Dulcet Capital Management Lowers stake in PulteGroup (PHM)

PulteGroup (PHM) : Dulcet Capital Management reduced its stake in PulteGroup by 8.09% during the most recent quarter end. The investment management company now holds a total of 2,022,111 shares of PulteGroup which is valued at $42,767,648 after selling 177,889 shares in PulteGroup , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.PulteGroup makes up approximately 12.29% of Dulcet Capital Management’s portfolio.

Other Hedge Funds, Including , Cantab Capital Partners Llp reduced its stake in PHM by selling 1,151 shares or 5.53% in the most recent quarter. The Hedge Fund company now holds 19,679 shares of PHM which is valued at $416,211. PulteGroup makes up approx 0.10% of Cantab Capital Partners Llp’s portfolio.Public Sector Pension Investment Board boosted its stake in PHM in the latest quarter, The investment management firm added 8,600 additional shares and now holds a total of 59,734 shares of PulteGroup which is valued at $1,263,374. PulteGroup makes up approx 0.02% of Public Sector Pension Investment Board’s portfolio.Boston Partners boosted its stake in PHM in the latest quarter, The investment management firm added 8,773,436 additional shares and now holds a total of 25,047,967 shares of PulteGroup which is valued at $539,533,209. PulteGroup makes up approx 0.74% of Boston Partners’s portfolio.Greenhaven Associates Inc boosted its stake in PHM in the latest quarter, The investment management firm added 415,913 additional shares and now holds a total of 4,751,081 shares of PulteGroup which is valued at $99,820,212. PulteGroup makes up approx 1.87% of Greenhaven Associates Inc’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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