PulteGroup, Inc. (NYSE:PHM) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in PulteGroup, Inc. by 8.6%, selling 246,163 shares, and now owns approximately 1.30% of the company valued at $268.4 million.
• Several analysts have upgraded PulteGroup's stock ratings and raised price targets, with a consensus price target now at $134.15, indicating a generally optimistic outlook.
• PulteGroup reported earnings of $3.03 per share for the latest quarter, exceeding expectations, but revenue decreased by 4.3% compared to the prior year.

Invesco Ltd. cut its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 8.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,611,224 shares of the construction company's stock after selling 246,163 shares during the quarter. Invesco Ltd. owned about 1.30% of PulteGroup worth $268,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Merit Financial Group LLC increased its holdings in shares of PulteGroup by 20.5% in the 1st quarter. Merit Financial Group LLC now owns 15,388 shares of the construction company's stock worth $1,582,000 after buying an additional 2,613 shares during the last quarter. Vest Financial LLC grew its holdings in shares of PulteGroup by 1,311.3% during the 1st quarter. Vest Financial LLC now owns 312,723 shares of the construction company's stock valued at $32,148,000 after purchasing an additional 290,564 shares during the last quarter. Hudson Capital Management LLC grew its holdings in shares of PulteGroup by 8.6% during the 1st quarter. Hudson Capital Management LLC now owns 41,305 shares of the construction company's stock valued at $4,246,000 after purchasing an additional 3,266 shares during the last quarter. NBC Securities Inc. lifted its stake in PulteGroup by 103,800.0% in the first quarter. NBC Securities Inc. now owns 5,195 shares of the construction company's stock worth $534,000 after purchasing an additional 5,190 shares during the last quarter. Finally, Reyes Financial Architecture Inc. lifted its stake in PulteGroup by 42.1% in the first quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company's stock worth $79,000 after purchasing an additional 228 shares during the last quarter. Institutional investors own 89.90% of the company's stock.

PulteGroup Trading Down 0.9%

PHM stock traded down $1.20 during trading on Thursday, hitting $128.76. The company had a trading volume of 2,489,578 shares, compared to its average volume of 2,130,815. The firm has a market capitalization of $25.40 billion, a P/E ratio of 9.62, a PEG 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 50 day simple moving average of $111.19 and a 200-day simple moving average of $105.67. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same period in the previous year, the company earned $3.83 earnings per share. The business's quarterly revenue was down 4.3% compared to the same quarter last year. As a group, research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on PHM. Evercore ISI boosted their price target on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 23rd. Barclays cut their price target on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Wedbush reaffirmed an "outperform" rating and set a $150.00 target price on shares of PulteGroup in a research note on Wednesday. Raymond James Financial reissued an "outperform" rating and set a $140.00 price target (up from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Finally, UBS Group lifted 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. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, PulteGroup has a consensus 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.