PulteGroup, Inc. (NYSE:PHM) Shares Bought by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its stake in PulteGroup, Inc. by 56.6%, acquiring an additional 7,653 shares to total 21,169 shares valued at approximately $2.18 million.
• PulteGroup recently reported $3.03 earnings per share, surpassing analyst estimates of $2.92, although revenue decreased by 4.3% year-over-year.
• Research analysts are optimistic about PulteGroup, with multiple upgrades and a consensus target price of $134.15, indicating a Moderate Buy rating.

Townsquare Capital LLC lifted its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 56.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,169 shares of the construction company's stock after acquiring an additional 7,653 shares during the period. Townsquare Capital LLC's holdings in PulteGroup were worth $2,176,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Northern Trust Corp lifted its holdings in shares of PulteGroup by 14.9% in the 4th quarter. Northern Trust Corp now owns 2,425,941 shares of the construction company's stock valued at $264,185,000 after acquiring an additional 315,148 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in PulteGroup by 9.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,033,776 shares of the construction company's stock worth $221,478,000 after purchasing an additional 169,736 shares during the last quarter. Deutsche Bank AG lifted its stake in PulteGroup by 14.3% in the fourth quarter. Deutsche Bank AG now owns 1,859,029 shares of the construction company's stock worth $202,448,000 after purchasing an additional 232,939 shares during the last quarter. AQR Capital Management LLC lifted its stake in PulteGroup by 9.6% in the fourth quarter. AQR Capital Management LLC now owns 1,459,297 shares of the construction company's stock worth $158,917,000 after purchasing an additional 127,283 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in PulteGroup by 25.6% in the first quarter. Victory Capital Management Inc. now owns 1,397,409 shares of the construction company's stock worth $143,654,000 after purchasing an additional 284,627 shares during the last quarter. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Performance

Shares of NYSE:PHM traded down $1.20 on Thursday, hitting $128.76. 2,489,578 shares of the company were exchanged, compared to its average volume of 2,130,815. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The stock's 50 day moving average price is $111.19 and its 200 day moving average price is $105.67. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $25.40 billion, a P/E ratio of 9.62, a price-to-earnings-growth ratio of 0.38 and a beta of 1.22.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping 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 business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the previous year, the firm posted $3.83 earnings per share. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. Sell-side analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PHM shares. Seaport Res Ptn raised shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Oppenheimer raised their target price on shares of PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada raised their target price on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Citigroup raised their target price on shares of PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company upped their target price on PulteGroup from $125.00 to $135.00 and gave the stock an "overweight" 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.