Wilsey Asset Management Inc buys $7,829,550 stake in PulteGroup (PHM)

PulteGroup (PHM) : Wilsey Asset Management Inc scooped up 1,346 additional shares in PulteGroup during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 11, 2016. The investment management firm now holds a total of 419,815 shares of PulteGroup which is valued at $7,829,550.PulteGroup makes up approximately 5.51% of Wilsey Asset Management Inc’s portfolio.

PulteGroup opened for trading at $18.32 and hit $18.74 on the upside on Friday, eventually ending the session at $18.65, with a gain of 1.75% or 0.32 points. The heightened volatility saw the trading volume jump to 53,51,283 shares. Company has a market cap of $6,512 M.

Other Hedge Funds, Including , British Columbia Investment Management Corp boosted its stake in PHM in the latest quarter, The investment management firm added 44,844 additional shares and now holds a total of 113,915 shares of PulteGroup which is valued at $2,002,626. PulteGroup makes up approx 0.02% of British Columbia Investment Management Corp’s portfolio.Creative Planning reduced its stake in PHM by selling 325 shares or 4.92% in the most recent quarter. The Hedge Fund company now holds 6,277 shares of PHM which is valued at $110,350.Chevy Chase Trust Holdings boosted its stake in PHM in the latest quarter, The investment management firm added 11,864 additional shares and now holds a total of 268,951 shares of PulteGroup which is valued at $4,728,159. PulteGroup makes up approx 0.03% of Chevy Chase Trust Holdings’s portfolio.

On the company’s financial health, PulteGroup reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $0.49. The company had revenue of $2061.60 million for the quarter, compared to analysts expectations of $1849.95 million. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

Many Wall Street Analysts have commented on PulteGroup. Barclays Upgraded PulteGroup on Apr 6, 2016 to ” Equal Weight”, Price Target of the shares are set at $18.Shares were Downgraded by JP Morgan on Apr 5, 2016 to ” Neutral” and Lowered the Price Target to $ 18 from a previous price target of $21.50 .PulteGroup was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Apr 4, 2016.

PulteGroup Inc. (PulteGroup) is a homebuilder operating in the United States. The Company’s subsidiaries engage in the homebuilding business. The Company also offers mortgage banking operations through Pulte Mortgage LLC (Pulte Mortgage) and title operations. It offers a variety of home designs including single-family detached townhouses condominiums and duplexes. It has delivered approximately 640000 homes. It operates in approximately 49 markets located throughout 26 states. The Company operates through its Homebuilding and Financial Services segments. The Company’s Homebuilding Operations include the acquisition and development of land for residential purposes within the United States and the construction of housing on such land. The Financial Services operations consist of mortgage banking and title operations.

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