J. Safra Sarasin Holding AG Reduces Position in PulteGroup, Inc. (NYSE:PHM)

Key Points

• J. Safra Sarasin Holding AG significantly reduced its stake in PulteGroup, Inc. by 88.8%, selling 158,852 shares, and now holds only 20,093 shares valued at approximately $2.07 million.
• Analysts have varied opinions on PulteGroup's stock; with price targets ranging from $98.00 to $165.00, the consensus rating is a "Moderate Buy" with a target price of $134.15.
• PulteGroup reported earnings of $3.03 per share, exceeding expectations, but revenue declined by 4.3% year-over-year to $4.40 billion.

J. Safra Sarasin Holding AG decreased its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 88.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,093 shares of the construction company's stock after selling 158,852 shares during the quarter. J. Safra Sarasin Holding AG's holdings in PulteGroup were worth $2,066,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriflex Group Inc. bought a new stake in PulteGroup during the fourth quarter valued at about $37,000. TD Waterhouse Canada Inc. boosted its holdings in 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 acquiring an additional 105 shares in the last quarter. American National Bank & Trust acquired a new stake in PulteGroup in the first quarter worth about $39,000. Quarry LP acquired a new stake in PulteGroup in the fourth quarter worth about $43,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in PulteGroup in the first quarter worth about $54,000. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Up 1.0%

NYSE PHM traded up $1.23 during trading hours on Tuesday, hitting $120.59. 366,227 shares of the company were exchanged, compared to its average volume of 2,172,386. The company has a 50 day moving average of $107.35 and a two-hundred day moving average of $105.14. The firm has a market cap of $23.79 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 0.34 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.

PulteGroup (NYSE:PHM - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $4.42 billion. During the same period in the prior year, the firm earned $3.83 EPS. The business's revenue was down 4.3% on a year-over-year basis. Equities research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note 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 research report on Wednesday, July 23rd. Barclays cut their price objective on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Finally, Evercore ISI boosted their price objective on PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PulteGroup has a consensus rating of "Moderate Buy" and a consensus target price of $134.15.

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.