Forsta AP Fonden Acquires 45,600 Shares of PulteGroup, Inc. (NYSE:PHM)

Key Points

• Forsta AP Fonden increased its holdings in PulteGroup by 105.1%, bringing its total shares to 89,000, valued at $9.15 million.
• PulteGroup recently reported $3.03 earnings per share for the quarter, exceeding analysts' expectations by 11 cents, despite a 4.3% year-over-year revenue decline.
• Several analysts have upgraded PulteGroup's stock ratings, with Evercore ISI raising its price target to $165, contributing to an overall average target price of $134.15.

Forsta AP Fonden increased its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 105.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,000 shares of the construction company's stock after acquiring an additional 45,600 shares during the period. Forsta AP Fonden's holdings in PulteGroup were worth $9,149,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PHM. Treasurer of the State of North Carolina increased its stake in PulteGroup by 0.7% in the 4th quarter. Treasurer of the State of North Carolina now owns 124,798 shares of the construction company's stock valued at $13,591,000 after buying an additional 848 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in PulteGroup by 227.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 138,340 shares of the construction company's stock valued at $15,067,000 after buying an additional 96,049 shares during the last quarter. Townsquare Capital LLC increased its stake in PulteGroup by 91.0% in the 4th quarter. Townsquare Capital LLC now owns 13,516 shares of the construction company's stock valued at $1,472,000 after buying an additional 6,438 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new stake in PulteGroup in the 4th quarter valued at about $224,000. Finally, Advisors Capital Management LLC increased its stake in PulteGroup by 7.3% in the 4th quarter. Advisors Capital Management LLC now owns 4,041 shares of the construction company's stock valued at $440,000 after buying an additional 276 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Trading Down 0.9%

Shares of PHM traded down $1.20 during trading hours on Thursday, reaching $128.76. 2,489,578 shares of the company traded hands, compared to its average volume of 2,130,815. The company's fifty day moving average price is $111.19 and its two-hundred day moving average price is $105.67. The company has a market capitalization of $25.40 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 0.38 and a beta of 1.22. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, beating analysts' consensus estimates of $2.92 by $0.11. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.83 EPS. Equities research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

PHM has been the subject of several analyst reports. Royal Bank Of Canada increased their price objective on shares of PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company raised their price target on shares of PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price objective on shares of PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Wedbush reissued an "outperform" rating and issued a $150.00 price target on shares of PulteGroup in a report on Wednesday. Finally, UBS Group raised their price target on shares of PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus 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.