Gulf International Bank UK Ltd Sells 5,196 Shares of PulteGroup, Inc. $PHM

Key Points

• Gulf International Bank UK Ltd has reduced its stake in PulteGroup by 29.8%, now holding 12,227 shares worth approximately $1.26 million.
• PulteGroup reported $3.03 earnings per share for the last quarter, exceeding analyst expectations of $2.92, although its revenue declined by 4.3% year-over-year.
• Several analysts have set new price targets for PulteGroup, with Oppenheimer raising the target to $140.00 and Citigroup adjusting it to $132.00, indicating a consensus rating of "Moderate Buy."

Gulf International Bank UK Ltd decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 29.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,227 shares of the construction company's stock after selling 5,196 shares during the quarter. Gulf International Bank UK Ltd's holdings in PulteGroup were worth $1,256,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. TD Waterhouse Canada Inc. increased its stake in shares of PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock valued at $38,000 after purchasing an additional 105 shares in the last quarter. NDVR Inc. increased its holdings in PulteGroup by 6.0% in the fourth quarter. NDVR Inc. now owns 1,984 shares of the construction company's stock valued at $216,000 after buying an additional 112 shares during the last quarter. Coppell Advisory Solutions LLC boosted its stake in PulteGroup by 10.0% in 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 in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of PulteGroup by 15.9% during the first quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company's stock worth $93,000 after buying an additional 125 shares during the period. Finally, Signaturefd LLC increased its holdings in PulteGroup by 1.9% in the first quarter. Signaturefd LLC now owns 6,644 shares of the construction company's stock valued at $683,000 after buying an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Trading Up 1.7%

PHM traded up $2.1880 during mid-day trading on Tuesday, hitting $130.3980. 1,816,670 shares of the stock were exchanged, compared to its average volume of 2,169,905. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The company has a market cap of $25.73 billion, a PE ratio of 9.75, a PEG ratio of 0.38 and a beta of 1.22. The firm's fifty day moving average is $112.30 and its two-hundred day moving average is $105.73.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PHM. Barclays dropped their price target on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company upped their target price on shares of PulteGroup from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group boosted their target price on shares of PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada raised their price objective on shares of PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, PulteGroup currently has a consensus rating of "Moderate Buy" and an average price target of $135.31.

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.