Rehmann Capital Advisory Group Purchases 5,470 Shares of PulteGroup, Inc. $PHM

Rehmann Capital Advisory Group boosted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 49.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 16,587 shares of the construction company’s stock after purchasing an additional 5,470 shares during the quarter. Rehmann Capital Advisory Group’s holdings in PulteGroup were worth $2,276,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PHM. Norges Bank bought a new position in shares of PulteGroup in the fourth quarter worth approximately $466,653,000. Price T Rowe Associates Inc. MD boosted its stake in PulteGroup by 126.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock valued at $502,366,000 after purchasing an additional 2,392,580 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in PulteGroup during the 2nd quarter valued at $189,931,000. Public Sector Pension Investment Board increased its holdings in shares of PulteGroup by 5,485.0% in the 4th quarter. Public Sector Pension Investment Board now owns 930,622 shares of the construction company’s stock worth $109,125,000 after purchasing an additional 913,959 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of PulteGroup by 5.1% in the 4th quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company’s stock worth $1,589,495,000 after purchasing an additional 655,033 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PHM. Wolfe Research set a $129.00 price target on PulteGroup and gave the company an “outperform” rating in a report on Monday, August 24th. Evercore reiterated an “outperform” rating and issued a $162.00 price objective on shares of PulteGroup in a report on Thursday, July 23rd. Barclays boosted their target price on PulteGroup from $123.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Citigroup restated a “market outperform” rating on shares of PulteGroup in a research note on Tuesday, August 18th. Finally, Royal Bank Of Canada raised their price target on shares of PulteGroup from $115.00 to $116.00 and gave the company a “sector perform” rating in a report on Thursday, July 23rd. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.20.

PulteGroup Trading Down 2.5%

Shares of NYSE:PHM opened at $123.15 on Wednesday. The stock has a market capitalization of $23.08 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.56 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s 50-day simple moving average is $129.46 and its two-hundred day simple moving average is $125.37. PulteGroup, Inc. has a 52-week low of $108.49 and a 52-week high of $144.49.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.94 billion. During the same period in the previous year, the company posted $3.03 EPS. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. Analysts expect that PulteGroup, Inc. will post 10.12 EPS for the current year.

About PulteGroup

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.