Cerity Partners LLC Takes Position in PulteGroup, Inc. (NYSE:PHM)

Cerity Partners LLC bought a new stake in PulteGroup, Inc. (NYSE:PHMGet Rating) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 5,207 shares of the construction company’s stock, valued at approximately $207,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of PulteGroup by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 27,748,609 shares of the construction company’s stock valued at $1,162,667,000 after buying an additional 261,934 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in PulteGroup by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,510,934 shares of the construction company’s stock worth $272,892,000 after purchasing an additional 116,075 shares during the period. First Trust Advisors LP boosted its stake in PulteGroup by 29.4% during the 1st quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock worth $203,232,000 after purchasing an additional 1,101,565 shares during the period. Greenhaven Associates Inc. acquired a new stake in PulteGroup during the 2nd quarter worth $168,140,000. Finally, Invesco Ltd. boosted its stake in PulteGroup by 36.3% during the 1st 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 during the period. Institutional investors and hedge funds own 89.34% of the company’s stock.

PulteGroup Stock Performance

Shares of PHM opened at $43.73 on Wednesday. The company has a 50-day simple moving average of $39.77 and a 200-day simple moving average of $41.46. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $9.96 billion, a PE ratio of 4.44, a P/E/G ratio of 2.41 and a beta of 1.28. PulteGroup, Inc. has a 52-week low of $35.03 and a 52-week high of $58.09.

PulteGroup (NYSE:PHMGet Rating) last announced 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 company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.04 billion. PulteGroup had a net margin of 15.56% and a return on equity of 30.80%. Equities research analysts predict that PulteGroup, Inc. will post 10.15 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Thursday, September 22nd were issued a $0.15 dividend. The ex-dividend date was Wednesday, September 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.37%. PulteGroup’s dividend payout ratio is presently 6.09%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PHM shares. Barclays decreased their price target on shares of 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 cut 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. StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Tuesday, October 11th. BTIG Research cut their price objective on shares of PulteGroup from $52.00 to $50.00 in a research report on Wednesday, October 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of PulteGroup from $43.50 to $65.00 in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.

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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