DNB Asset Management AS Acquires 1,575 Shares of PulteGroup, Inc. (NYSE:PHM)

DNB Asset Management AS lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 4.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 33,742 shares of the construction company’s stock after purchasing an additional 1,575 shares during the period. DNB Asset Management AS’s holdings in PulteGroup were worth $3,715,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Putnam Investments LLC grew its holdings in PulteGroup by 1.8% during the 4th quarter. Putnam Investments LLC now owns 11,008,695 shares of the construction company’s stock worth $1,136,318,000 after acquiring an additional 197,656 shares during the last quarter. Norges Bank acquired a new position in shares of PulteGroup during the fourth quarter worth approximately $381,960,000. Allianz Asset Management GmbH grew its stake in shares of PulteGroup by 38.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock valued at $195,316,000 after purchasing an additional 523,623 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of PulteGroup by 0.5% in the first quarter. Los Angeles Capital Management LLC now owns 1,434,016 shares of the construction company’s stock valued at $172,971,000 after purchasing an additional 7,397 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of PulteGroup by 18.4% in the first quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock valued at $130,986,000 after purchasing an additional 168,746 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Price Performance

Shares of PHM opened at $123.67 on Wednesday. The company’s 50-day moving average is $116.24 and its 200-day moving average is $112.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $25.66 billion, a PE ratio of 9.90, a PEG ratio of 0.52 and a beta of 1.61. PulteGroup, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $135.62.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same period last year, the firm earned $3.00 earnings per share. PulteGroup’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts forecast that PulteGroup, Inc. will post 12.85 EPS for the current year.

Insider Activity

In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the transaction, the chief financial officer now owns 160,330 shares in the company, valued at approximately $20,729,065.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.83% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on PHM shares. StockNews.com upgraded PulteGroup from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. BTIG Research upped their price target on PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Evercore ISI raised their target price on shares of PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Jefferies Financial Group boosted their price target on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $133.14.

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.