PulteGroup, Inc. (NYSE:PHM) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 13.1% in the second quarter, Holdings Channel.com reports. The firm owned 637,646 shares of the construction company’s stock after selling 96,158 shares during the period. Allspring Global Investments Holdings LLC’s holdings in PulteGroup were worth $70,205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of PulteGroup in the 1st quarter valued at about $26,000. Benjamin Edwards Inc. bought a new position in PulteGroup during the 1st quarter worth approximately $26,000. LRI Investments LLC bought a new stake in shares of PulteGroup in the 1st quarter valued at approximately $28,000. Continuum Advisory LLC boosted its holdings in PulteGroup by 94.5% in the second quarter. Continuum Advisory LLC now owns 317 shares of the construction company’s stock worth $35,000 after purchasing an additional 154 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of PulteGroup by 551.8% during the second quarter. Versant Capital Management Inc now owns 365 shares of the construction company’s stock worth $40,000 after purchasing an additional 309 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PulteGroup

In related news, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. BTIG Research upped their target price on PulteGroup from $133.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Oppenheimer boosted their target price on shares of PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Raymond James lifted their target price on PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wolfe Research lowered PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Finally, Citigroup reduced their price objective on shares of PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average target price of $133.14.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $131.58 on Wednesday. The stock has a market capitalization of $27.68 billion, a P/E ratio of 10.53, a P/E/G ratio of 0.50 and a beta of 1.61. The business has a 50-day moving average of $119.74 and a two-hundred day moving average of $115.00. PulteGroup, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $136.47. 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 announced its earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter last year, the firm posted $3.00 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities research analysts predict that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Company 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.