Stone Ridge Asset Management LLC Raises Stock Position in PulteGroup, Inc. (NYSE:PHM)

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Stone Ridge Asset Management LLC boosted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,204 shares of the construction company’s stock after purchasing an additional 1,900 shares during the period. Stone Ridge Asset Management LLC’s holdings in PulteGroup were worth $2,410,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PHM. Xact Kapitalforvaltning AB raised its stake in shares of PulteGroup by 10.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 57,928 shares of the construction company’s stock valued at $1,832,000 after acquiring an additional 5,656 shares during the period. Duality Advisers LP purchased a new stake in shares of PulteGroup in the 1st quarter valued at approximately $3,273,000. Oregon Public Employees Retirement Fund raised its stake in shares of PulteGroup by 44.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 105,489 shares of the construction company’s stock valued at $3,336,000 after acquiring an additional 32,259 shares during the period. SRB Corp raised its stake in shares of PulteGroup by 17.1% in the 1st quarter. SRB Corp now owns 26,311 shares of the construction company’s stock valued at $736,000 after acquiring an additional 3,840 shares during the period. Finally, Ibex Wealth Advisors purchased a new stake in shares of PulteGroup in the 2nd quarter valued at approximately $37,000. 86.36% of the stock is currently owned by institutional investors.

Shares of PHM stock traded down $0.46 during trading on Friday, reaching $32.70. The company’s stock had a trading volume of 3,495,024 shares, compared to its average volume of 2,924,659. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of 9.11, a P/E/G ratio of 1.31 and a beta of 0.72. The stock’s 50-day moving average price is $32.26 and its 200 day moving average price is $30.39. PulteGroup, Inc. has a 1-year low of $20.64 and a 1-year high of $34.03.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, July 23rd. The construction company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.47 billion. PulteGroup had a net margin of 9.23% and a return on equity of 20.68%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 earnings per share. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 3.42 EPS for the current fiscal year.

In other PulteGroup news, insider Michelle H. Hairston sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $31.25, for a total transaction of $312,500.00. Following the completion of the transaction, the insider now owns 62,933 shares in the company, valued at approximately $1,966,656.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James L. Ossowski sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $34.00, for a total transaction of $170,000.00. Following the transaction, the insider now owns 25,750 shares of the company’s stock, valued at approximately $875,500. The disclosure for this sale can be found here. Insiders have sold a total of 54,957 shares of company stock valued at $1,788,205 in the last quarter. 0.49% of the stock is currently owned by company insiders.

A number of research analysts recently weighed in on the stock. SunTrust Banks assumed coverage on shares of PulteGroup in a report on Monday, August 12th. They issued a “buy” rating and a $38.00 price objective for the company. Seaport Global Securities assumed coverage on shares of PulteGroup in a report on Friday. They issued a “buy” rating and a $44.00 price objective for the company. Finally, Royal Bank of Canada upgraded shares of PulteGroup from an “underperform” rating to a “sector perform” rating and lifted their price objective for the company from $29.00 to $33.00 in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $30.63.

PulteGroup Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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