Suffolk Capital Management LLC Takes Position in PulteGroup, Inc. (PHM)
Suffolk Capital Management LLC acquired a new stake in PulteGroup, Inc. (NYSE:PHM) in the third quarter, according to its most recent filing with the SEC. The fund acquired 311,781 shares of the construction company’s stock, valued at approximately $8,521,000. Suffolk Capital Management LLC owned approximately 0.11% of PulteGroup at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in PulteGroup by 3.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the construction company’s stock valued at $100,000 after buying an additional 148 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in PulteGroup by 7.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,845 shares of the construction company’s stock valued at $168,000 after buying an additional 465 shares in the last quarter. Koch Industries Inc. purchased a new position in PulteGroup in the 2nd quarter valued at approximately $220,000. QCM Cayman Ltd. purchased a new position in PulteGroup in the 2nd quarter valued at approximately $223,000. Finally, BKS Advisors LLC purchased a new position in PulteGroup in the 2nd quarter valued at approximately $232,000. Institutional investors and hedge funds own 87.82% of the company’s stock.
In related news, insider James R. Ellinghausen sold 136,912 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $29.70, for a total value of $4,066,286.40. Following the completion of the transaction, the insider now directly owns 294,369 shares in the company, valued at $8,742,759.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by insiders.
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Shares of PulteGroup, Inc. (NYSE PHM) remained flat at $$31.07 during trading hours on Friday. The company’s stock had a trading volume of 965,273 shares, compared to its average volume of 4,740,000. PulteGroup, Inc. has a 52 week low of $17.92 and a 52 week high of $31.30. The company has a market capitalization of $9,120.00, a PE ratio of 15.08, a price-to-earnings-growth ratio of 0.89 and a beta of 1.17. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.72.
PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 24th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.01. PulteGroup had a net margin of 7.77% and a return on equity of 14.38%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the business earned $0.43 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. equities research analysts predict that PulteGroup, Inc. will post 2.21 EPS for the current year.
A number of research analysts recently weighed in on the stock. B. Riley reiterated a “buy” rating on shares of PulteGroup in a research note on Wednesday, November 1st. BidaskClub upgraded shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. Wedbush upgraded shares of PulteGroup from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $15.00 to $22.00 in a research report on Thursday, July 13th. Zacks Investment Research lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, FBR & Co restated a “buy” rating and set a $31.00 price target (up from $28.00) on shares of PulteGroup in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $28.67.
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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