Rehmann Capital Advisory Group Boosts Stake in PulteGroup, Inc. $PHM

Rehmann Capital Advisory Group increased its stake in PulteGroup, Inc. (NYSE:PHM) by 49.2% during the second quarter, Holdings Channel.com reports. The firm 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 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. UBS Group reiterated a “buy” rating and set a $166.00 price objective on shares of PulteGroup in a research note on Thursday, July 23rd. Weiss Ratings upgraded shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 21st. Barclays lifted their price target on shares of PulteGroup from $123.00 to $124.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Citigroup reiterated a “market outperform” rating on shares of PulteGroup in a research report on Tuesday, August 18th. Finally, Royal Bank Of Canada increased their price objective 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. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $142.20.

PulteGroup Trading Down 2.5%

Shares of PHM opened at $123.15 on Wednesday. The firm has a market cap of $23.08 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 1.56 and a beta of 1.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. PulteGroup, Inc. has a 1 year low of $108.49 and a 1 year high of $144.49. The company has a 50 day simple moving average of $129.46 and a two-hundred day simple moving average of $125.37.

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

PulteGroup Company 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.