Morse Asset Management Inc Has $2.65 Million Stake in PulteGroup, Inc. (PHM)

Morse Asset Management Inc boosted its stake in PulteGroup, Inc. (NYSE:PHM) by 23.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 108,150 shares of the construction company’s stock after buying an additional 20,825 shares during the period. Morse Asset Management Inc’s holdings in PulteGroup were worth $2,653,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PHM. Pioneer Investment Management Inc. boosted its position in shares of PulteGroup by 9.6% in the second quarter. Pioneer Investment Management Inc. now owns 1,085,329 shares of the construction company’s stock valued at $26,623,000 after buying an additional 95,093 shares in the last quarter. HL Financial Services LLC boosted its position in shares of PulteGroup by 1.5% in the second quarter. HL Financial Services LLC now owns 179,845 shares of the construction company’s stock valued at $4,412,000 after buying an additional 2,679 shares in the last quarter. IFP Advisors Inc boosted its position in shares of PulteGroup by 72.2% in the second quarter. IFP Advisors Inc now owns 10,264 shares of the construction company’s stock valued at $252,000 after buying an additional 4,305 shares in the last quarter. Telemus Capital LLC boosted its position in shares of PulteGroup by 34.9% in the second quarter. Telemus Capital LLC now owns 12,614 shares of the construction company’s stock valued at $309,000 after buying an additional 3,264 shares in the last quarter. Finally, IPG Investment Advisors LLC boosted its position in shares of PulteGroup by 357.2% in the second quarter. IPG Investment Advisors LLC now owns 200,790 shares of the construction company’s stock valued at $4,925,000 after buying an additional 156,870 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Shares of PulteGroup, Inc. (NYSE PHM) traded down 0.63% during trading on Friday, reaching $25.28. The company’s stock had a trading volume of 3,649,662 shares. The stock has a market cap of $7.63 billion, a price-to-earnings ratio of 13.99 and a beta of 1.14. PulteGroup, Inc. has a one year low of $17.69 and a one year high of $26.00. The company has a 50-day moving average price of $24.80 and a 200-day moving average price of $23.43.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.03 billion. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. PulteGroup’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 EPS. On average, equities research analysts forecast that PulteGroup, Inc. will post $2.09 earnings per share for the current fiscal year.

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Several brokerages have recently issued reports on PHM. BidaskClub upgraded shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a report on Thursday. Zacks Investment Research cut shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Citigroup Inc. raised their target price on shares of PulteGroup from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, July 26th. FBR & Co restated an “outperform” rating and issued a $28.00 target price (up previously from $26.00) on shares of PulteGroup in a report on Wednesday, July 26th. Finally, Susquehanna Bancshares Inc cut shares of PulteGroup from a “positive” rating to a “neutral” rating and set a $26.00 target price on the stock. in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock 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 the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total transaction of $324,520.00. Following the transaction, the director now owns 108,744 shares of the company’s stock, valued at approximately $2,520,685.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.71% of the company’s stock.

About PulteGroup

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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