PulteGroup, Inc. (NYSE:PHM) Stake Lowered by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd has reduced its holdings in PulteGroup, Inc. by 50.5%, now owning 18,036 shares valued at approximately $1,835,000.
• Analysts have set new price targets for PulteGroup, with several firms upgrading their ratings and increasing target prices, the average target now at $134.15.
• PulteGroup reported $3.03 EPS for the last quarter, exceeding expectations and showing a 15.50% net margin despite a 4.3% revenue decline year-over-year.

Mediolanum International Funds Ltd decreased its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 50.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,036 shares of the construction company's stock after selling 18,431 shares during the period. Mediolanum International Funds Ltd's holdings in PulteGroup were worth $1,835,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Franklin Resources Inc. increased its position in PulteGroup by 6.1% during the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock worth $1,300,034,000 after purchasing an additional 683,592 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of PulteGroup by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company's stock worth $556,465,000 after purchasing an additional 64,947 shares during the last quarter. Northern Trust Corp grew its holdings in shares of PulteGroup by 14.9% during the fourth quarter. Northern Trust Corp now owns 2,425,941 shares of the construction company's stock worth $264,185,000 after buying an additional 315,148 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of PulteGroup by 9.1% in the fourth 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 valued at $221,478,000 after buying an additional 169,736 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of PulteGroup by 14.3% during the fourth quarter. Deutsche Bank AG now owns 1,859,029 shares of the construction company's stock valued at $202,448,000 after buying an additional 232,939 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PHM has been the subject of several analyst reports. Oppenheimer boosted their price target on PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Evercore ISI upped their target price on PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada increased their target price on PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their price target on PulteGroup from $125.00 to $135.00 and gave the company an "overweight" 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 research note on Tuesday, July 22nd. Six equities 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 company's stock. According to data from MarketBeat, PulteGroup currently has an average rating of "Moderate Buy" and a consensus target price of $134.15.

PulteGroup Stock Up 2.8%

PHM traded up $3.18 during trading on Friday, hitting $116.10. The company had a trading volume of 1,015,741 shares, compared to its average volume of 2,179,997. The company has a market cap of $22.91 billion, a PE ratio of 8.67, a P/E/G ratio of 0.33 and a beta of 1.29. The business has a 50-day moving average of $106.55 and a 200-day moving average of $105.25. 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, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last released its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the previous year, the firm earned $3.83 EPS. The company's revenue was down 4.3% on a year-over-year basis. As a group, analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

About PulteGroup

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.