Shell Asset Management Co. Decreases Stock Position in PulteGroup, Inc. (NYSE:PHM)

Shell Asset Management Co. trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHMGet Rating) by 14.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,748 shares of the construction company’s stock after selling 1,771 shares during the period. Shell Asset Management Co.’s holdings in PulteGroup were worth $450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Benson Investment Management Company Inc. lifted its holdings in PulteGroup by 0.4% during the 1st quarter. Benson Investment Management Company Inc. now owns 70,303 shares of the construction company’s stock worth $2,946,000 after buying an additional 250 shares during the last quarter. Nixon Capital LLC increased its position in PulteGroup by 0.4% in the 4th quarter. Nixon Capital LLC now owns 68,586 shares of the construction company’s stock valued at $3,920,000 after acquiring an additional 272 shares during the period. Wetherby Asset Management Inc. increased its position in PulteGroup by 5.5% during the 4th quarter. Wetherby Asset Management Inc. now owns 5,785 shares of the construction company’s stock worth $331,000 after purchasing an additional 304 shares during the period. Creative Financial Designs Inc. ADV increased its position in PulteGroup by 10.1% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 4,369 shares of the construction company’s stock worth $183,000 after purchasing an additional 399 shares during the period. Finally, Atlas Private Wealth Advisors increased its position in PulteGroup by 7.9% during the 1st quarter. Atlas Private Wealth Advisors now owns 6,137 shares of the construction company’s stock worth $257,000 after purchasing an additional 449 shares during the period. 90.32% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Price Performance

NYSE PHM opened at $41.86 on Thursday. PulteGroup, Inc. has a 12 month low of $35.03 and a 12 month high of $58.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market capitalization of $9.69 billion, a PE ratio of 4.66 and a beta of 1.32. The company’s 50 day simple moving average is $42.60 and its 200 day simple moving average is $44.87.

PulteGroup (NYSE:PHMGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The construction company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.14. PulteGroup had a net margin of 15.02% and a return on equity of 29.81%. The business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same quarter last year, the business earned $1.72 earnings per share. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. As a group, equities research analysts forecast that PulteGroup, Inc. will post 11.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PHM has been the topic of several recent analyst reports. BTIG Research dropped their target price on PulteGroup from $57.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. The Goldman Sachs Group dropped their target price on PulteGroup from $63.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 12th. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. UBS Group reduced their target price on PulteGroup from $73.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. Finally, Bank of America lowered PulteGroup from a “buy” rating to a “neutral” rating and increased their price target for the stock from $41.00 to $48.00 in a research note on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.21.

PulteGroup Profile

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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, American West, and John Wieland Homes and Neighborhoods brand names.

Further Reading

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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