PulteGroup, Inc. $PHM Shares Bought by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. increased its PulteGroup stake by 33.1% in the second quarter, buying 27,408 additional shares to own 110,316 shares valued at approximately $15.1 million. Institutional investors collectively hold 89.9% of PHM’s outstanding stock.
• Analyst sentiment is broadly positive, with 13 Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $142.20.
• PulteGroup exceeded quarterly expectations, reporting $2.48 in earnings per share versus $2.36 forecast and $3.98 billion in revenue versus $3.94 billion expected. However, revenue declined 9.6% year over year, while the stock opened at $128.66.

Benjamin Edwards Inc. grew its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 33.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,316 shares of the construction company's stock after purchasing an additional 27,408 shares during the period. Benjamin Edwards Inc. owned about 0.06% of PulteGroup worth $15,136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cedar Mountain Advisors LLC boosted its stake in shares of PulteGroup by 1,650.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company's stock worth $25,000 after acquiring an additional 198 shares in the last quarter. NFSG Corp purchased a new position in PulteGroup during the first quarter worth approximately $29,000. HHM Wealth Advisors LLC grew its holdings in PulteGroup by 158.5% in the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company's stock valued at $32,000 after purchasing an additional 168 shares during the period. DV Equities LLC acquired a new stake in PulteGroup in the fourth quarter valued at approximately $32,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in shares of PulteGroup in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 89.90% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PHM shares. Barclays upped their target price on PulteGroup from $123.00 to $124.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 23rd. UBS Group reissued a "buy" rating and issued a $166.00 price target on shares of PulteGroup in a report on Thursday, July 23rd. Wolfe Research set a $129.00 price objective on shares of PulteGroup and gave the stock an "outperform" rating in a research report on Monday, August 24th. Royal Bank Of Canada increased their price objective on shares of PulteGroup from $115.00 to $116.00 and gave the company a "sector perform" rating in a report on Thursday, July 23rd. Finally, Weiss Ratings upgraded shares of PulteGroup from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 21st. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, PulteGroup presently has a consensus rating of "Moderate Buy" and an average target price of $142.20.

PulteGroup Stock Performance

NYSE:PHM opened at $128.66 on Friday. The company has a market cap of $24.12 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.59 and a beta of 1.19. PulteGroup, Inc. has a twelve month low of $108.49 and a twelve month high of $144.49. The company's 50-day moving average price is $129.52 and its 200-day moving average price is $125.61. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.12. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the prior year, the firm earned $3.03 EPS. PulteGroup's quarterly revenue was down 9.6% on a year-over-year basis. On average, sell-side analysts forecast that PulteGroup, Inc. will post 10.12 earnings per share for the current fiscal year.

PulteGroup Company Profile

PulteGroup, Inc NYSE: PHM is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.

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