Van ECK Associates Corp Trims Stock Position in PulteGroup, Inc. $PHM

Van ECK Associates Corp cut its position in PulteGroup, Inc. (NYSE:PHM) by 14.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,711 shares of the construction company’s stock after selling 7,036 shares during the quarter. Van ECK Associates Corp’s holdings in PulteGroup were worth $5,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Focus Partners Wealth raised its position in shares of PulteGroup by 20.5% in the first quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock worth $1,287,000 after buying an additional 2,128 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in PulteGroup by 197.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock worth $128,000 after buying an additional 804 shares in the last quarter. Guggenheim Capital LLC increased its stake in PulteGroup by 12.9% in the 2nd quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock worth $898,000 after acquiring an additional 975 shares during the last quarter. Baird Financial Group Inc. increased its stake in PulteGroup by 8.0% in the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock worth $3,065,000 after acquiring an additional 2,164 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of PulteGroup by 17.6% in the 2nd quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock valued at $4,395,000 after acquiring an additional 6,240 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $123.72 on Thursday. The stock has a market cap of $23.19 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 1.52 and a beta of 1.19. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 1-year low of $108.49 and a 1-year high of $144.49. The stock’s 50-day moving average is $129.23 and its 200 day moving average is $125.26.

PulteGroup (NYSE:PHM) last issued its earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The business had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the firm earned $3.03 earnings per share. PulteGroup’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 10.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wolfe Research set a $129.00 price target on PulteGroup and gave the company an “outperform” rating in a research report on Monday, August 24th. Wells Fargo & Company upped their price objective on shares of PulteGroup from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Weiss Ratings upgraded shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Royal Bank Of Canada boosted their price target on shares of PulteGroup from $115.00 to $116.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. Finally, Barclays increased their price target on shares of PulteGroup from $123.00 to $124.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.20.

PulteGroup Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.