Raymond James & Associates Has $35.88 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Raymond James & Associates boosted its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 7.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,858 shares of the construction company’s stock after buying an additional 22,936 shares during the period. Raymond James & Associates’ holdings in PulteGroup were worth $35,877,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its position in PulteGroup by 46.9% in the second quarter. Blue Trust Inc. now owns 4,683 shares of the construction company’s stock worth $565,000 after purchasing an additional 1,495 shares in the last quarter. Trivant Custom Portfolio Group LLC grew its stake in shares of PulteGroup by 10.9% in the 2nd quarter. Trivant Custom Portfolio Group LLC now owns 14,918 shares of the construction company’s stock valued at $1,642,000 after purchasing an additional 1,472 shares during the period. SteelPeak Wealth LLC acquired a new position in shares of PulteGroup in the 2nd quarter worth approximately $1,979,000. Baader Bank Aktiengesellschaft bought a new position in shares of PulteGroup during the 2nd quarter worth approximately $629,000. Finally, 180 Wealth Advisors LLC boosted its stake in PulteGroup by 561.4% in the 2nd quarter. 180 Wealth Advisors LLC now owns 23,182 shares of the construction company’s stock valued at $2,639,000 after buying an additional 19,677 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Trading Up 2.1 %

PHM stock opened at $125.18 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. PulteGroup, Inc. has a twelve month low of $68.80 and a twelve month high of $135.62. The company has a market cap of $25.98 billion, a P/E ratio of 10.02, a PEG ratio of 0.50 and a beta of 1.61. The business has a fifty day moving average of $117.71 and a 200-day moving average of $113.87.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a report on Friday. Citigroup decreased their price objective on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Bank of America lifted 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. Finally, BTIG Research increased their price target on PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $133.14.

Insider Buying and Selling

In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the transaction, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at $20,729,065.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.83% of the stock is currently owned by insiders.

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.