JPMorgan Chase & Co. Purchases 1,001,290 Shares of PulteGroup, Inc. (NYSE:PHM)

Key Points

• JPMorgan Chase & Co. increased its stake in PulteGroup by 40.3%, owning 3,486,330 shares valued at approximately $358 million at the end of the last reporting period.
• PulteGroup reported earnings per share (EPS) of $3.03 for the latest quarter, outperforming expectations, although its quarterly revenue of $4.40 billion slightly missed analyst estimates.
• Analysts maintain a positive outlook on PulteGroup with an average rating of "Moderate Buy" and a consensus target price of $134.15, signaling potential growth in the stock's value.

JPMorgan Chase & Co. lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 40.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,486,330 shares of the construction company's stock after buying an additional 1,001,290 shares during the period. JPMorgan Chase & Co. owned about 1.74% of PulteGroup worth $358,395,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of PulteGroup by 2,586.8% in the first quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company's stock valued at $119,958,000 after buying an additional 1,123,471 shares during the period. AustralianSuper Pty Ltd increased its stake in shares of PulteGroup by 219.2% in the first quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company's stock valued at $106,820,000 after buying an additional 713,534 shares during the period. Man Group plc increased its stake in shares of PulteGroup by 136.8% in the fourth quarter. Man Group plc now owns 988,963 shares of the construction company's stock valued at $107,698,000 after buying an additional 571,251 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of PulteGroup in the fourth quarter valued at about $47,133,000. Finally, Bridgewater Associates LP increased its stake in shares of PulteGroup by 118.8% in the fourth quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company's stock valued at $85,332,000 after buying an additional 425,492 shares during the period. Institutional investors and hedge funds own 89.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Royal Bank Of Canada upped their target price on PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Citigroup increased their price target on PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Wedbush reaffirmed an "outperform" rating and set a $150.00 price target on shares of PulteGroup in a research report on Wednesday. Finally, Oppenheimer raised their target price on PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $135.31.

PulteGroup Price Performance

PHM stock traded down $1.20 during mid-day trading on Thursday, hitting $128.76. 2,489,578 shares of the stock were exchanged, compared to its average volume of 2,130,815. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. The business has a fifty day moving average price of $111.19 and a 200 day moving average price of $105.67. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The stock has a market capitalization of $25.40 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 0.38 and a beta of 1.22.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly 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 company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the previous year, the business earned $3.83 EPS. PulteGroup's revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

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.