PulteGroup, Inc. (NYSE:PHM) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,700 shares of the construction company’s stock after selling 2,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in PulteGroup were worth $9,325,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of PulteGroup in the fourth quarter worth about $2,103,000. abrdn plc raised its stake in PulteGroup by 52.4% during the 4th quarter. abrdn plc now owns 117,734 shares of the construction company’s stock valued at $12,153,000 after purchasing an additional 40,469 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of PulteGroup by 335.6% in the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock valued at $39,000 after purchasing an additional 292 shares in the last quarter. CWM LLC boosted its position in shares of PulteGroup by 3.9% in the fourth quarter. CWM LLC now owns 10,855 shares of the construction company’s stock worth $1,120,000 after buying an additional 406 shares during the period. Finally, GAMMA Investing LLC purchased a new position in shares of PulteGroup during the fourth quarter valued at $113,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Buying and Selling

In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of the company’s 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 sale, the chief financial officer now directly owns 160,330 shares in the company, valued at $20,729,065.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup reduced their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Royal Bank of Canada raised their price target on shares of PulteGroup from $113.00 to $120.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Evercore ISI boosted their price objective on shares of PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. BTIG Research increased their target price on shares of PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $133.14.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $135.13 on Monday. The business’s 50-day simple moving average is $118.94 and its 200-day simple moving average is $114.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. PulteGroup, Inc. has a 52 week low of $68.80 and a 52 week high of $135.62. The firm has a market cap of $28.04 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 0.50 and a beta of 1.61.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, beating 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 company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter last year, the company posted $3.00 earnings per share. The company’s revenue for the quarter 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 earnings per share for the current fiscal year.

PulteGroup 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.