Kovitz Investment Group Partners LLC Acquires 46,409 Shares of PulteGroup, Inc. (NYSE:PHM)

Key Points

• Kovitz Investment Group Partners LLC significantly increased its stake in PulteGroup, Inc. by 474.2%, acquiring 46,409 additional shares in the 1st quarter, bringing its total holdings to 56,195 shares worth approximately $5.8 million.
• Institutional investors collectively own 89.90% of PulteGroup’s stock, with several hedge funds increasing their positions, including JPMorgan Chase & Co., which grew its stake by 40.3%.
• PulteGroup recently reported an EPS of $3.03 for the quarter, exceeding expectations, despite a 4.3% drop in quarterly revenue compared to the previous year, leading analysts to anticipate a fiscal year EPS of 12.32.

Kovitz Investment Group Partners LLC lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 474.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,195 shares of the construction company's stock after acquiring an additional 46,409 shares during the period. Kovitz Investment Group Partners LLC's holdings in PulteGroup were worth $5,777,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in PulteGroup by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company's stock worth $358,395,000 after purchasing an additional 1,001,290 shares in the last quarter. Northern Trust Corp grew its position in PulteGroup by 14.9% in the 4th quarter. Northern Trust Corp now owns 2,425,941 shares of the construction company's stock worth $264,185,000 after purchasing an additional 315,148 shares in the last quarter. Nuveen LLC bought a new stake in PulteGroup in the 1st quarter worth about $213,092,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in PulteGroup by 9.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,033,776 shares of the construction company's stock worth $221,478,000 after purchasing an additional 169,736 shares in the last quarter. Finally, Deutsche Bank AG grew its position in PulteGroup by 14.3% in the 4th quarter. Deutsche Bank AG now owns 1,859,029 shares of the construction company's stock worth $202,448,000 after purchasing an additional 232,939 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $128.82 on Friday. The company's fifty day moving average price is $111.76 and its 200-day moving average price is $105.71. The firm has a market capitalization of $25.42 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 0.38 and a beta of 1.22. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77.

PulteGroup (NYSE:PHM - Get Free Report) last released its 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 net margin of 15.50% and a return on equity of 21.01%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same quarter last year, the firm earned $3.83 EPS. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wedbush reaffirmed an "outperform" rating and issued a $150.00 price objective on shares of PulteGroup in a research report on Wednesday. Barclays dropped their target price 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. UBS Group upped their price target on shares of PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Citigroup upped their price target on shares of PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company upped their price target 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. Five 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, PulteGroup presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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