Price T Rowe Associates Inc. MD Acquires 276,077 Shares of PulteGroup, Inc. $PHM

Key Points

• Price T Rowe Associates Inc. MD has increased its holdings in PulteGroup, Inc. by 21.2%, owning approximately 1.58 million shares valued at $162.4 million.
• PulteGroup reported $3.03 earnings per share for its latest quarter, surpassing estimates, with a revenue of $4.40 billion, though down 4.3% year-over-year.
• Analysts have raised their price targets for PulteGroup, with the average target now at $135.31, reflecting a consensus rating of "Moderate Buy".

Price T Rowe Associates Inc. MD boosted its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 21.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,579,792 shares of the construction company's stock after purchasing an additional 276,077 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.79% of PulteGroup worth $162,403,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. bought a new stake in PulteGroup during the 4th quarter valued at approximately $37,000. TD Waterhouse Canada Inc. lifted its position in shares of PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after acquiring an additional 105 shares during the period. American National Bank & Trust bought a new stake in shares of PulteGroup in the 1st quarter worth approximately $39,000. Quarry LP bought a new stake in shares of PulteGroup in the 4th quarter worth approximately $43,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of PulteGroup in the 1st quarter worth approximately $54,000. Institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

Shares of PulteGroup stock traded up $0.50 during midday trading on Thursday, hitting $131.53. 1,133,714 shares of the company were exchanged, compared to its average volume of 2,165,751. 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 cap of $25.95 billion, a P/E ratio of 9.83, a PEG ratio of 0.39 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 firm has a 50 day simple moving average of $116.19 and a 200-day simple moving average of $106.76.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping the consensus estimate of $2.92 by $0.11. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.PulteGroup's revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $3.83 EPS. Research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PHM. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Citigroup raised their price objective on PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price objective (up previously from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price objective on PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, UBS Group raised their price objective on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently 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.