Hexavest buys $50,293,500 stake in PulteGroup (PHM)

PulteGroup (PHM) : Hexavest scooped up 1,178,246 additional shares in PulteGroup during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 2,555,564 shares of PulteGroup which is valued at $50,293,500.PulteGroup makes up approximately 0.92% of Hexavest’s portfolio.

Other Hedge Funds, Including , Nisa Investment Advisors boosted its stake in PHM in the latest quarter, The investment management firm added 5,900 additional shares and now holds a total of 106,454 shares of PulteGroup which is valued at $2,095,015. PulteGroup makes up approx 0.03% of Nisa Investment Advisors’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in PHM by selling 2,544 shares or 3.12% in the most recent quarter. The Hedge Fund company now holds 78,965 shares of PHM which is valued at $1,574,562. PulteGroup makes up approx 0.03% of Exxonmobil Investment Management Inc Tx’s portfolio.Chevy Chase Trust Holdings reduced its stake in PHM by selling 9,619 shares or 3.57% in the most recent quarter. The Hedge Fund company now holds 259,686 shares of PHM which is valued at $5,310,579. PulteGroup makes up approx 0.03% of Chevy Chase Trust Holdings’s portfolio.

PulteGroup closed down -0.25 points or -1.25% at $19.68 with 50,80,979 shares getting traded on Tuesday. Post opening the session at $19.85, the shares hit an intraday low of $19.51 and an intraday high of $19.92 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. PulteGroup was Initiated by Wells Fargo to “Market Perform” on Sep 29, 2016. Wedbush Initiated PulteGroup on Sep 20, 2016 to “Underperform”, Price Target of the shares are set at $16.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 .

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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