Short Interest in PulteGroup, Inc. (NYSE:PHM) Increases By 28.1%

PulteGroup, Inc. (NYSE:PHM) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 6,250,000 shares, a growth of 28.1% from the June 30th total of 4,880,000 shares. Based on an average trading volume of 4,010,000 shares, the short-interest ratio is currently 1.6 days. Currently, 2.4% of the shares of the stock are sold short.

A number of analysts have recently issued reports on the company. Zacks Investment Research raised PulteGroup from a “hold” rating to a “strong-buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, July 28th. SunTrust Banks boosted their price objective on PulteGroup from $27.00 to $32.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. raised PulteGroup from a “neutral” rating to an “overweight” rating and set a $41.00 price objective on the stock in a research note on Thursday, June 11th. They noted that the move was a valuation call. Wells Fargo & Co raised PulteGroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $49.00 in a research note on Monday, July 27th. Finally, ValuEngine downgraded PulteGroup from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $42.76.

Several hedge funds have recently bought and sold shares of the stock. Comerica Bank raised its holdings in shares of PulteGroup by 7.5% in the 2nd quarter. Comerica Bank now owns 124,002 shares of the construction company’s stock valued at $4,891,000 after buying an additional 8,678 shares during the period. Greenhaven Associates Inc. grew its stake in PulteGroup by 57.3% during the 2nd quarter. Greenhaven Associates Inc. now owns 5,250,246 shares of the construction company’s stock worth $178,666,000 after purchasing an additional 1,911,503 shares in the last quarter. Lincoln National Corp acquired a new position in PulteGroup during the 2nd quarter worth $210,000. Fox Run Management L.L.C. acquired a new position in PulteGroup during the 2nd quarter worth $208,000. Finally, PAX Financial Group LLC grew its stake in PulteGroup by 18.8% during the 2nd quarter. PAX Financial Group LLC now owns 9,529 shares of the construction company’s stock worth $324,000 after purchasing an additional 1,506 shares in the last quarter. Hedge funds and other institutional investors own 84.95% of the company’s stock.

Shares of PHM stock traded down $0.27 on Friday, hitting $43.60. The stock had a trading volume of 2,694,840 shares, compared to its average volume of 3,628,256. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $11.69 billion, a P/E ratio of 10.28, a P/E/G ratio of 1.12 and a beta of 1.34. PulteGroup has a 1 year low of $17.12 and a 1 year high of $47.37. The company’s 50 day moving average price is $36.09 and its 200-day moving average price is $34.65.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, July 23rd. The construction company reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.31. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.53 billion. PulteGroup had a return on equity of 20.10% and a net margin of 10.94%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. On average, equities analysts forecast that PulteGroup will post 4.14 EPS for the current year.

About PulteGroup

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.

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