Allianz SE Decreases Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Key Points

• Allianz SE reduced its holdings in PulteGroup, Inc. by 43.2% during the first quarter, leaving it with 3,040 shares valued at approximately $313,000.
• Analyst ratings for PulteGroup include several "outperform" ratings, with target prices rising to as much as $140.00, reflecting confidence in the company's performance.
• PulteGroup reported an EPS of $3.03 for the latest quarter, surpassing estimates, despite a 4.3% year-over-year revenue decline.

Allianz SE lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 43.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,040 shares of the construction company's stock after selling 2,314 shares during the quarter. Allianz SE's holdings in PulteGroup were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PHM. Trexquant Investment LP bought a new position in shares of PulteGroup during the fourth quarter valued at approximately $1,976,000. World Investment Advisors raised its holdings in shares of PulteGroup by 26.6% during the fourth quarter. World Investment Advisors now owns 12,047 shares of the construction company's stock valued at $1,312,000 after acquiring an additional 2,532 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of PulteGroup during the fourth quarter valued at approximately $7,642,000. Aviva PLC raised its holdings in shares of PulteGroup by 44.6% during the fourth quarter. Aviva PLC now owns 129,725 shares of the construction company's stock valued at $14,127,000 after acquiring an additional 40,002 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of PulteGroup by 68.5% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 279,792 shares of the construction company's stock valued at $30,469,000 after acquiring an additional 113,772 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Up 1.5%

Shares of NYSE:PHM traded up $1.78 on Tuesday, hitting $121.14. 1,856,501 shares of the company traded hands, compared to its average volume of 2,379,732. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $107.35 and a 200-day simple moving average of $105.14. The company has a market cap of $23.90 billion, a PE ratio of 9.05, a PEG ratio of 0.35 and a beta of 1.22.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on PHM. Royal Bank Of Canada upped their target price on PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a 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 report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price objective on PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. UBS Group increased their price objective on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Barclays decreased their price objective on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Six investment 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, PulteGroup presently has an average rating of "Moderate Buy" and an average target price of $134.15.

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.