Connectus Wealth LLC Sells 4,212 Shares of PulteGroup, Inc. (NYSE:PHM)

Connectus Wealth LLC decreased its position in shares of PulteGroup, Inc. (NYSE:PHMGet Rating) by 24.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,810 shares of the construction company’s stock after selling 4,212 shares during the quarter. Connectus Wealth LLC’s holdings in PulteGroup were worth $733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PHM. Janney Montgomery Scott LLC boosted its stake in PulteGroup by 7.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 31,981 shares of the construction company’s stock worth $1,828,000 after acquiring an additional 2,172 shares during the last quarter. Vestmark Advisory Solutions Inc. bought a new position in PulteGroup in the fourth quarter valued at approximately $210,000. Illinois Municipal Retirement Fund lifted its stake in PulteGroup by 35.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 14,287 shares of the construction company’s stock valued at $817,000 after buying an additional 3,772 shares in the last quarter. Yousif Capital Management LLC bought a new position in PulteGroup in the fourth quarter valued at approximately $2,601,000. Finally, CWM LLC bought a new position in PulteGroup in the fourth quarter valued at approximately $187,000. Institutional investors own 90.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PHM shares. Wedbush cut their price target on shares of PulteGroup to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. JPMorgan Chase & Co. cut their price objective on shares of PulteGroup from $51.00 to $49.50 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. BTIG Research cut their price objective on shares of PulteGroup from $57.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Royal Bank of Canada lowered shares of PulteGroup from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $56.00 to $41.00 in a research report on Wednesday, June 22nd. Finally, Citigroup boosted their price objective on shares of PulteGroup to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.21.

PulteGroup Price Performance

Shares of PHM opened at $42.38 on Friday. The company has a market cap of $9.81 billion, a price-to-earnings ratio of 4.71 and a beta of 1.32. PulteGroup, Inc. has a 1-year low of $35.03 and a 1-year high of $58.09. The company’s fifty day simple moving average is $42.49 and its 200 day simple moving average is $44.69. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26.

PulteGroup (NYSE:PHMGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The construction company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.59 by $0.14. PulteGroup had a net margin of 15.02% and a return on equity of 29.81%. The firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same period in the previous year, the company earned $1.72 earnings per share. The company’s quarterly revenue was up 16.9% on a year-over-year basis. On average, research analysts forecast that PulteGroup, Inc. will post 11.18 earnings per share for the current fiscal year.

PulteGroup Company Profile

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

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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