Cumberland Partners Ltd Lowers stake in PulteGroup (PHM)

PulteGroup (PHM) : Cumberland Partners Ltd reduced its stake in PulteGroup by 7.24% during the most recent quarter end. The investment management company now holds a total of 1,699,105 shares of PulteGroup which is valued at $37,567,212 after selling 132,595 shares in PulteGroup , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.PulteGroup makes up approximately 5.14% of Cumberland Partners Ltd’s portfolio.

Other Hedge Funds, Including , Calamos Advisors added PHM to its portfolio by purchasing 52,952 company shares during the most recent quarter which is valued at $1,170,769. PulteGroup makes up approx 0.01% of Calamos Advisors’s portfolio. Atalanta Sosnoff Capital sold out all of its stake in PHM during the most recent quarter. The investment firm sold 281,981 shares of PHM which is valued $6,234,600.Wealthtrust-arizona boosted its stake in PHM in the latest quarter, The investment management firm added 101 additional shares and now holds a total of 305 shares of PulteGroup which is valued at $6,664. Fox Run Management L.l.c. added PHM to its portfolio by purchasing 17,200 company shares during the most recent quarter which is valued at $351,224. PulteGroup makes up approx 0.16% of Fox Run Management L.l.c.’s portfolio. First Manhattan Co added PHM to its portfolio by purchasing 405 company shares during the most recent quarter which is valued at $8,286.

PulteGroup closed down -0.54 points or -2.49% at $21.18 with 1,17,43,882 shares getting traded on Friday. Post opening the session at $21.72, the shares hit an intraday low of $21.07 and an intraday high of $21.84 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, PulteGroup reported $0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.32. The company had revenue of $1799.90 million for the quarter, compared to analysts expectations of $1662.71 million. The company’s revenue was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Many Wall Street Analysts have commented on PulteGroup. Company shares were Upgraded by Deutsche Bank on Jul 25, 2016 to ” Buy”, Firm has raised the Price Target to $ 27 from a previous price target of $20 .Company shares were Reiterated by FBR Capital on Jul 22, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 24 from a previous price target of $20 .PulteGroup was Upgraded by JP Morgan to ” Overweight” on Jul 22, 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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