Public Employees Retirement System of Ohio Invests $8.94 Million in PulteGroup, Inc. $PHM

Public Employees Retirement System of Ohio purchased a new position in shares of PulteGroup, Inc. (NYSE:PHM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 65,183 shares of the construction company’s stock, valued at approximately $8,944,000.

Several other large investors have also bought and sold shares of the business. Compass Financial Management LLC acquired a new stake in PulteGroup during the 2nd quarter worth $73,000. Danske Bank A S acquired a new position in shares of PulteGroup in the 2nd quarter valued at $6,233,000. Foster & Motley Inc. bought a new position in shares of PulteGroup in the 2nd quarter worth $8,572,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of PulteGroup during the second quarter worth $200,000. Finally, Plato Investment Management Ltd bought a new stake in PulteGroup in the second quarter valued at about $408,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PHM. UBS Group restated a “buy” rating and set a $166.00 target price on shares of PulteGroup in a report on Thursday, July 23rd. Wolfe Research set a $129.00 price target on shares of PulteGroup and gave the company an “outperform” rating in a research report on Monday, August 24th. Weiss Ratings raised shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 21st. Citigroup reaffirmed a “market outperform” rating on shares of PulteGroup in a research note on Tuesday, August 18th. Finally, Evercore reiterated an “outperform” rating and issued a $162.00 target price on shares of PulteGroup in a report on Thursday, July 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.20.

PulteGroup Trading Down 1.8%

NYSE:PHM opened at $126.28 on Tuesday. The business’s 50-day simple moving average is $129.53 and its 200-day simple moving average is $125.48. PulteGroup, Inc. has a fifty-two week low of $108.49 and a fifty-two week high of $144.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $23.67 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.59 and a beta of 1.19.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.12. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the previous year, the firm posted $3.03 earnings per share. The business’s revenue was down 9.6% on a year-over-year basis. Sell-side analysts expect that PulteGroup, Inc. will post 10.12 earnings per share for the current fiscal year.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.