Stock Alert: PulteGroup Up 4% On Higher Q1 Results

Shares of home construction company PulteGroup, Inc. (PHM) are up 4 percent on Tuesday’s trading as the company reported higher income and revenues in the first quarter.

The company posted net income of $304 million or $1.13 per share in the first quarter, higher than $204 million or $0.74 per share in the year-ago period.

Adjusted net income came in at $343 million or $1.28 per share, up from $219 million or $0.80 per share in the same period last year.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $1.2 per share in the quarter.

Total revenues came in at $2.7 billion during the quarter, while analysts were looking for revenues of $2.8 billion for the period.

The stock was trading at $57.32, up $2.64 or 4% on the NYSE.

PHM has traded between $26.10 and $58.08 in the past 52-weeks.

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