Lmm Lowers stake in PulteGroup (PHM)

PulteGroup (PHM) : Lmm reduced its stake in PulteGroup by 13.93% during the most recent quarter end. The investment management company now holds a total of 3,962,225 shares of PulteGroup which is valued at $83,801,059 after selling 641,400 shares in PulteGroup , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.PulteGroup makes up approximately 4.82% of Lmm’s portfolio.

Other Hedge Funds, Including , Beaconlight Capital sold out all of its stake in PHM during the most recent quarter. The investment firm sold 146,600 shares of PHM which is valued $3,100,590.Raymond James Associates boosted its stake in PHM in the latest quarter, The investment management firm added 218,620 additional shares and now holds a total of 455,486 shares of PulteGroup which is valued at $9,633,529. PulteGroup makes up approx 0.03% of Raymond James Associates’s portfolio.Dimensional Fund Advisors Lp boosted its stake in PHM in the latest quarter, The investment management firm added 2,132,979 additional shares and now holds a total of 10,166,771 shares of PulteGroup which is valued at $216,145,551. PulteGroup makes up approx 0.12% of Dimensional Fund Advisors Lp’s portfolio.Victory Capital Management Inc boosted its stake in PHM in the latest quarter, The investment management firm added 2,160 additional shares and now holds a total of 47,461 shares of PulteGroup which is valued at $1,015,191. 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.

PulteGroup closed down -0.27 points or -1.26% at $21.1 with 44,43,093 shares getting traded on Thursday. Post opening the session at $21.4, the shares hit an intraday low of $21.04 and an intraday high of $21.56 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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