Moody National Bank Trust Division Buys New Stake in PulteGroup, Inc. (NYSE:PHM)

Moody National Bank Trust Division acquired a new position in PulteGroup, Inc. (NYSE:PHMGet Rating) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,306 shares of the construction company’s stock, valued at approximately $250,000.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of PulteGroup by 1.0% in the first quarter. Vanguard Group Inc. now owns 27,748,609 shares of the construction company’s stock worth $1,162,667,000 after acquiring an additional 261,934 shares during the period. State Street Corp raised its position in shares of PulteGroup by 4.4% in the fourth quarter. State Street Corp now owns 13,096,326 shares of the construction company’s stock worth $750,513,000 after acquiring an additional 547,399 shares during the period. Dimensional Fund Advisors LP raised its position in shares of PulteGroup by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 6,510,934 shares of the construction company’s stock worth $272,892,000 after acquiring an additional 116,075 shares during the period. First Trust Advisors LP raised its position in shares of PulteGroup by 29.4% in the first quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock worth $203,232,000 after acquiring an additional 1,101,565 shares during the period. Finally, Invesco Ltd. increased its stake in shares of PulteGroup by 36.3% during the first quarter. Invesco Ltd. now owns 3,651,100 shares of the construction company’s stock worth $152,982,000 after purchasing an additional 972,310 shares in the last quarter. Institutional investors and hedge funds own 89.34% of the company’s stock.

PulteGroup Stock Performance

NYSE:PHM opened at $39.98 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market capitalization of $9.26 billion, a price-to-earnings ratio of 4.45, a PEG ratio of 2.09 and a beta of 1.33. The company’s 50-day moving average is $42.46 and its two-hundred day moving average is $42.80. PulteGroup, Inc. has a 1-year low of $35.03 and a 1-year high of $58.09.

PulteGroup (NYSE:PHMGet Rating) last posted its earnings results on Tuesday, July 26th. The construction company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.15. PulteGroup had a net margin of 15.02% and a return on equity of 29.81%. The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same period in the previous year, the business posted $1.72 EPS. PulteGroup’s revenue was up 16.9% on a year-over-year basis. Analysts forecast that PulteGroup, Inc. will post 11.26 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Thursday, September 22nd will be issued a $0.15 dividend. The ex-dividend date is Wednesday, September 21st. This represents a $0.60 annualized dividend and a dividend yield of 1.50%. PulteGroup’s dividend payout ratio is currently 6.67%.

Analysts Set New Price Targets

A number of research firms have recently commented on PHM. Royal Bank of Canada cut shares of PulteGroup from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $56.00 to $41.00 in a research note on Wednesday, June 22nd. Bank of America cut shares of PulteGroup from a “buy” rating to a “neutral” rating and upped their price objective for the company from $41.00 to $48.00 in a research note on Wednesday, July 27th. Barclays dropped their price objective on shares of PulteGroup from $49.00 to $48.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. Wells Fargo & Company upped their price objective on shares of PulteGroup to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PulteGroup from $51.00 to $49.50 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.21.

PulteGroup Company Profile

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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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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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