Advisors Asset Management Inc. Increases Stake in PulteGroup, Inc. (NYSE:PHM)

Advisors Asset Management Inc. raised its position in shares of PulteGroup, Inc. (NYSE:PHMGet Rating) by 283.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,711 shares of the construction company’s stock after purchasing an additional 4,962 shares during the quarter. Advisors Asset Management Inc.’s holdings in PulteGroup were worth $266,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. PSI Advisors LLC raised its holdings in PulteGroup by 18.5% in the 2nd quarter. PSI Advisors LLC now owns 1,600 shares of the construction company’s stock worth $63,000 after purchasing an additional 250 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in PulteGroup by 3.5% in the 1st quarter. Crossmark Global Holdings Inc. now owns 7,917 shares of the construction company’s stock worth $331,000 after purchasing an additional 270 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in PulteGroup by 3.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 9,432 shares of the construction company’s stock worth $374,000 after purchasing an additional 291 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in PulteGroup by 4.4% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 7,006 shares of the construction company’s stock worth $278,000 after purchasing an additional 294 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in PulteGroup by 5.0% in the 1st quarter. National Bank of Canada FI now owns 6,800 shares of the construction company’s stock worth $285,000 after purchasing an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 89.34% of the company’s stock.

Analyst Ratings Changes

PHM has been the subject of several research reports. Bank of America lowered shares of PulteGroup from a “buy” rating to a “neutral” rating and increased their price target for the stock from $41.00 to $48.00 in a research note on Wednesday, July 27th. Raymond James lowered shares of PulteGroup from a “strong-buy” rating to a “market perform” rating in a research note on Friday, October 21st. Wedbush decreased their price target on shares of PulteGroup to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Citigroup increased their price target on shares of PulteGroup to $51.00 in a research note on Thursday, October 13th. Finally, BTIG Research decreased their price target on shares of PulteGroup from $52.00 to $50.00 in a research note on Wednesday, October 26th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $49.21.

PulteGroup Trading Up 0.0 %

PulteGroup stock opened at $42.85 on Monday. The stock has a market cap of $9.76 billion, a P/E ratio of 4.35, a PEG ratio of 2.44 and a beta of 1.28. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.26 and a quick ratio of 0.26. PulteGroup, Inc. has a 1 year low of $35.03 and a 1 year high of $58.09. The firm’s 50 day moving average price is $39.67 and its 200-day moving average price is $41.46.

PulteGroup (NYSE:PHMGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The construction company reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.73 by ($0.04). PulteGroup had a return on equity of 30.80% and a net margin of 15.56%. The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.04 billion. On average, equities analysts predict that PulteGroup, Inc. will post 10.15 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Thursday, September 22nd were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Wednesday, September 21st. PulteGroup’s dividend payout ratio is currently 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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