Northern Trust Corp Has $236.94 Million Stake in PulteGroup, Inc. $PHM

Key Points

• Northern Trust Corp reduced its stake in PulteGroup, Inc. by 5.0%, now holding 2,304,860 shares worth approximately $236.94 million.
• Several analysts have increased their price targets for PulteGroup, with Oppenheimer raising it from $132.00 to $140.00, and UBS Group increasing their target from $141.00 to $150.00, reflecting strong market confidence.
• PulteGroup reported earnings of $3.03 per share for the last quarter, surpassing analysts' estimates, although revenue fell 4.3% year-over-year to $4.40 billion.

Northern Trust Corp decreased its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 5.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,304,860 shares of the construction company's stock after selling 121,081 shares during the period. Northern Trust Corp owned about 1.15% of PulteGroup worth $236,940,000 at the end of the most recent reporting period.

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

PulteGroup Stock Performance

PulteGroup stock traded up $0.1430 on Monday, reaching $132.4730. 1,818,441 shares of the stock were exchanged, compared to its average volume of 2,166,533. The firm has a fifty day moving average price of $114.30 and a two-hundred day moving average price of $106.24. The stock has a market cap of $26.14 billion, a PE ratio of 9.90, a PEG ratio of 0.39 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 twelve month low of $88.07 and a twelve month high of $149.47.

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

Wall Street Analyst Weigh In

PHM has been the subject of a number of research reports. Royal Bank Of Canada lifted their target price on shares of PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group lifted 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. Oppenheimer lifted their target price 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. Finally, Seaport Res Ptn raised shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus 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.