Envestnet Asset Management Inc. Decreases Holdings in PulteGroup, Inc. (NYSE:PHM)

Envestnet Asset Management Inc. reduced its position in PulteGroup, Inc. (NYSE:PHM – Get Rating) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 401,589 shares of the construction company’s stock after selling 7,438 shares during the period. Envestnet Asset Management Inc. owned approximately 0.17% of PulteGroup worth $16,827,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new position in PulteGroup in the 4th quarter valued at about $30,000. Catalyst Capital Advisors LLC purchased a new position in PulteGroup in the 4th quarter valued at about $37,000. Tyler Stone Wealth Management purchased a new position in PulteGroup in the 4th quarter valued at about $49,000. First Command Bank boosted its position in PulteGroup by 125.0% in the 1st quarter. First Command Bank now owns 900 shares of the construction company’s stock valued at $38,000 after buying an additional 500 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in PulteGroup by 316.1% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 928 shares of the construction company’s stock valued at $39,000 after buying an additional 705 shares during the last quarter. 90.32% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $42.62 on Friday. The firm’s 50 day moving average is $42.55 and its two-hundred day moving average is $44.77. PulteGroup, Inc. has a 52 week low of $35.03 and a 52 week high of $58.09. The firm has a market capitalization of $9.87 billion, a P/E ratio of 4.74 and a beta of 1.32. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26.

PulteGroup (NYSE:PHM – Get 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. Analysts anticipate that PulteGroup, Inc. will post 11.18 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PHM shares. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th. The Goldman Sachs Group reduced their price target on shares of PulteGroup from $63.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 12th. Barclays reduced their price target on shares of PulteGroup from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 14th. Citigroup increased their price target on shares of PulteGroup to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Finally, Bank of America cut shares of 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 report on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.21.

About PulteGroup

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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.

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