Raymond James Trust N.A. Sells 923 Shares of PulteGroup, Inc. (NYSE:PHM)

Raymond James Trust N.A. cut its holdings in PulteGroup, Inc. (NYSE:PHM) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,002 shares of the construction company’s stock after selling 923 shares during the period. Raymond James Trust N.A.’s holdings in PulteGroup were worth $2,092,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Capital Advisors Ltd. LLC grew its holdings in PulteGroup by 746.4% during the second quarter. Capital Advisors Ltd. LLC now owns 474 shares of the construction company’s stock worth $52,000 after buying an additional 418 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in PulteGroup by 75.5% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 6,015 shares of the construction company’s stock worth $662,000 after buying an additional 2,587 shares in the last quarter. Colton Groome Financial Advisors LLC bought a new position in shares of PulteGroup in the 2nd quarter worth $438,000. Lebenthal Global Advisors LLC raised its holdings in shares of PulteGroup by 3.9% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after buying an additional 87 shares in the last quarter. Finally, Everhart Financial Group Inc. raised its position in PulteGroup by 18.8% in the 2nd quarter. Everhart Financial Group Inc. now owns 4,963 shares of the construction company’s stock worth $546,000 after purchasing an additional 786 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Trading Up 4.6 %

Shares of NYSE:PHM traded up $5.91 during trading hours on Friday, hitting $135.13. 2,783,667 shares of the company’s stock traded hands, compared to its average volume of 1,850,939. 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 business has a fifty day moving average price of $118.94 and a 200-day moving average price of $114.59. PulteGroup, Inc. has a 1 year low of $68.80 and a 1 year high of $135.62. The firm has a market capitalization of $28.04 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 0.50 and a beta of 1.61.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates 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%. PulteGroup’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.00 EPS. Equities analysts expect that PulteGroup, Inc. will post 12.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PHM. Raymond James upped their price objective on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Bank of America upped their price target on PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Citigroup decreased their target price on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. raised their price objective on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price target on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.14.

Insider Buying and Selling at PulteGroup

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

PulteGroup Company 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.