Versant Capital Management Inc Increases Stock Position in PulteGroup, Inc. (NYSE:PHM)

Versant Capital Management Inc lifted its holdings in PulteGroup, Inc. (NYSE:PHM) by 551.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 365 shares of the construction company’s stock after purchasing an additional 309 shares during the period. Versant Capital Management Inc’s holdings in PulteGroup were worth $40,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Ballentine Partners LLC raised its stake in shares of PulteGroup by 17.0% during the 4th quarter. Ballentine Partners LLC now owns 3,606 shares of the construction company’s stock worth $372,000 after acquiring an additional 523 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of PulteGroup during the 4th quarter worth approximately $6,111,000. Nilsine Partners LLC acquired a new position in PulteGroup during the 4th quarter valued at approximately $206,000. Prime Capital Investment Advisors LLC acquired a new position in PulteGroup during the 4th quarter valued at approximately $3,313,000. Finally, Stratos Wealth Partners LTD. increased its stake in PulteGroup by 47.0% during the 4th quarter. Stratos Wealth Partners LTD. now owns 9,894 shares of the construction company’s stock valued at $1,021,000 after purchasing an additional 3,163 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Up 0.5 %

PulteGroup stock traded up $0.64 during midday trading on Wednesday, hitting $124.29. 300,696 shares of the stock were exchanged, compared to its average volume of 1,854,978. PulteGroup, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $135.62. The stock has a market capitalization of $25.79 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 0.52 and a beta of 1.61. The stock’s 50-day simple moving average is $116.24 and its 200 day simple moving average is $112.79. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (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 during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period last year, the business earned $3.00 earnings per share. PulteGroup’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that PulteGroup, Inc. will post 12.85 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on PHM shares. Barclays upped their price target on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Zelman & Associates raised shares of PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. upped their price objective on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. BTIG Research increased their price target on shares of PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Wedbush reissued a “neutral” rating and set a $115.00 price target (up from $105.00) on shares of PulteGroup in a report on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.14.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, CFO Robert Oshaughnessy sold 28,993 shares of PulteGroup stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the sale, the chief financial officer now directly owns 160,330 shares in the company, valued at $20,729,065.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.83% of the company’s stock.

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.