PulteGroup, Inc. (NYSE:PHM) Stock Holdings Lowered by Sumitomo Mitsui Trust Holdings Inc.

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Sumitomo Mitsui Trust Holdings Inc. lessened its stake in PulteGroup, Inc. (NYSE:PHM) by 12.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,553,360 shares of the construction company’s stock after selling 223,526 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.58% of PulteGroup worth $52,861,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp lifted its holdings in PulteGroup by 4.7% in the 1st quarter. State Street Corp now owns 12,922,013 shares of the construction company’s stock valued at $289,871,000 after acquiring an additional 580,162 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in PulteGroup by 15.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 4,070,860 shares of the construction company’s stock valued at $90,859,000 after acquiring an additional 529,526 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in PulteGroup by 26.8% in the 1st quarter. Janus Henderson Group PLC now owns 4,035,807 shares of the construction company’s stock valued at $90,080,000 after acquiring an additional 854,095 shares during the last quarter. Norges Bank acquired a new stake in PulteGroup in the 4th quarter valued at about $110,791,000. Finally, Wells Fargo & Company MN lifted its holdings in PulteGroup by 68.8% in the 1st quarter. Wells Fargo & Company MN now owns 2,578,499 shares of the construction company’s stock valued at $57,553,000 after acquiring an additional 1,050,585 shares during the last quarter. 84.95% of the stock is owned by institutional investors.

A number of analysts have commented on PHM shares. Royal Bank of Canada reissued a “hold” rating on shares of PulteGroup in a research report on Thursday. Raymond James raised shares of PulteGroup from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research report on Friday, July 24th. Zacks Investment Research raised shares of PulteGroup from a “hold” rating to a “strong-buy” rating and set a $46.00 price target for the company in a research report on Tuesday, July 28th. Citigroup increased their price target on shares of PulteGroup from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Finally, Barclays increased their price target on shares of PulteGroup from $36.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $42.76.

PHM opened at $43.60 on Friday. PulteGroup, Inc. has a 1-year low of $17.12 and a 1-year high of $47.37. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $11.69 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 1.13 and a beta of 1.34. The business has a 50 day moving average of $36.09 and a 200-day moving average of $34.65.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, July 23rd. The construction company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.84 by $0.31. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.53 billion. PulteGroup had a return on equity of 20.10% and a net margin of 10.94%. PulteGroup’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $0.86 earnings per share. Equities analysts predict that PulteGroup, Inc. will post 4.14 EPS for the current year.

PulteGroup Company 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.

Further Reading: Stock Symbols and CUSIP Explained

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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