Cambridge Investment Research Advisors Inc. Has $2.30 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Cambridge Investment Research Advisors Inc. lifted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 21.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,930 shares of the construction company’s stock after purchasing an additional 3,746 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in PulteGroup were worth $2,304,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PHM. Norges Bank acquired a new position in PulteGroup during the fourth quarter worth $381,960,000. Swedbank AB acquired a new stake in shares of PulteGroup in the 1st quarter worth about $68,985,000. Allianz Asset Management GmbH raised its holdings in shares of PulteGroup by 38.3% in the 4th quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock worth $195,316,000 after acquiring an additional 523,623 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in PulteGroup by 130.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock valued at $46,837,000 after acquiring an additional 219,609 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in PulteGroup by 40.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock valued at $88,511,000 after purchasing an additional 212,837 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Up 1.2 %

Shares of NYSE PHM opened at $131.65 on Monday. The business’s fifty day moving average price is $120.93 and its 200-day moving average price is $115.49. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $136.47. The stock has a market capitalization of $27.32 billion, a PE ratio of 10.54, a P/E/G ratio of 0.54 and a beta of 1.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.27 by $0.56. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.00 earnings per share. On average, equities research analysts anticipate that PulteGroup, Inc. will post 12.9 EPS for the current year.

Insider Activity at PulteGroup

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the sale, the chief financial officer now owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the sale, the director now owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the transaction, the chief financial officer now directly owns 89,323 shares of the company’s stock, valued at approximately $12,043,420.09. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,000 shares of company stock worth $15,814,039. 0.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PHM shares. Wolfe Research lowered PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Wedbush reissued a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research report on Friday, August 16th. Raymond James lifted their price objective on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Evercore ISI increased their target price on shares of PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.14.

PulteGroup Profile

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