Trexquant Investment LP Takes Position in PulteGroup, Inc. (NYSE:PHM)
Trexquant Investment LP acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the second quarter, according to its most recent filing with the SEC. The firm acquired 44,000 shares of the construction company’s stock, valued at approximately $1,079,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Hartwell J M Limited Partnership boosted 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 worth $561,000 after buying an additional 950 shares in the last quarter. Commerce Bank acquired a new position in shares of PulteGroup during the first quarter worth about $207,000. First Trust Advisors LP boosted 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 worth $29,787,000 after buying an additional 291,555 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of PulteGroup during the second quarter worth about $2,631,000. Finally, LS Investment Advisors LLC boosted 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 worth $369,000 after buying an additional 819 shares in the last quarter. Hedge funds and other institutional investors own 92.52% of the company’s stock.
Shares of PulteGroup, Inc. (PHM) opened at 25.31 on Thursday. PulteGroup, Inc. has a 12 month low of $17.69 and a 12 month high of $25.74. The firm has a 50-day moving average of $24.58 and a 200 day moving average of $23.21. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 14.01 and a beta of 1.14. PulteGroup also was the recipient of some unusual options trading activity on Tuesday. Investors purchased 29,638 put options on the company. This is an increase of approximately 1,131% compared to the average volume of 2,408 put options.
PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, July 25th. The construction company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.03 billion. PulteGroup had a net margin of 7.35% and a return on equity of 13.43%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 EPS. On average, analysts expect that PulteGroup, Inc. will post $2.09 earnings per share for the current year.
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PHM has been the subject of a number of analyst reports. FBR & Co reiterated an “outperform” rating and set a $28.00 price objective (up from $26.00) on shares of PulteGroup in a report on Wednesday, July 26th. Zacks Investment Research upgraded shares of PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Tuesday, July 4th. Wedbush restated a “neutral” rating and set a $22.00 price target on shares of PulteGroup in a report on Tuesday, July 25th. Mizuho initiated coverage on shares of PulteGroup in a report on Tuesday, May 16th. They set a “neutral” rating and a $22.00 price target on the stock. Finally, Susquehanna Bancshares Inc cut shares of PulteGroup from a “positive” rating to a “neutral” rating and set a $26.00 price target on the stock. in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. PulteGroup currently has an average rating of “Hold” and a consensus price target of $25.08.
In other news, Director Brian P. Anderson sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $23.18, for a total transaction of $324,520.00. Following the sale, the director now owns 108,744 shares of the company’s stock, valued at approximately $2,520,685.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.71% of the company’s stock.
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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