Raiffeisen Bank International AG Trims Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Key Points

• Raiffeisen Bank International AG significantly reduced its holdings in PulteGroup, cutting its position by 89.6% during the first quarter, now owning just 711 shares valued at about $72,000.
• PulteGroup's earnings topped expectations with $3.03 per share, exceeding the consensus estimate of $2.92, although its revenue decreased by 4.3% year-over-year.
• Currently, PulteGroup has a consensus rating of "Moderate Buy" from analysts with an average target price of $134.15 per share.

Raiffeisen Bank International AG lowered its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 89.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 711 shares of the construction company's stock after selling 6,100 shares during the quarter. Raiffeisen Bank International AG's holdings in PulteGroup were worth $72,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in shares of PulteGroup during the fourth quarter worth $37,000. TD Waterhouse Canada Inc. lifted its position in 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 buying an additional 105 shares during the period. American National Bank & Trust acquired a new stake in PulteGroup in the 1st quarter worth about $39,000. Quarry LP acquired a new stake in PulteGroup in the 4th quarter worth about $43,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in PulteGroup in the 1st quarter valued at about $54,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Up 0.4%

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

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on PHM shares. Raymond James Financial reissued an "outperform" rating and issued a $140.00 target price (up from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. UBS Group increased their price target 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. Oppenheimer boosted their price objective on shares of PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. Evercore ISI upped their price objective on PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. Finally, Wedbush reiterated an "outperform" rating and issued a $135.00 target price on shares of PulteGroup in a report on Tuesday, April 22nd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PulteGroup presently has a consensus rating of "Moderate Buy" and an average price target 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.