Caisse DE Depot ET Placement DU Quebec Buys 133,493 Shares of PulteGroup, Inc. $PHM

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in PulteGroup by 10.8%, now owning approximately 1.37 million shares valued at $141 million.
• Several institutional investors, including TD Waterhouse Canada and Price T Rowe Associates, have also increased their holdings in PulteGroup, contributing to institutional ownership of 89.90% of the company's stock.
• Wall Street analysts are optimistic about PulteGroup's future, with multiple firms raising their target prices and ratings—resulting in an average rating of "Moderate Buy" with a target price of $135.31.

Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 10.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,371,589 shares of the construction company's stock after buying an additional 133,493 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.68% of PulteGroup worth $140,999,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in PulteGroup in the 4th quarter worth about $37,000. TD Waterhouse Canada Inc. boosted its stake in PulteGroup by 43.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after purchasing an additional 105 shares in the last quarter. American National Bank & Trust bought a new position in PulteGroup in the 1st quarter worth about $39,000. Quarry LP bought a new position in PulteGroup in the 4th quarter worth about $43,000. Finally, Catalyst Capital Advisors LLC bought a new position in PulteGroup in the 1st quarter worth about $54,000. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Performance

PHM stock traded up $0.50 during midday trading on Thursday, reaching $131.53. 1,133,714 shares of the company's stock traded hands, compared to its average volume of 2,042,937. 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 stock has a market cap of $25.95 billion, a P/E ratio of 10.52, a PEG ratio of 0.39 and a beta of 1.22. The stock's 50-day moving average is $116.84 and its 200 day moving average is $106.94.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wedbush reiterated an "outperform" rating and issued a $150.00 price target on shares of PulteGroup in a research note on Wednesday, August 13th. JPMorgan Chase & Co. upped their price target on shares of PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group upped 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. Citigroup upped their price target on shares of PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company boosted their target price on PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, PulteGroup presently has an average rating of "Moderate Buy" and a consensus price target of $135.31.

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.