Towerview adds PulteGroup (PHM) to its portfolio

PulteGroup (PHM) : Towerview added new position in PulteGroup during the most recent quarter end. The investment management firm now holds 175,000 shares of PulteGroup which is valued at $3,823,750 , the company said in a statement filed on Jul 20, 2016 with the SEC.PulteGroup makes up approximately 1.64% of Towerview’s portfolio.

Other Hedge Funds, Including , 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.Nisa Investment Advisors boosted its stake in PHM in the latest quarter, The investment management firm added 6,020 additional shares and now holds a total of 100,554 shares of PulteGroup which is valued at $2,057,335. PulteGroup makes up approx 0.03% of Nisa Investment Advisors’s portfolio.Hexavest boosted its stake in PHM in the latest quarter, The investment management firm added 21,671 additional shares and now holds a total of 1,377,318 shares of PulteGroup which is valued at $28,179,926. PulteGroup makes up approx 0.42% of Hexavest’s portfolio.

PulteGroup opened for trading at $20.39 and hit $20.51 on the upside on Wednesday, eventually ending the session at $20.42, with a gain of 0.25% or 0.05 points. The heightened volatility saw the trading volume jump to 43,33,421 shares. Company has a market cap of $7,066 M.

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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