Nissay Asset Management Corp Japan ADV grew its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 10.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,237 shares of the construction company’s stock after buying an additional 2,888 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in PulteGroup were worth $1,063,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace LLP bought a new position in shares of PulteGroup in the first quarter worth approximately $111,000. Guggenheim Capital LLC boosted its stake in PulteGroup by 51.1% in the fourth quarter. Guggenheim Capital LLC now owns 131,403 shares of the construction company’s stock worth $5,098,000 after buying an additional 44,437 shares in the last quarter. Verus Capital Partners LLC purchased a new stake in PulteGroup in the fourth quarter worth approximately $35,000. Norges Bank purchased a new stake in PulteGroup in the fourth quarter worth approximately $110,791,000. Finally, Franklin Resources Inc. boosted its stake in PulteGroup by 266.9% in the fourth quarter. Franklin Resources Inc. now owns 147,293 shares of the construction company’s stock worth $5,715,000 after buying an additional 107,144 shares in the last quarter. Hedge funds and other institutional investors own 84.95% of the company’s stock.
Shares of PHM stock opened at $43.60 on Friday. The stock has a fifty day moving average of $36.09 and a 200 day moving average of $34.65. PulteGroup, Inc. has a 52 week low of $17.12 and a 52 week high of $47.37. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 1.13 and a beta of 1.34. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.47.
Several analysts have issued reports on the company. Royal Bank of Canada reaffirmed a “hold” rating on shares of PulteGroup in a research note on Thursday. Zacks Investment Research raised PulteGroup from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective for the company in a research note on Tuesday, July 28th. JPMorgan Chase & Co. raised PulteGroup from a “neutral” rating to an “overweight” rating and set a $41.00 price objective for the company in a research note on Thursday, June 11th. They noted that the move was a valuation call. Wells Fargo & Co raised PulteGroup from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $49.00 in a research note on Monday, July 27th. Finally, Susquehanna Bancshares lowered PulteGroup from a “positive” rating to a “neutral” rating and increased their price objective for the company from $34.00 to $37.00 in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $42.76.
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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