Los Angeles Capital Management LLC Sells 202,968 Shares of PulteGroup, Inc. (NYSE:PHM)

Los Angeles Capital Management LLC cut its holdings in PulteGroup, Inc. (NYSE:PHM) by 12.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,426,619 shares of the construction company’s stock after selling 202,968 shares during the period. Los Angeles Capital Management LLC owned approximately 0.66% of PulteGroup worth $147,256,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Greenhaven Associates Inc. raised its stake in shares of PulteGroup by 0.4% during the fourth quarter. Greenhaven Associates Inc. now owns 5,726,368 shares of the construction company’s stock valued at $591,076,000 after acquiring an additional 24,350 shares during the last quarter. FMR LLC raised its stake in shares of PulteGroup by 1.8% during the third quarter. FMR LLC now owns 5,484,469 shares of the construction company’s stock valued at $406,125,000 after acquiring an additional 95,945 shares during the last quarter. Invesco Ltd. raised its stake in shares of PulteGroup by 13.3% during the third quarter. Invesco Ltd. now owns 4,432,965 shares of the construction company’s stock valued at $328,261,000 after acquiring an additional 522,032 shares during the last quarter. Morgan Stanley raised its stake in shares of PulteGroup by 2.0% during the third quarter. Morgan Stanley now owns 3,115,877 shares of the construction company’s stock valued at $230,731,000 after acquiring an additional 61,953 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of PulteGroup by 54.6% during the fourth quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company’s stock valued at $310,043,000 after acquiring an additional 1,060,466 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Royal Bank of Canada increased their price target on shares of PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 24th. Raymond James reaffirmed an “outperform” rating and set a $135.00 target price (up previously from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Oppenheimer upped their price target on PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Zelman & Associates raised PulteGroup from a “neutral” rating to an “outperform” rating in a research report on Wednesday, April 24th. Five research 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 stock has a consensus rating of “Moderate Buy” and an average price target of $111.73.

PulteGroup Stock Up 1.6 %

NYSE PHM traded up $1.75 during mid-day trading on Thursday, reaching $113.57. The stock had a trading volume of 491,964 shares, compared to its average volume of 1,796,768. PulteGroup, Inc. has a 1 year low of $65.16 and a 1 year high of $121.07. The stock has a market cap of $23.89 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 0.50 and a beta of 1.56. The company has a fifty day moving average price of $111.88 and a 200 day moving average price of $100.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, topping analysts’ consensus estimates of $3.21 by $0.07. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The company had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.47 billion. During the same period in the previous year, the business earned $3.63 EPS. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis. On average, research analysts expect that PulteGroup, Inc. will post 12.62 earnings per share for the current year.

PulteGroup announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, the vice president now directly owns 15,389 shares in the company, valued at approximately $1,586,452.01. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.83% of the company’s stock.

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.