National Pension Service Grows Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Key Points

• The National Pension Service increased its holdings in PulteGroup, Inc. by 13.3%, owning a total of 453,480 shares valued at approximately $46.6 million.
• PulteGroup reported earnings of $3.03 per share for the most recent quarter, exceeding analysts' expectations of $2.92, though its revenue declined 4.3% year-over-year.
• Analysts have a consensus rating of "Moderate Buy" for PulteGroup, with a target price averaging $135.31, reflecting optimism about the company's future performance.

National Pension Service increased its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 453,480 shares of the construction company's stock after buying an additional 53,221 shares during the period. National Pension Service owned about 0.23% of PulteGroup worth $46,618,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of PulteGroup by 40.3% during the first 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 during the period. Northern Trust Corp grew its holdings in PulteGroup by 14.9% in the 4th quarter. Northern Trust Corp now owns 2,425,941 shares of the construction company's stock valued at $264,185,000 after buying an additional 315,148 shares in the last quarter. Nuveen LLC acquired a new position in shares of PulteGroup in the 1st quarter valued at $213,092,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in PulteGroup by 9.1% during 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 acquiring an additional 169,736 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in PulteGroup by 14.3% during 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 during the period. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Stock Performance

Shares of PulteGroup stock traded up $0.27 on Friday, reaching $128.82. 1,920,227 shares of the company traded hands, compared to its average volume of 2,149,599. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week 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. The firm has a market capitalization of $25.42 billion, a PE ratio of 9.63, a PEG ratio of 0.38 and a beta of 1.22. The company has a 50 day moving average of $111.76 and a 200 day moving average of $105.71.

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, topping 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 business 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 company's revenue was down 4.3% on a year-over-year basis. Equities analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PHM. Oppenheimer raised their price target on PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price objective on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Barclays dropped their target price on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Evercore ISI upped their target price on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Finally, Raymond James Financial reissued an "outperform" rating and issued a $140.00 price target (up previously from $115.00) on shares of PulteGroup in a report 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $135.31.

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.