Chevy Chase Trust Holdings LLC Sells 2,613 Shares of PulteGroup, Inc. (NYSE:PHM)

Chevy Chase Trust Holdings LLC decreased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,900 shares of the construction company’s stock after selling 2,613 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of PulteGroup worth $12,650,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PHM. Harel Insurance Investments & Financial Services Ltd. raised its position in PulteGroup by 40.6% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,109 shares of the construction company’s stock worth $231,000 after acquiring an additional 609 shares in the last quarter. Continuum Advisory LLC lifted its stake in PulteGroup by 94.5% in the 2nd quarter. Continuum Advisory LLC now owns 317 shares of the construction company’s stock valued at $35,000 after purchasing an additional 154 shares during the last quarter. NatWest Group plc grew its holdings in PulteGroup by 6.3% during the second quarter. NatWest Group plc now owns 81,571 shares of the construction company’s stock worth $8,981,000 after purchasing an additional 4,860 shares during the period. Raymond James & Associates raised its stake in PulteGroup by 7.6% in the second quarter. Raymond James & Associates now owns 325,858 shares of the construction company’s stock valued at $35,877,000 after buying an additional 22,936 shares during the period. Finally, Blue Trust Inc. raised its stake in PulteGroup by 46.9% in the 2nd quarter. Blue Trust Inc. now owns 4,683 shares of the construction company’s stock valued at $565,000 after acquiring an additional 1,495 shares during the period. Institutional investors own 89.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Zelman & Associates upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 24th. Wolfe Research lowered PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Raymond James upped 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. Oppenheimer raised their price target on PulteGroup from $143.00 to $151.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Bank of America raised their target price on shares of PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $133.14.

Insider Buying and Selling at PulteGroup

In other news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is currently owned by company insiders.

PulteGroup Trading Up 3.5 %

Shares of PulteGroup stock traded up $4.34 on Wednesday, hitting $129.08. The stock had a trading volume of 831,095 shares, compared to its average volume of 1,838,938. The stock has a 50 day moving average of $117.98 and a 200 day moving average of $114.01. 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 twelve month low of $68.80 and a twelve month high of $135.62. The firm has a market capitalization of $27.15 billion, a P/E ratio of 10.28, a PEG 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 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $4.49 billion. During the same period in the previous year, the company posted $3.00 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts expect that PulteGroup, Inc. will post 12.9 earnings per share for the current fiscal year.

About PulteGroup

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.