PulteGroup, Inc. (NYSE:PHM) Stock Position Lifted by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 27.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,217 shares of the construction company’s stock after purchasing an additional 484 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in PulteGroup were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blair William & Co. IL raised its position in shares of PulteGroup by 1.9% during the 1st quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock worth $3,289,000 after purchasing an additional 516 shares during the period. Certuity LLC acquired a new stake in shares of PulteGroup during the 4th quarter worth approximately $245,000. Banque Cantonale Vaudoise raised its position in shares of PulteGroup by 166.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock worth $1,586,000 after purchasing an additional 8,215 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of PulteGroup by 6.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company’s stock worth $35,890,000 after purchasing an additional 17,369 shares during the period. Finally, Personal CFO Solutions LLC acquired a new stake in shares of PulteGroup during the 4th quarter worth approximately $719,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PHM. Wedbush reiterated a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a research report on Friday, August 16th. Evercore ISI raised their target price on PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Royal Bank of Canada raised their target price on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Oppenheimer raised their target price on PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Raymond James raised their target price on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and a consensus target price of $133.14.

PulteGroup Price Performance

Shares of PHM stock traded up $5.91 during mid-day trading on Friday, hitting $135.13. 2,710,102 shares of the stock traded hands, compared to its average volume of 1,850,939. PulteGroup, Inc. has a twelve month low of $68.80 and a twelve month high of $135.62. The firm has a market cap of $28.04 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 0.50 and a beta of 1.61. The company’s 50-day simple moving average is $118.94 and its 200-day simple moving average is $114.43. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.56. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $3.00 EPS. As a group, equities research analysts expect that PulteGroup, Inc. will post 12.9 earnings per share for the current year.

Insider Transactions at PulteGroup

In other 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 completion of the sale, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.83% of the company’s stock.

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.