PulteGroup, Inc. (NYSE:PHM) Stock Holdings Lowered by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC lowered its stake in PulteGroup, Inc. (NYSE:PHM) by 44.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,733 shares of the construction company’s stock after selling 1,399 shares during the period. AlphaCentric Advisors LLC’s holdings in PulteGroup were worth $191,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of PulteGroup during the fourth quarter worth $381,960,000. Swedbank AB purchased a new stake in PulteGroup during the first quarter valued at about $68,985,000. Allianz Asset Management GmbH boosted its holdings in shares of PulteGroup by 38.3% in the fourth quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock worth $195,316,000 after buying an additional 523,623 shares during the period. Janney Montgomery Scott LLC increased its position in shares of PulteGroup by 130.2% in the first quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock worth $46,837,000 after acquiring an additional 219,609 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of PulteGroup by 40.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock valued at $88,511,000 after acquiring an additional 212,837 shares during the period. Institutional investors own 89.90% of the company’s stock.

Insider Activity at PulteGroup

In other news, CFO Robert Oshaughnessy sold 28,993 shares of the business’s 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 transaction, the chief financial officer now owns 160,330 shares in the company, 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. Corporate insiders own 0.83% of the company’s stock.

PulteGroup Stock Performance

NYSE:PHM traded down $1.50 during midday trading on Monday, reaching $133.63. The stock had a trading volume of 1,386,433 shares, compared to its average volume of 1,848,108. The stock has a market capitalization of $28.11 billion, a P/E ratio of 10.77, a PEG ratio of 0.50 and a beta of 1.61. PulteGroup, Inc. has a 1-year low of $68.80 and a 1-year high of $136.47. 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 firm’s fifty day simple moving average is $118.94 and its 200-day simple moving average is $114.59.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (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 firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same quarter last year, the firm posted $3.00 EPS. The company’s revenue was up 9.8% on a year-over-year basis. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Bank of America raised their target price on PulteGroup from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Royal Bank of Canada increased their price target on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. Oppenheimer boosted their price objective on shares of PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Barclays increased their target price on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, BTIG Research boosted their price target on shares of PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $133.14.

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.