Public Employees Retirement Association of Colorado Has $1.48 Million Position in PulteGroup, Inc. (PHM)
Public Employees Retirement Association of Colorado lowered its position in shares of PulteGroup, Inc. (NYSE:PHM) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 60,416 shares of the construction company’s stock after selling 872 shares during the period. Public Employees Retirement Association of Colorado’s holdings in PulteGroup were worth $1,482,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Trust Department MB Financial Bank N A acquired a new position in shares of PulteGroup during the first quarter worth $129,000. IFP Advisors Inc increased its position in shares of PulteGroup by 12.0% in the first quarter. IFP Advisors Inc now owns 5,959 shares of the construction company’s stock worth $140,000 after buying an additional 638 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of PulteGroup by 12.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,380 shares of the construction company’s stock worth $150,000 after buying an additional 702 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of PulteGroup during the first quarter worth $155,000. Finally, Acadian Asset Management LLC acquired a new position in shares of PulteGroup during the first quarter worth $197,000. 92.52% of the stock is owned by institutional investors and hedge funds.
Shares of PulteGroup, Inc. (NYSE:PHM) opened at 24.84 on Friday. PulteGroup, Inc. has a one year low of $17.69 and a one year high of $25.74. The company has a market capitalization of $7.49 billion, a P/E ratio of 13.75 and a beta of 1.14. The firm has a 50-day moving average of $24.61 and a 200-day moving average of $23.26.
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, topping the Zacks’ consensus estimate of $0.45 by $0.02. PulteGroup had a net margin of 7.35% and a return on equity of 13.43%. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm posted $0.37 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. Analysts forecast that PulteGroup, Inc. will post $2.09 earnings per share for the current year.
A number of brokerages have weighed in on PHM. BidaskClub downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. UBS AG cut shares of PulteGroup from a “positive” rating to a “neutral” rating in a report on Wednesday, July 26th. Wedbush reiterated a “neutral” rating and set a $22.00 price target on shares of PulteGroup in a report on Tuesday, July 25th. 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. Finally, Zacks Investment Research cut shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $25.08.
In related news, Director Brian P. Anderson sold 14,000 shares of the stock in a transaction on 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 directly owns 108,744 shares of the company’s stock, valued at $2,520,685.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.71% of the company’s stock.
PulteGroup Company Profile
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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