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

Van ECK Associates Corp decreased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 14.1% during the second quarter, HoldingsChannel reports. The firm 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 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PHM. Cedar Mountain Advisors LLC grew its holdings in shares of PulteGroup by 1,650.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock worth $25,000 after acquiring an additional 198 shares during the period. NFSG Corp purchased a new position in shares of PulteGroup in the 1st quarter valued at approximately $29,000. HHM Wealth Advisors LLC boosted its position in shares of PulteGroup by 158.5% during the first quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company’s stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. DV Equities LLC bought a new stake in shares of PulteGroup during the fourth quarter valued at approximately $32,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in PulteGroup in the fourth quarter worth $33,000. 89.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of research reports. UBS Group reiterated a “buy” rating and issued a $166.00 price objective on shares of PulteGroup in a report on Thursday, July 23rd. Barclays upped their target price on shares of PulteGroup from $123.00 to $124.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Wells Fargo & Company lifted their price target on shares of PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Citigroup restated a “market outperform” rating on shares of PulteGroup in a report on Tuesday, August 18th. Finally, Royal Bank Of Canada raised their target price on shares of PulteGroup from $115.00 to $116.00 and gave the company a “sector perform” rating in a research note on Thursday, July 23rd. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $142.20.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $123.72 on Thursday. The business has a fifty day moving average price of $129.23 and a 200-day moving average price of $125.26. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $23.19 billion, a PE ratio of 12.64, a PEG ratio of 1.52 and a beta of 1.19. PulteGroup, Inc. has a 1-year low of $108.49 and a 1-year high of $144.49.

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