PulteGroup, Inc. (NYSE:PHM) Position Maintained by NJ State Employees Deferred Compensation Plan
NJ State Employees Deferred Compensation Plan held its stake in PulteGroup, Inc. (NYSE:PHM) during the second quarter, Holdings Channel reports. The fund owned 10,000 shares of the construction company’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in PulteGroup were worth $245,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in PHM. Hartwell J M Limited Partnership raised its position in shares of PulteGroup by 4.3% in the second quarter. Hartwell J M Limited Partnership now owns 22,850 shares of the construction company’s stock valued at $561,000 after buying an additional 950 shares during the period. Commerce Bank purchased a new position in shares of PulteGroup during the first quarter valued at approximately $207,000. First Trust Advisors LP raised its position in shares of PulteGroup by 30.0% in the first quarter. First Trust Advisors LP now owns 1,264,856 shares of the construction company’s stock valued at $29,787,000 after buying an additional 291,555 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of PulteGroup during the second quarter valued at approximately $2,631,000. Finally, LS Investment Advisors LLC raised its position in shares of PulteGroup by 5.5% in the first quarter. LS Investment Advisors LLC now owns 15,663 shares of the construction company’s stock valued at $369,000 after buying an additional 819 shares during the period. 92.52% of the stock is currently owned by hedge funds and other institutional investors.
PulteGroup, Inc. (PHM) opened at 25.31 on Thursday. The stock has a market cap of $7.64 billion, a PE ratio of 14.01 and a beta of 1.14. The stock has a 50 day moving average price of $24.58 and a 200-day moving average price of $23.21. PulteGroup, Inc. has a 1-year low of $17.69 and a 1-year high of $25.74. PulteGroup also saw unusually large options trading on Tuesday. Traders acquired 29,638 put options on the company. This represents an increase of approximately 1,131% compared to the average daily volume of 2,408 put options.
PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, July 25th. The construction company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.03 billion. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. PulteGroup’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 earnings per share. On average, equities analysts expect that PulteGroup, Inc. will post $2.09 EPS for the current year.
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Several brokerages have recently commented on PHM. Barclays PLC lowered PulteGroup from an “overweight” rating to an “equal weight” rating and set a $24.00 price objective on the stock. in a research report on Tuesday, July 11th. They noted that the move was a valuation call. Mizuho lowered PulteGroup from a “neutral” rating to an “underperform” rating and set a $22.00 price objective on the stock. in a research report on Monday, July 10th. Wedbush reiterated an “underperform” rating and set a $15.00 price objective on shares of PulteGroup in a research report on Tuesday, April 25th. BidaskClub lowered PulteGroup from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 13th. Finally, Zacks Investment Research upgraded PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. PulteGroup has a consensus rating of “Hold” and a consensus price target of $25.08.
In other PulteGroup news, Director Brian P. Anderson sold 14,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total transaction of $324,520.00. Following the completion of the sale, the director now owns 108,744 shares in the company, valued at $2,520,685.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.71% of the stock is owned by corporate insiders.
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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