Nordea Investment Management AB cut its position in PulteGroup, Inc. (NYSE:PHM – Get Rating) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,151,779 shares of the construction company’s stock after selling 42,666 shares during the quarter. Nordea Investment Management AB owned 0.48% of PulteGroup worth $50,252,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. LPL Financial LLC boosted its holdings in PulteGroup by 1.2% in the third quarter. LPL Financial LLC now owns 56,200 shares of the construction company’s stock valued at $2,581,000 after purchasing an additional 684 shares during the period. Wellington Management Group LLP boosted its holdings in PulteGroup by 19.4% in the third quarter. Wellington Management Group LLP now owns 51,458 shares of the construction company’s stock valued at $2,364,000 after purchasing an additional 8,347 shares during the period. Verition Fund Management LLC purchased a new stake in PulteGroup during the 3rd quarter worth about $452,000. Chartwell Investment Partners LLC lifted its holdings in PulteGroup by 1.0% during the 3rd quarter. Chartwell Investment Partners LLC now owns 38,354 shares of the construction company’s stock worth $1,761,000 after buying an additional 378 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in PulteGroup during the 3rd quarter worth about $309,000. 90.32% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. Wells Fargo & Company cut their target price on PulteGroup from $46.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, June 17th. JPMorgan Chase & Co. cut their target price on PulteGroup from $57.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 13th. Bank of America upgraded PulteGroup from an “underperform” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Monday, February 28th. Wedbush cut their target price on PulteGroup from $68.00 to $57.00 in a research report on Monday, May 2nd. Finally, Credit Suisse Group assumed coverage on PulteGroup in a research report on Tuesday, April 5th. They set an “outperform” rating and a $52.00 target price on the stock. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.58.
PulteGroup (NYSE:PHM – Get Rating) last released its earnings results on Thursday, April 28th. The construction company reported $1.83 earnings per share (EPS) 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 quarter in the previous year, the firm posted $1.28 EPS. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. Equities analysts forecast that PulteGroup, Inc. will post 10.65 earnings per share for the current fiscal year.
The company also recently declared 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. This represents a $0.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, June 9th. PulteGroup’s dividend payout ratio (DPR) 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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