Los Angeles Capital Management LLC Raises Stock Position in PulteGroup, Inc. (NYSE:PHM)

Los Angeles Capital Management LLC grew its holdings in PulteGroup, Inc. (NYSE:PHMGet Rating) by 375.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 555,877 shares of the construction company’s stock after buying an additional 438,859 shares during the period. Los Angeles Capital Management LLC owned approximately 0.23% of PulteGroup worth $23,291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PHM. Janney Montgomery Scott LLC grew its stake in shares of PulteGroup by 7.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 31,981 shares of the construction company’s stock worth $1,828,000 after buying an additional 2,172 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new position in shares of PulteGroup in the 4th quarter worth $210,000. Illinois Municipal Retirement Fund grew its stake in shares of PulteGroup by 35.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 14,287 shares of the construction company’s stock worth $817,000 after buying an additional 3,772 shares in the last quarter. Yousif Capital Management LLC purchased a new position in shares of PulteGroup in the 4th quarter worth $2,601,000. Finally, CWM LLC purchased a new position in shares of PulteGroup in the 4th quarter worth $187,000. 90.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PHM shares. Citigroup raised their target price on shares of PulteGroup to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. UBS Group decreased their price objective on shares of PulteGroup from $73.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, June 16th. Bank of America lowered shares of PulteGroup from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $41.00 to $48.00 in a report on Wednesday, July 27th. JPMorgan Chase & Co. decreased their price objective on shares of PulteGroup from $51.00 to $49.50 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Finally, StockNews.com lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.21.

PulteGroup Stock Performance

Shares of PHM opened at $42.38 on Friday. PulteGroup, Inc. has a 12 month low of $35.03 and a 12 month high of $58.09. The stock has a fifty day moving average price of $42.49 and a 200-day moving average price of $44.69. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26. The firm has a market cap of $9.81 billion, a PE ratio of 4.71 and a beta of 1.32.

PulteGroup (NYSE:PHMGet Rating) last issued its earnings results on Tuesday, July 26th. The construction company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.14. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $4.07 billion. PulteGroup had a return on equity of 29.81% and a net margin of 15.02%. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the business posted $1.72 EPS. Equities research analysts predict that PulteGroup, Inc. will post 11.18 earnings per share for the current fiscal year.

PulteGroup Profile

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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, American West, and John Wieland Homes and Neighborhoods brand names.

Further Reading

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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