Commerce Bank Sells 3,949 Shares of PulteGroup, Inc. (NYSE:PHM)

Key Points

• Commerce Bank reduced its holdings in PulteGroup, Inc. by 15.9%, selling 3,949 shares, with remaining shares valued at approximately $2.15 million.
• PulteGroup reported a quarterly EPS of $3.03, exceeding estimates, although revenues declined by 4.3% year-over-year.
• Analysts have diverse views on PulteGroup, with six holding a "hold" rating, nine a "buy," and one a "strong buy," reflecting an overall consensus price target of $134.15.

Commerce Bank lessened its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 15.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,932 shares of the construction company's stock after selling 3,949 shares during the quarter. Commerce Bank's holdings in PulteGroup were worth $2,152,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PHM. Ameriflex Group Inc. purchased a new stake in PulteGroup during the 4th quarter worth $37,000. TD Waterhouse Canada Inc. boosted its holdings 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 valued at $38,000 after buying an additional 105 shares during the period. American National Bank & Trust acquired a new position in shares of PulteGroup in the 1st quarter valued at about $39,000. Quarry LP acquired a new position in PulteGroup during the 4th quarter valued at about $43,000. Finally, Catalyst Capital Advisors LLC acquired a new position in PulteGroup during the 1st quarter valued at about $54,000. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Stock Up 1.5%

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

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 company had revenue of $4.40 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $3.83 earnings per share. On average, sell-side analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays dropped their price target on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and issued a $135.00 target price on shares of PulteGroup in a report on Tuesday, April 22nd. Evercore ISI boosted their target price on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Wells Fargo & Company boosted their target price on shares of PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.