Pt Asset Management buys $1,186,515 stake in PulteGroup (PHM)

PulteGroup (PHM) : Pt Asset Management scooped up 900 additional shares in PulteGroup during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 56,100 shares of PulteGroup which is valued at $1,186,515.PulteGroup makes up approximately 2.95% of Pt Asset Management’s portfolio.

Other Hedge Funds, Including , Meiji Yasuda Asset Management Co Ltd. added PHM to its portfolio by purchasing 18,990 company shares during the most recent quarter which is valued at $401,639. PulteGroup makes up approx 0.06% of Meiji Yasuda Asset Management Co Ltd.’s portfolio.Glenmede Trust Co Na reduced its stake in PHM by selling 8,071 shares or 25.83% in the most recent quarter. The Hedge Fund company now holds 23,174 shares of PHM which is valued at $499,168.Cumberland Partners Ltd reduced its stake in PHM by selling 132,595 shares or 7.24% in the most recent quarter. The Hedge Fund company now holds 1,699,105 shares of PHM which is valued at $37,567,212. PulteGroup makes up approx 5.14% of Cumberland Partners Ltd’s portfolio.New York State Teachers Retirement System reduced its stake in PHM by selling 266 shares or 0.04% in the most recent quarter. The Hedge Fund company now holds 615,250 shares of PHM which is valued at $13,443,213. PulteGroup makes up approx 0.03% of New York State Teachers Retirement System’s portfolio.

PulteGroup closed down -0.01 points or -0.05% at $21.18 with 39,08,941 shares getting traded on Monday. Post opening the session at $21.16, the shares hit an intraday low of $21.16 and an intraday high of $21.39 and the price fluctuated in this range throughout the day.Shares ended Monday 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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