Swiss National Bank Lowers Stake in PulteGroup, Inc. (NYSE:PHM)

Key Points

• The Swiss National Bank reduced its stake in PulteGroup, Inc. by 1.3%, owning 578,500 shares worth approximately $59.47 million after selling 7,800 shares during the 1st quarter.
• Other institutional investors have increased their stakes significantly, with Pacer Advisors Inc. raising its position by 2,586.8% to own over 1.16 million shares worth nearly $120 million.
• PulteGroup reported a quarterly earnings per share (EPS) of $3.03, surpassing analysts' expectations of $2.92, although its revenue decreased 4.3% year-over-year to $4.40 billion.

Swiss National Bank lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 578,500 shares of the construction company's stock after selling 7,800 shares during the quarter. Swiss National Bank owned 0.29% of PulteGroup worth $59,470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PHM. Pacer Advisors Inc. raised its position in PulteGroup by 2,586.8% in the 1st quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company's stock worth $119,958,000 after purchasing an additional 1,123,471 shares during the period. AustralianSuper Pty Ltd raised its position in PulteGroup by 219.2% in the 1st quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company's stock worth $106,820,000 after purchasing an additional 713,534 shares during the period. Man Group plc raised its position in PulteGroup by 136.8% in the 4th quarter. Man Group plc now owns 988,963 shares of the construction company's stock worth $107,698,000 after purchasing an additional 571,251 shares during the period. Voloridge Investment Management LLC purchased a new position in PulteGroup in the 4th quarter worth $47,133,000. Finally, Bridgewater Associates LP raised its position in PulteGroup by 118.8% in the 4th quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company's stock worth $85,332,000 after purchasing an additional 425,492 shares during the period. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Price Performance

Shares of NYSE PHM opened at $121.63 on Monday. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. 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's 50-day moving average is $109.13 and its 200 day moving average is $105.26. The stock has a market capitalization of $24.00 billion, a P/E ratio of 9.09, a P/E/G ratio of 0.36 and a beta of 1.22.

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, beating the consensus estimate of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The company had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.42 billion. During the same quarter in the previous year, the company earned $3.83 earnings per share. PulteGroup's quarterly revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on PHM shares. Wells Fargo & Company lifted their target price on shares of PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Wedbush reiterated an "outperform" rating and issued a $135.00 target price on shares of PulteGroup in a research report on Tuesday, April 22nd. UBS Group lifted their target price on shares of PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Citigroup raised their price target on shares of PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Six 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $134.15.

PulteGroup Company 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.

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