Bank of Montreal Can lessened its position in PulteGroup, Inc. (NYSE:PHM – Get Rating) by 19.4% during the 2nd quarter, Holdings Channel reports. The firm owned 246,176 shares of the construction company’s stock after selling 59,182 shares during the quarter. Bank of Montreal Can’s holdings in PulteGroup were worth $10,056,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft acquired a new position in PulteGroup during the 2nd quarter worth about $262,000. Ulrich Consultants & Investment Group LLC acquired a new position in PulteGroup during the 2nd quarter worth about $1,332,000. Synovus Financial Corp lifted its position in PulteGroup by 4.2% during the 2nd quarter. Synovus Financial Corp now owns 16,532 shares of the construction company’s stock worth $655,000 after buying an additional 669 shares in the last quarter. Kennedy Capital Management Inc. lifted its position in PulteGroup by 2.8% during the 2nd quarter. Kennedy Capital Management Inc. now owns 23,768 shares of the construction company’s stock worth $942,000 after buying an additional 657 shares in the last quarter. Finally, Cibc World Market Inc. acquired a new position in PulteGroup during the 2nd quarter worth about $298,000. Institutional investors and hedge funds own 89.34% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on PHM. BTIG Research cut their target price on shares of PulteGroup from $52.00 to $50.00 in a research report on Wednesday, October 26th. Raymond James downgraded shares of PulteGroup from a “strong-buy” rating to a “market perform” rating in a research report on Friday, October 21st. JPMorgan Chase & Co. upped their target price on shares of PulteGroup from $43.50 to $65.00 in a research report on Tuesday. Bank of America downgraded shares of PulteGroup from a “buy” rating to a “neutral” rating and upped their target price for the company from $41.00 to $48.00 in a research report on Wednesday, July 27th. Finally, Barclays lowered their price target 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. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.50.
PulteGroup Price Performance
PulteGroup (NYSE:PHM – Get Rating) last posted its 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). PulteGroup had a return on equity of 30.80% and a net margin of 15.56%. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.04 billion. Analysts anticipate that PulteGroup, Inc. will post 10.15 earnings per share for the current fiscal year.
PulteGroup Announces Dividend
The firm also recently declared 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. The ex-dividend date of this dividend was Wednesday, September 21st. This represents a $0.60 annualized dividend and a dividend yield of 1.34%. PulteGroup’s dividend payout ratio is currently 6.09%.
PulteGroup Company Profile
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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