Stevens Capital Management LP Takes $6.62 Million Position in PulteGroup, Inc. (PHM)

Stevens Capital Management LP acquired a new stake in PulteGroup, Inc. (NYSE:PHM) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 267,142 shares of the construction company’s stock, valued at approximately $6,617,000. Stevens Capital Management LP owned 0.10% of PulteGroup as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Swiss National Bank grew its position in shares of PulteGroup by 5.7% in the second quarter. Swiss National Bank now owns 896,900 shares of the construction company’s stock valued at $25,786,000 after purchasing an additional 48,100 shares during the period. Argyle Capital Management Inc. grew its position in PulteGroup by 11.2% during the third quarter. Argyle Capital Management Inc. now owns 93,950 shares of the construction company’s stock valued at $2,327,000 after acquiring an additional 9,500 shares during the period. Tredje AP fonden grew its position in PulteGroup by 4.7% during the second quarter. Tredje AP fonden now owns 71,557 shares of the construction company’s stock valued at $2,064,000 after acquiring an additional 3,197 shares during the period. Salem Investment Counselors Inc. grew its position in PulteGroup by 1,428.6% during the second quarter. Salem Investment Counselors Inc. now owns 10,700 shares of the construction company’s stock valued at $316,000 after acquiring an additional 10,000 shares during the period. Finally, CIBC World Markets Inc. grew its position in PulteGroup by 28.1% during the second quarter. CIBC World Markets Inc. now owns 104,983 shares of the construction company’s stock valued at $3,018,000 after acquiring an additional 23,045 shares during the period. 90.27% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on PHM shares. JPMorgan Chase & Co. downgraded PulteGroup from an “overweight” rating to an “underweight” rating and lowered their price target for the company from $37.50 to $28.00 in a research report on Friday, September 21st. ValuEngine downgraded PulteGroup from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 27th. BTIG Research raised PulteGroup from a “sell” rating to a “neutral” rating and set a $24.00 price target for the company in a research report on Wednesday, October 24th. Bank of America set a $32.00 price target on PulteGroup and gave the company a “buy” rating in a research report on Thursday, October 11th. Finally, Deutsche Bank reissued a “hold” rating and set a $24.00 price target (down previously from $34.00) on shares of PulteGroup in a research report on Monday, October 22nd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.00.

Shares of PHM opened at $26.67 on Friday. The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 0.44 and a beta of 0.92. PulteGroup, Inc. has a 12 month low of $20.64 and a 12 month high of $35.21. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.56 and a current ratio of 0.56.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, October 23rd. The construction company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.06. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.62 billion. PulteGroup had a return on equity of 21.98% and a net margin of 8.63%. The firm’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. As a group, equities research analysts predict that PulteGroup, Inc. will post 3.58 earnings per share for the current fiscal year.

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PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of 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 names.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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