Group raising it to $150.00, indicating strong confidence in the stock.
• PulteGroup reported $3.03 EPS for the most recent quarter, exceeding estimates, although revenue decreased by 4.3% year-over-year.

Freedom Investment Management Inc. trimmed its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 55.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,255 shares of the construction company's stock after selling 8,879 shares during the period. Freedom Investment Management Inc.'s holdings in PulteGroup were worth $746,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ameriflex Group Inc. acquired a new stake in shares of PulteGroup during the 4th quarter valued at approximately $37,000. TD Waterhouse Canada Inc. grew 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 purchasing an additional 105 shares in the last quarter. American National Bank & Trust bought a new position in shares of PulteGroup in the first quarter worth $39,000. Quarry LP bought a new position in PulteGroup during the fourth quarter valued at about $43,000. Finally, Catalyst Capital Advisors LLC bought a new position in PulteGroup during the first quarter valued at about $54,000. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Trading Up 0.4%

Shares of PulteGroup stock traded up $0.50 during trading hours on Thursday, hitting $131.53. The company's stock had a trading volume of 1,133,714 shares, compared to its average volume of 2,042,937. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The stock has a 50 day moving average of $116.84 and a 200 day moving average of $106.94. The company has a market capitalization of $25.95 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.39 and a beta of 1.22. 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 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The business's revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.83 EPS. Analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on PHM shares. Wells Fargo & Company upped 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. UBS Group lifted their price target on 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 issued a $150.00 target price on shares of PulteGroup in a report on Wednesday, August 13th. Royal Bank Of Canada upped their price target on PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. Finally, Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $135.31.

PulteGroup 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.