TD Asset Management Inc Lowers Stock Position in PulteGroup, Inc. (NYSE:PHM)

Key Points

• TD Asset Management Inc reduced its stake in PulteGroup, Inc. by 29.2% during the 1st quarter, now holding 86,565 shares valued at approximately $8.9 million.
• Several institutional investors significantly increased their positions in PulteGroup during the same period, with Pacer Advisors Inc. boosting its stake by over 2,586%.
• PulteGroup reported $3.03 EPS for the last quarter, exceeding analysts' expectations, but its revenue decreased by 4.3% compared to the previous year.

TD Asset Management Inc trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 29.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,565 shares of the construction company's stock after selling 35,631 shares during the quarter. TD Asset Management Inc's holdings in PulteGroup were worth $8,899,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. boosted its position in PulteGroup by 2,586.8% during the 1st quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company's stock valued at $119,958,000 after acquiring an additional 1,123,471 shares in the last quarter. AustralianSuper Pty Ltd lifted its stake in shares of PulteGroup by 219.2% during 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 last quarter. Man Group plc boosted its position in PulteGroup by 136.8% during the fourth quarter. Man Group plc now owns 988,963 shares of the construction company's stock valued at $107,698,000 after purchasing an additional 571,251 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in PulteGroup during the fourth quarter valued at about $47,133,000. Finally, Bridgewater Associates LP grew its stake in PulteGroup by 118.8% in the fourth quarter. Bridgewater Associates LP now owns 783,581 shares of the construction company's stock valued at $85,332,000 after purchasing an additional 425,492 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Trading Down 0.3%

Shares of NYSE:PHM opened at $112.98 on Friday. The business has a 50-day moving average price of $106.55 and a 200-day moving average price of $105.25. The stock has a market cap of $22.29 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 0.33 and a beta of 1.29. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM - Get Free Report) last posted 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. The company 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%. PulteGroup's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $3.83 EPS. Equities analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

Wall Street Analysts Forecast Growth

PHM has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. UBS Group raised 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. Wells Fargo & Company upped their price target on PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada increased their price objective on PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a report on Wednesday, July 23rd. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, PulteGroup presently has a consensus 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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