PulteGroup, Inc. (NYSE:PHM) Shares Sold by ING Groep NV

Key Points

• ING Groep NV sold 76.1% of its shares in PulteGroup, reducing its holdings to 37,152 shares valued at $3.8 million at the end of the recent quarter.
• Wall Street analysts have raised their price targets for PulteGroup, with Oppenheimer setting a new target of $140.00 and UBS increasing it to $150.00, indicating overall strong growth expectations.
• PulteGroup reported earnings of $3.03 per share for the last quarter, exceeding estimates and demonstrating a 21.01% return on equity, although revenue decreased by 4.3% compared to the previous year.

ING Groep NV reduced its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 76.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,152 shares of the construction company's stock after selling 118,341 shares during the quarter. ING Groep NV's holdings in PulteGroup were worth $3,819,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. TD Waterhouse Canada Inc. increased its position in shares of PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after acquiring an additional 105 shares during the period. NDVR Inc. boosted its stake in shares of PulteGroup by 6.0% in the 4th quarter. NDVR Inc. now owns 1,984 shares of the construction company's stock valued at $216,000 after buying an additional 112 shares during the period. Coppell Advisory Solutions LLC boosted its stake in shares of PulteGroup by 10.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,271 shares of the construction company's stock valued at $138,000 after buying an additional 116 shares during the period. Belpointe Asset Management LLC grew its position in shares of PulteGroup by 3.9% during the fourth quarter. Belpointe Asset Management LLC now owns 3,277 shares of the construction company's stock worth $357,000 after buying an additional 123 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its stake in shares of PulteGroup by 15.9% during the first quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company's stock worth $93,000 after buying an additional 125 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PHM has been the subject of several analyst reports. Royal Bank Of Canada boosted their price target on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. UBS Group boosted their target price on shares of PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Evercore ISI increased their target price on PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a report on Wednesday, April 23rd. Citigroup lifted their price target on PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Six research 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $134.15.

PulteGroup Stock Performance

Shares of PulteGroup stock traded up $0.45 on Thursday, hitting $120.68. The stock had a trading volume of 1,611,086 shares, compared to its average volume of 2,264,695. The stock has a market cap of $23.81 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 0.35 and a beta of 1.22. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The company's 50 day moving average price is $108.66 and its 200 day moving average price is $105.38.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%. The firm's revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.83 earnings per share. On average, research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current 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.