JB Capital LLC Sells 1,579 Shares of PulteGroup, Inc. (NYSE:PHM)

JB Capital LLC decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,729 shares of the construction company’s stock after selling 1,579 shares during the quarter. JB Capital LLC’s holdings in PulteGroup were worth $3,273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. acquired a new stake in PulteGroup during the 1st quarter worth $26,000. Benjamin Edwards Inc. bought a new position in shares of PulteGroup in the 1st quarter valued at about $26,000. LRI Investments LLC acquired a new position in shares of PulteGroup during the 1st quarter worth approximately $28,000. Continuum Advisory LLC grew its position in shares of PulteGroup by 94.5% in the 2nd quarter. Continuum Advisory LLC now owns 317 shares of the construction company’s stock valued at $35,000 after acquiring an additional 154 shares during the period. Finally, Versant Capital Management Inc raised its stake in PulteGroup by 551.8% in the second quarter. Versant Capital Management Inc now owns 365 shares of the construction company’s stock valued at $40,000 after buying an additional 309 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Buying and Selling at PulteGroup

In related news, CFO Robert Oshaughnessy sold 28,993 shares of the firm’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PHM. Bank of America lifted their target price on PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. BTIG Research raised their target price on PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wedbush reissued a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research report on Friday, August 16th. Raymond James upped their price objective on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Wolfe Research lowered PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $133.14.

PulteGroup Stock Performance

Shares of PulteGroup stock traded up $5.91 on Friday, hitting $135.13. 2,710,075 shares of the company’s stock were exchanged, compared to its average volume of 1,850,489. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $28.04 billion, a PE ratio of 10.35, a PEG ratio of 0.50 and a beta of 1.61. PulteGroup, Inc. has a 1 year low of $68.80 and a 1 year high of $135.62. The company has a 50-day simple moving average of $118.52 and a 200-day simple moving average 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, topping analysts’ consensus estimates of $3.27 by $0.56. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the previous year, the firm earned $3.00 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts anticipate that PulteGroup, Inc. will post 12.9 EPS for the current year.

About PulteGroup

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.