Bank of Nova Scotia Decreases Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Bank of Nova Scotia lowered its stake in PulteGroup, Inc. (NYSE:PHMGet Rating) by 52.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,149 shares of the construction company’s stock after selling 47,724 shares during the period. Bank of Nova Scotia’s holdings in PulteGroup were worth $1,712,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in PulteGroup by 1.0% in the first quarter. Vanguard Group Inc. now owns 27,748,609 shares of the construction company’s stock valued at $1,162,667,000 after acquiring an additional 261,934 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in PulteGroup by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 6,510,934 shares of the construction company’s stock valued at $272,892,000 after acquiring an additional 116,075 shares in the last quarter. First Trust Advisors LP boosted its holdings in PulteGroup by 29.4% in the first quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock valued at $203,232,000 after acquiring an additional 1,101,565 shares in the last quarter. Greenhaven Associates Inc. bought a new stake in shares of PulteGroup during the 2nd quarter valued at $168,140,000. Finally, Invesco Ltd. boosted its holdings in shares of PulteGroup by 36.3% during the 1st quarter. Invesco Ltd. now owns 3,651,100 shares of the construction company’s stock valued at $152,982,000 after buying an additional 972,310 shares in the last quarter. Institutional investors own 89.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PHM shares. Wells Fargo & Company lifted their price target on PulteGroup to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Raymond James lowered shares of PulteGroup from a “strong-buy” rating to a “market perform” rating in a research report on Friday, October 21st. Barclays cut their price objective on PulteGroup from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 26th. Bank of America downgraded PulteGroup from a “buy” rating to a “neutral” rating and upped their price target for the stock from $41.00 to $48.00 in a research note on Wednesday, July 27th. Finally, KeyCorp upped their price target on PulteGroup from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.21.

PulteGroup Stock Down 2.0 %

Shares of PHM stock opened at $42.84 on Friday. The stock has a market cap of $9.76 billion, a P/E ratio of 4.34, a P/E/G ratio of 2.48 and a beta of 1.28. PulteGroup, Inc. has a twelve month low of $35.03 and a twelve month high of $58.09. The stock has a 50 day moving average of $39.65 and a 200 day moving average of $41.50. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.25.

PulteGroup (NYSE:PHMGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The construction company reported $2.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.73 by ($0.04). The firm had revenue of $3.94 billion during the quarter, compared to analyst estimates of $4.04 billion. PulteGroup had a return on equity of 30.80% and a net margin of 15.56%. As a group, sell-side analysts expect that PulteGroup, Inc. will post 10.15 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Thursday, September 22nd were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, September 21st. This represents a $0.60 annualized dividend and a yield of 1.40%. PulteGroup’s dividend payout ratio (DPR) is 6.09%.

About PulteGroup

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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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