Quantinno Capital Management LP Grows Holdings in PulteGroup, Inc. $PHM

Key Points

• Quantinno Capital Management increased its PulteGroup stake by 2.6% in the first quarter, owning 650,025 shares valued at approximately $76.4 million. Institutional investors collectively hold 89.9% of PHM’s outstanding shares.
• Analyst sentiment remains moderately bullish, with 10 Buy ratings and seven Holds producing a consensus “Moderate Buy” rating and an average price target of $143.14. However, Seaport Research cut its target to $100 and maintained a Sell rating.
• PulteGroup beat quarterly earnings and revenue expectations, reporting $2.48 in EPS and $3.98 billion in revenue, though revenue declined 9.6% year over year. The company also authorized a $1.5 billion share repurchase program, covering up to 6.1% of outstanding shares.

Quantinno Capital Management LP boosted its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 2.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 650,025 shares of the construction company's stock after acquiring an additional 16,344 shares during the period. Quantinno Capital Management LP owned 0.34% of PulteGroup worth $76,449,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PHM. Clough Capital Partners L P boosted its position in shares of PulteGroup by 11.8% in the first quarter. Clough Capital Partners L P now owns 318,349 shares of the construction company's stock worth $37,441,000 after purchasing an additional 33,515 shares during the period. Gateway Wealth Partners LLC bought a new stake in shares of PulteGroup during the 1st quarter valued at $202,000. OMERS ADMINISTRATION Corp raised its position in shares of PulteGroup by 38.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 12,404 shares of the construction company's stock valued at $1,459,000 after purchasing an additional 3,429 shares during the period. Lombard Odier Asset Management Switzerland SA purchased a new position in shares of PulteGroup during the 1st quarter valued at $1,106,000. Finally, Lombard Odier Asset Management Europe Ltd purchased a new position in shares of PulteGroup during the 1st quarter valued at $2,599,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on PHM shares. Zacks Research raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Seaport Research Partners reissued a "sell" rating and set a $100.00 price target (down from $155.00) on shares of PulteGroup in a report on Tuesday, April 7th. Oppenheimer restated an "outperform" rating on shares of PulteGroup in a research report on Tuesday, May 26th. Royal Bank Of Canada upped their price objective on PulteGroup from $115.00 to $116.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group increased their target price on PulteGroup from $133.00 to $142.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $143.14.

Insider Activity

In other news, COO Matthew William Koart sold 7,457 shares of the firm's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $120.00, for a total transaction of $894,840.00. Following the completion of the transaction, the chief operating officer owned 28,100 shares in the company, valued at $3,372,000. This trade represents a 20.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lila Snyder sold 3,339 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $117.18, for a total value of $391,264.02. Following the transaction, the director owned 3,540 shares of the company's stock, valued at approximately $414,817.20. The trade was a 48.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by corporate insiders.

PulteGroup Price Performance

PHM stock opened at $134.81 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 0.78. The company's fifty day moving average price is $124.97 and its 200-day moving average price is $125.47. PulteGroup, Inc. has a one year low of $108.49 and a one year high of $144.49. The company has a market capitalization of $25.27 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.62 and a beta of 1.18.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.12. The company had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $3.94 billion. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. PulteGroup's quarterly revenue was down 9.6% on a year-over-year basis. During the same period last year, the company posted $3.03 earnings per share. On average, equities analysts anticipate that PulteGroup, Inc. will post 10.08 EPS for the current fiscal year.

PulteGroup announced that its board has initiated a share buyback program on Thursday, April 23rd that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 6.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

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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