PulteGroup, Inc. (NYSE:PHM) Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in PulteGroup, Inc. by 17.4% during the first quarter, holding approximately 515,224 shares valued at $52.95 million.
• PulteGroup's stock price increased by 5.4%, with a market cap of $25.65 billion and a reported earnings per share (EPS) of $3.03 for the last quarter.
• Several large investors, including Townsquare Capital LLC and Barclays PLC, have increased their positions in PulteGroup, contributing to a significant institutional ownership of 89.90% of the stock.

Russell Investments Group Ltd. lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 17.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 515,224 shares of the construction company's stock after selling 108,791 shares during the quarter. Russell Investments Group Ltd. owned 0.26% of PulteGroup worth $52,953,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in PulteGroup during the 4th quarter valued at approximately $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 purchasing an additional 105 shares in the last quarter. American National Bank & Trust acquired a new stake in PulteGroup during the 1st quarter valued at approximately $39,000. Quarry LP acquired a new stake in PulteGroup during the 4th quarter valued at approximately $43,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in PulteGroup during the 1st quarter valued at approximately $54,000. Institutional investors and hedge funds own 89.90% of the company's stock.

PulteGroup Stock Performance

NYSE:PHM traded up $0.27 during midday trading on Friday, reaching $128.82. 1,920,227 shares of the company traded hands, compared to its average volume of 2,149,599. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The firm has a market capitalization of $25.42 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 0.38 and a beta of 1.22. 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 company has a fifty day moving average price of $111.76 and a 200 day moving average price of $105.76.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PHM shares. Barclays lowered their price objective on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their price objective on PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Citigroup raised their price objective on PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada raised their price objective on PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price objective on PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock 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.