UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $197.40 Million Holdings in PulteGroup, Inc. $PHM

Key Points

• UBS Asset Management reduced its PulteGroup stake by 7.2% in the second quarter, selling 111,046 shares but retaining 1.44 million shares valued at approximately $197.4 million. Institutional investors and hedge funds own 89.9% of PHM.
• Analyst sentiment remains favorable, with 13 Buy ratings and five Holds, producing a consensus “Moderate Buy” rating and an average price target of $142.20. Recent targets range from $129 to $166.
• PulteGroup’s latest quarterly results exceeded expectations, reporting $2.48 in adjusted EPS and $3.98 billion in revenue, although revenue declined 9.6% year over year. Shares opened at $126.28, down 1.8%, with a 52-week range of $108.49 to $144.49.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 7.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,438,684 shares of the construction company's stock after selling 111,046 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.77% of PulteGroup worth $197,402,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Golden State Wealth Management LLC boosted its stake in PulteGroup by 18.3% during the fourth quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company's stock worth $57,000 after buying an additional 75 shares in the last quarter. Evergreen Capital Management LLC raised its position in PulteGroup by 2.8% in the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company's stock worth $304,000 after purchasing an additional 78 shares in the last quarter. CoreCap Advisors LLC raised its position in PulteGroup by 1.1% in the second quarter. CoreCap Advisors LLC now owns 7,372 shares of the construction company's stock worth $1,012,000 after purchasing an additional 79 shares in the last quarter. Stephens Inc. AR lifted its stake in PulteGroup by 3.5% during the fourth quarter. Stephens Inc. AR now owns 2,350 shares of the construction company's stock worth $276,000 after purchasing an additional 80 shares during the period. Finally, Van Hulzen Asset Management LLC lifted its stake in PulteGroup by 1.4% during the fourth quarter. Van Hulzen Asset Management LLC now owns 7,116 shares of the construction company's stock worth $834,000 after purchasing an additional 100 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on PulteGroup from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Weiss Ratings raised PulteGroup from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Wolfe Research set a $129.00 price target on PulteGroup and gave the company an "outperform" rating in a research report on Monday, August 24th. Evercore reiterated an "outperform" rating and set a $162.00 price objective on shares of PulteGroup in a research note on Thursday, July 23rd. Finally, UBS Group reissued a "buy" rating and set a $166.00 price objective on shares of PulteGroup in a report on Thursday, July 23rd. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, PulteGroup currently has an average rating of "Moderate Buy" and a consensus price target of $142.20.

PulteGroup Trading Down 1.8%

PHM stock opened at $126.28 on Tuesday. The business has a fifty day moving average price of $129.53 and a 200 day moving average price of $125.48. PulteGroup, Inc. has a fifty-two week low of $108.49 and a fifty-two week high of $144.49. The stock has a market capitalization of $23.67 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 1.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.12. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.94 billion. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The business's revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.03 earnings per share. Analysts expect that PulteGroup, Inc. will post 10.12 EPS for the current fiscal year.

PulteGroup 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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