National Bank of Canada FI Has $17.57 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Key Points

• National Bank of Canada FI has increased its stake in PulteGroup, Inc. by 47.9% during the first quarter, now owning 170,929 shares valued at approximately $17.57 million.
• PulteGroup reported a quarterly EPS of $3.03, exceeding analysts' expectations, though its revenue decreased by 4.3% year-over-year.
• Several analysts have upgraded PulteGroup's ratings, with UBS raising the target price from $141 to $150 and Seaport Res Ptn upgrading it to a "strong-buy" rating.

National Bank of Canada FI increased its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 47.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,929 shares of the construction company's stock after acquiring an additional 55,344 shares during the quarter. National Bank of Canada FI owned about 0.09% of PulteGroup worth $17,571,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. increased its holdings in shares of PulteGroup by 35.2% during the 1st quarter. Citigroup Inc. now owns 796,297 shares of the construction company's stock worth $81,859,000 after purchasing an additional 207,392 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of PulteGroup by 10.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 349,906 shares of the construction company's stock worth $35,970,000 after purchasing an additional 33,654 shares during the period. Roof Eidam Maycock Peralta LLC increased its holdings in shares of PulteGroup by 7.9% during the 1st quarter. Roof Eidam Maycock Peralta LLC now owns 15,415 shares of the construction company's stock worth $1,585,000 after purchasing an additional 1,130 shares during the period. Chicago Partners Investment Group LLC bought a new position in shares of PulteGroup during the 1st quarter worth about $256,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of PulteGroup by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,374,328 shares of the construction company's stock worth $141,281,000 after purchasing an additional 22,837 shares during the period. Institutional investors own 89.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PHM. Barclays dropped their price objective on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Oppenheimer boosted their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. UBS Group boosted their price objective on shares of PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Raymond James Financial reiterated an "outperform" rating and set a $140.00 target price (up from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.31.

PulteGroup Price Performance

Shares of NYSE PHM 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 2,177,821. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The stock's fifty day simple moving average is $110.64 and its two-hundred day simple moving average is $105.59. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $25.40 billion, a P/E ratio of 9.62, a PEG ratio of 0.36 and a beta of 1.22.

PulteGroup (NYSE:PHM - Get Free Report) last announced 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 for 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% compared to the same quarter last year. During the same period in the previous year, the business earned $3.83 EPS. As a group, analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal 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.