PulteGroup, Inc. (PHM) Position Lowered by World Asset Management Inc

World Asset Management Inc cut its stake in PulteGroup, Inc. (NYSE:PHM) by 12.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,904 shares of the construction company’s stock after selling 3,997 shares during the period. World Asset Management Inc’s holdings in PulteGroup were worth $660,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in PulteGroup by 3,521.7% in the first quarter. BlackRock Inc. now owns 22,891,339 shares of the construction company’s stock valued at $539,092,000 after buying an additional 22,259,277 shares in the last quarter. Renaissance Technologies LLC purchased a new position in PulteGroup during the first quarter valued at about $92,466,000. Wedge Capital Management L L P NC bought a new stake in shares of PulteGroup during the first quarter worth $59,083,000. State of New Jersey Common Pension Fund D bought a new stake in shares of PulteGroup during the second quarter worth $29,436,000. Finally, Boston Advisors LLC bought a new stake in shares of PulteGroup during the first quarter worth $17,839,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup, Inc. (PHM) traded down 0.63% during midday trading on Friday, reaching $25.28. 3,649,662 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $24.80 and its 200-day moving average price is $23.43. PulteGroup, Inc. has a 1-year low of $17.69 and a 1-year high of $26.00. The company has a market capitalization of $7.63 billion, a PE ratio of 13.99 and a beta of 1.14.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, July 25th. The construction company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.03 billion. PulteGroup had a net margin of 7.35% and a return on equity of 13.43%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Equities analysts expect that PulteGroup, Inc. will post $2.09 EPS for the current year.

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PHM has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Monday, April 24th. Wedbush reissued an “underperform” rating and set a $15.00 price objective on shares of PulteGroup in a report on Tuesday, April 25th. Mizuho initiated coverage on shares of PulteGroup in a report on Tuesday, May 16th. They set a “neutral” rating and a $22.00 price objective on the stock. BidaskClub raised shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Finally, Credit Suisse Group initiated coverage on shares of PulteGroup in a report on Thursday, June 22nd. They set an “outperform” rating and a $27.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $25.08.

In other news, Director Brian P. Anderson sold 14,000 shares of PulteGroup stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $23.18, for a total value of $324,520.00. Following the sale, the director now owns 108,744 shares of the company’s stock, valued at $2,520,685.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is owned by insiders.

PulteGroup Company Profile

PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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