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

Key Points

• Vanguard Group Inc. reduced its stake in PulteGroup by 0.9%, holding approximately 23.5 million shares, valued at around $2.41 billion, as reported in their recent 13F filing.
• Analysts have increased target prices for PulteGroup shares, with UBS Group raising its target from $141 to $150, indicating a positive outlook for the company's stock.
• PulteGroup reported an EPS of $3.03 for the last quarter, exceeding analysts' expectations, despite a 4.3% year-over-year decline in revenue.

Vanguard Group Inc. trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,487,789 shares of the construction company's stock after selling 203,794 shares during the period. Vanguard Group Inc. owned approximately 11.72% of PulteGroup worth $2,414,545,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Intrust Bank NA lifted its stake in PulteGroup by 67.2% during the 1st quarter. Intrust Bank NA now owns 4,578 shares of the construction company's stock valued at $471,000 after acquiring an additional 1,840 shares during the period. iA Global Asset Management Inc. acquired a new position in shares of PulteGroup in the 1st quarter valued at $1,306,000. Ruffer LLP lifted its stake in shares of PulteGroup by 45.0% in the 1st quarter. Ruffer LLP now owns 42,245 shares of the construction company's stock valued at $4,343,000 after purchasing an additional 13,113 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of PulteGroup by 3.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 41,047 shares of the construction company's stock valued at $4,220,000 after purchasing an additional 1,195 shares during the period. Finally, IFG Advisory LLC lifted its stake in shares of PulteGroup by 4.2% in the 1st quarter. IFG Advisory LLC now owns 24,976 shares of the construction company's stock valued at $2,568,000 after purchasing an additional 1,001 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Oppenheimer boosted their price target on shares of PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Wells Fargo & Company upped 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, Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 target price (up previously from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, PulteGroup has a consensus rating of "Moderate Buy" and a consensus price target of $134.15.

PulteGroup Trading Up 0.8%

NYSE PHM opened at $121.63 on Friday. The firm's 50-day moving average is $109.13 and its two-hundred day moving average is $105.42. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. 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 stock has a market capitalization of $24.00 billion, a P/E ratio of 9.09, a PEG ratio of 0.35 and a beta of 1.22.

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, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $4.42 billion. During the same quarter in the prior year, the company posted $3.83 earnings per share. PulteGroup's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share 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.

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