NuWave Investment Management LLC bought a new position in PulteGroup, Inc. (NYSE:PHM – Get Rating) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 5,658 shares of the construction company’s stock, valued at approximately $237,000.
Other large investors have also bought and sold shares of the company. Signaturefd LLC lifted its position in shares of PulteGroup by 6.8% in the fourth quarter. Signaturefd LLC now owns 4,035 shares of the construction company’s stock valued at $231,000 after acquiring an additional 258 shares in the last quarter. Nixon Capital LLC lifted its position in shares of PulteGroup by 0.4% in the fourth quarter. Nixon Capital LLC now owns 68,586 shares of the construction company’s stock valued at $3,920,000 after acquiring an additional 272 shares in the last quarter. Wetherby Asset Management Inc. lifted its position in shares of PulteGroup by 5.5% in the fourth quarter. Wetherby Asset Management Inc. now owns 5,785 shares of the construction company’s stock valued at $331,000 after acquiring an additional 304 shares in the last quarter. Chartwell Investment Partners LLC lifted its position in shares of PulteGroup by 1.0% in the third quarter. Chartwell Investment Partners LLC now owns 38,354 shares of the construction company’s stock valued at $1,761,000 after acquiring an additional 378 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its position in shares of PulteGroup by 303.2% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 504 shares of the construction company’s stock valued at $29,000 after acquiring an additional 379 shares in the last quarter. 90.32% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on PHM shares. Credit Suisse Group started coverage on PulteGroup in a research report on Tuesday, April 5th. They issued an “outperform” rating and a $52.00 price objective on the stock. Royal Bank of Canada cut PulteGroup from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $56.00 to $41.00 in a report on Wednesday. Bank of America raised PulteGroup from an “underperform” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Monday, February 28th. StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, BTIG Research reduced their target price on PulteGroup from $66.00 to $57.00 in a report on Monday, June 6th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.58.
PulteGroup (NYSE:PHM – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The construction company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.13. PulteGroup had a return on equity of 27.91% and a net margin of 14.58%. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the previous year, the firm posted $1.28 earnings per share. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, equities research analysts anticipate that PulteGroup, Inc. will post 10.65 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Friday, June 10th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.58%. PulteGroup’s dividend payout ratio is 7.35%.
PulteGroup Profile (Get Rating)
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, American West, and John Wieland Homes and Neighborhoods brand names.
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