Hennessy Advisors Inc. Sells 400 Shares of PulteGroup, Inc. (NYSE:PHM)

Hennessy Advisors Inc. lessened its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 1.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,600 shares of the construction company’s stock after selling 400 shares during the quarter. Hennessy Advisors Inc.’s holdings in PulteGroup were worth $2,819,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. purchased a new position in PulteGroup in the 1st quarter worth approximately $26,000. Benjamin Edwards Inc. bought a new stake in shares of PulteGroup in the 1st quarter worth approximately $26,000. LRI Investments LLC purchased a new position in shares of PulteGroup during the first quarter valued at approximately $28,000. Continuum Advisory LLC lifted its stake 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 acquiring an additional 154 shares during the period. Finally, Lindbrook Capital LLC boosted its stake in shares of PulteGroup by 335.6% during the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock valued at $39,000 after purchasing an additional 292 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Trading Up 2.3 %

Shares of NYSE:PHM opened at $132.21 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. PulteGroup, Inc. has a 52-week low of $68.80 and a 52-week high of $135.62. The stock has a market cap of $27.44 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.50 and a beta of 1.61. The business has a 50-day moving average price of $118.52 and a 200-day moving average price of $114.21.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, beating the consensus estimate of $3.27 by $0.56. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.00 earnings per share. Equities analysts predict that PulteGroup, Inc. will post 12.9 EPS for the current year.

Insider Transactions at PulteGroup

In other news, CFO Robert Oshaughnessy sold 28,993 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $129.29, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PHM. Bank of America increased their target price on PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Evercore ISI upped their price target on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Royal Bank of Canada boosted their price objective on PulteGroup from $113.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. Raymond James upped their price target on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research note on Friday, August 16th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $133.14.

PulteGroup 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.