Hsbc Holdings PLC Has $135.69 Million Position in PulteGroup, Inc. $PHM

Key Points

• HSBC Holdings PLC has reduced its stake in PulteGroup by 4.0%, selling 55,455 shares to own 1,320,876 shares worth approximately $135.69 million.
• Recent analysts' reports increased PulteGroup's target prices, with Citigroup raising its target to $132.00 and Evercore ISI increasing its target to $165.00, indicating a positive outlook.
• PulteGroup reported a quarterly EPS of $3.03, exceeding expectations of $2.92, although revenue declined 4.3% year-over-year to $4.40 billion.

Hsbc Holdings PLC reduced its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,320,876 shares of the construction company's stock after selling 55,455 shares during the period. Hsbc Holdings PLC owned 0.66% of PulteGroup worth $135,686,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. grew its stake in shares of PulteGroup by 18.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 18,219 shares of the construction company's stock valued at $1,873,000 after acquiring an additional 2,839 shares in the last quarter. Korea Investment CORP grew its stake in shares of PulteGroup by 31.1% in the first quarter. Korea Investment CORP now owns 240,826 shares of the construction company's stock valued at $24,757,000 after acquiring an additional 57,075 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in shares of PulteGroup by 7.9% in the first quarter. Aptus Capital Advisors LLC now owns 134,627 shares of the construction company's stock valued at $13,840,000 after acquiring an additional 9,847 shares in the last quarter. Brooklyn Investment Group lifted its position in PulteGroup by 48.2% during the first quarter. Brooklyn Investment Group now owns 1,803 shares of the construction company's stock worth $185,000 after purchasing an additional 586 shares during the period. Finally, FCG Investment Co lifted its position in PulteGroup by 139.4% during the first quarter. FCG Investment Co now owns 8,083 shares of the construction company's stock worth $831,000 after purchasing an additional 4,706 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PHM shares. Citigroup upped their price objective on shares of PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Evercore ISI increased their target price on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their target price on shares of PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada increased their target price on shares of 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 raised shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.31.

PulteGroup Stock Performance

Shares of PHM stock opened at $130.3980 on Wednesday. The company has a market cap of $25.73 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 0.38 and a beta of 1.22. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $112.80 and a 200-day moving average of $105.90.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping the consensus estimate of $2.92 by $0.11. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The company's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.83 EPS. On average, equities analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current 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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