Cypress Capital Group Sells 1,040 Shares of PulteGroup, Inc. (NYSE:PHM)

Cypress Capital Group trimmed its position in PulteGroup, Inc. (NYSE:PHM) by 11.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 8,263 shares of the construction company’s stock after selling 1,040 shares during the period. Cypress Capital Group’s holdings in PulteGroup were worth $910,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. acquired a new position in PulteGroup in the 1st quarter worth about $26,000. Benjamin Edwards Inc. acquired a new position in shares of PulteGroup in the first quarter valued at approximately $26,000. LRI Investments LLC acquired a new stake in PulteGroup during the 1st quarter worth approximately $28,000. Continuum Advisory LLC grew its holdings in PulteGroup by 94.5% during the 2nd quarter. Continuum Advisory LLC now owns 317 shares of the construction company’s stock worth $35,000 after acquiring an additional 154 shares during the last quarter. Finally, Lindbrook Capital LLC grew its holdings in PulteGroup by 335.6% during the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after acquiring an additional 292 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Up 0.6 %

Shares of NYSE PHM traded up $0.77 during trading on Monday, hitting $135.90. 211,984 shares of the company traded hands, compared to its average volume of 1,840,947. The firm has a market capitalization of $28.59 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 0.50 and a beta of 1.61. The business’s fifty day moving average is $118.94 and its 200 day moving average is $114.59. 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, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $136.43.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same period in the prior year, the business earned $3.00 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts predict that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada raised their price target on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Evercore ISI raised their target price on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Bank of America upped their price target on PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Finally, Citigroup reduced their target price on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $133.14.

Insider Transactions at PulteGroup

In related news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction 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 owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.83% of the stock is owned by insiders.

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.