PulteGroup, Inc. (NYSE:PHM) Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. reduced its holdings in PulteGroup by 12.2% during the first quarter, owning 35,879 shares valued at approximately $3.7 million after selling 5,002 shares.
• Merit Financial Group LLC and Vest Financial LLC significantly increased their stakes in PulteGroup by 20.5% and 1,311.3%, respectively, highlighting growing investor interest.
• PulteGroup reported an earnings per share (EPS) of $3.03 for the latest quarter, surpassing analyst estimates of $2.92, despite a 4.3% year-over-year revenue decline.

Ethic Inc. trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 12.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,879 shares of the construction company's stock after selling 5,002 shares during the quarter. Ethic Inc.'s holdings in PulteGroup were worth $3,697,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Merit Financial Group LLC raised its stake in shares of PulteGroup by 20.5% during the 1st quarter. Merit Financial Group LLC now owns 15,388 shares of the construction company's stock worth $1,582,000 after buying an additional 2,613 shares during the period. Vest Financial LLC raised its stake in shares of PulteGroup by 1,311.3% during the 1st quarter. Vest Financial LLC now owns 312,723 shares of the construction company's stock worth $32,148,000 after buying an additional 290,564 shares during the period. Hudson Capital Management LLC raised its stake in shares of PulteGroup by 8.6% during the 1st quarter. Hudson Capital Management LLC now owns 41,305 shares of the construction company's stock worth $4,246,000 after buying an additional 3,266 shares during the period. NBC Securities Inc. raised its stake in shares of PulteGroup by 103,800.0% during the 1st quarter. NBC Securities Inc. now owns 5,195 shares of the construction company's stock worth $534,000 after buying an additional 5,190 shares during the period. Finally, Reyes Financial Architecture Inc. raised its stake in PulteGroup by 42.1% in the 1st quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company's stock valued at $79,000 after purchasing an additional 228 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group increased their price objective on PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Citigroup increased their price objective on PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. increased their price objective on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company increased their price objective on PulteGroup from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Oppenheimer increased their price objective on PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $135.31.

PulteGroup Price Performance

Shares of NYSE PHM opened at $128.82 on Friday. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The business has a 50-day moving average of $111.76 and a 200-day moving average of $105.71. 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 company has a market capitalization of $25.42 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 0.38 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 EPS for the quarter, beating analysts' consensus estimates 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 quarter in the prior year, the business posted $3.83 earnings per share. PulteGroup's revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities analysts anticipate 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.

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