Sei Investments Co. Cuts Stake in PulteGroup, Inc. (PHM)
Sei Investments Co. cut its position in PulteGroup, Inc. (NYSE:PHM) by 74.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,159 shares of the construction company’s stock after selling 198,617 shares during the period. Sei Investments Co.’s holdings in PulteGroup were worth $1,648,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc boosted its stake in shares of PulteGroup by 12.0% in the first quarter. IFP Advisors Inc now owns 5,959 shares of the construction company’s stock worth $140,000 after buying an additional 638 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of PulteGroup by 12.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,380 shares of the construction company’s stock worth $150,000 after buying an additional 702 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of PulteGroup during the first quarter worth about $155,000. Acadian Asset Management LLC acquired a new stake in shares of PulteGroup during the first quarter worth about $197,000. Finally, Commerce Bank acquired a new stake in shares of PulteGroup during the first quarter worth about $207,000. 85.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of PulteGroup, Inc. (NYSE PHM) opened at 25.31 on Monday. The firm’s 50-day moving average is $24.88 and its 200-day moving average is $23.57. PulteGroup, Inc. has a 12-month low of $17.69 and a 12-month high of $26.00. The company has a market capitalization of $7.64 billion, a PE ratio of 14.01 and a beta of 1.14.
PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.03 billion. PulteGroup had a net margin of 7.35% and a return on equity of 13.43%. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 earnings per share. On average, equities research analysts anticipate that PulteGroup, Inc. will post $2.09 EPS for the current fiscal year.
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A number of equities research analysts recently issued reports on PHM shares. BidaskClub cut shares of PulteGroup from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 13th. Zacks Investment Research upgraded shares of PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Tuesday, July 4th. Bank of America Corporation reiterated a “buy” rating and issued a $30.00 price objective (up from $29.00) on shares of PulteGroup in a report on Tuesday, June 27th. Barclays PLC cut shares of PulteGroup from an “overweight” rating to an “equal weight” rating and set a $24.00 price objective for the company. in a report on Tuesday, July 11th. They noted that the move was a valuation call. Finally, UBS AG cut shares of PulteGroup from a “positive” rating to a “neutral” rating in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. PulteGroup currently has a consensus rating of “Hold” and an average target price of $25.08.
In other news, Director Brian P. Anderson sold 14,000 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $23.18, for a total value of $324,520.00. Following the completion of the sale, the director now owns 108,744 shares in the company, valued at $2,520,685.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.71% of the company’s stock.
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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