PulteGroup, Inc. (NYSE:PHM) Holdings Raised by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its stake in PulteGroup, Inc. (NYSE:PHM) by 36.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,376 shares of the construction company’s stock after buying an additional 906 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in PulteGroup were worth $372,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Lebenthal Global Advisors LLC raised its holdings in shares of PulteGroup by 3.9% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after purchasing an additional 87 shares in the last quarter. Tocqueville Asset Management L.P. raised its holdings in shares of PulteGroup by 2.0% during the 1st quarter. Tocqueville Asset Management L.P. now owns 5,092 shares of the construction company’s stock valued at $614,000 after purchasing an additional 101 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of PulteGroup by 4.9% during the 1st quarter. Global Retirement Partners LLC now owns 2,226 shares of the construction company’s stock valued at $269,000 after purchasing an additional 103 shares in the last quarter. Patten Group Inc. raised its holdings in shares of PulteGroup by 2.9% during the 2nd quarter. Patten Group Inc. now owns 3,805 shares of the construction company’s stock valued at $419,000 after purchasing an additional 109 shares in the last quarter. Finally, NBC Securities Inc. raised its holdings in shares of PulteGroup by 2.4% during the 1st quarter. NBC Securities Inc. now owns 4,774 shares of the construction company’s stock valued at $575,000 after purchasing an additional 112 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

Insider Activity

In other news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the sale, the chief financial officer now directly owns 160,330 shares in the company, valued at approximately $20,729,065.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the transaction, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at approximately $20,729,065.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the transaction, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,000 shares of company stock worth $15,814,039. Corporate insiders own 0.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PHM. BTIG Research raised their target price on shares of PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their target price on shares of PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Bank of America raised their target price on shares of PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Oppenheimer raised their target price on shares of PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a research note on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $133.14.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $128.82 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. The firm’s 50-day simple moving average is $121.68 and its 200-day simple moving average is $115.96. PulteGroup, Inc. has a twelve month low of $68.80 and a twelve month high of $136.47. The firm has a market cap of $26.73 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 0.54 and a beta of 1.61.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. During the same period in the previous year, the business earned $3.00 EPS. The firm’s revenue was up 9.8% on a year-over-year basis. As a group, research analysts expect that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Company Profile

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, John Wieland Homes and Neighborhoods, and American West brand names.