Raymond James & Associates Has $11.73 Million Stake in PulteGroup, Inc. (NYSE:PHM)

Raymond James & Associates trimmed its holdings in PulteGroup, Inc. (NYSE:PHMGet Rating) by 19.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 312,761 shares of the construction company’s stock after selling 74,879 shares during the period. Raymond James & Associates’ holdings in PulteGroup were worth $11,728,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Greenhaven Associates Inc. acquired a new stake in PulteGroup during the 2nd quarter worth approximately $168,140,000. AQR Capital Management LLC lifted its holdings in PulteGroup by 109.1% during the 2nd quarter. AQR Capital Management LLC now owns 3,780,022 shares of the construction company’s stock worth $147,307,000 after purchasing an additional 1,972,574 shares during the last quarter. First Trust Advisors LP lifted its holdings 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 last quarter. Invesco Ltd. lifted its holdings 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 last quarter. Finally, Prudential Financial Inc. lifted its holdings in PulteGroup by 123.3% during the 1st quarter. Prudential Financial Inc. now owns 714,433 shares of the construction company’s stock worth $29,934,000 after purchasing an additional 394,498 shares during the last quarter. 88.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PHM has been the subject of several research reports. StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a report on Tuesday, October 11th. Raymond James lowered PulteGroup from a “strong-buy” rating to a “market perform” rating in a research note on Friday, October 21st. Citigroup raised their price objective on PulteGroup from $49.00 to $56.00 in a research note on Tuesday. KeyCorp raised their price objective on PulteGroup from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, November 14th. Finally, JPMorgan Chase & Co. raised their price objective on PulteGroup from $43.50 to $65.00 in a research note on Tuesday, November 22nd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.92.

PulteGroup Trading Up 0.6 %

Shares of PHM opened at $48.43 on Wednesday. PulteGroup, Inc. has a 52-week low of $35.03 and a 52-week high of $58.09. The business’s fifty day moving average is $44.28 and its 200-day moving average is $42.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 4.91, a PEG ratio of 3.96 and a beta of 1.24.

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 the consensus estimate of $2.73 by ($0.04). The business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $4.04 billion. PulteGroup had a net margin of 15.56% and a return on equity of 30.80%. Equities analysts anticipate that PulteGroup, Inc. will post 10.14 EPS for the current fiscal year.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Wednesday, December 14th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, December 13th. This represents a $0.64 dividend on an annualized basis and a yield of 1.32%. This is a positive change from PulteGroup’s previous quarterly dividend of $0.15. PulteGroup’s payout ratio is currently 6.49%.

PulteGroup Company Profile

(Get Rating)

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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