Comerica Bank Sells 32,180 Shares of PulteGroup, Inc. (NYSE:PHM)

Comerica Bank lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHMGet Rating) by 38.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,545 shares of the construction company’s stock after selling 32,180 shares during the period. Comerica Bank’s holdings in PulteGroup were worth $1,919,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PHM. Greenhaven Associates Inc. bought a new position in PulteGroup in the second quarter valued at approximately $168,140,000. AQR Capital Management LLC lifted its position in PulteGroup by 109.1% in the 2nd quarter. AQR Capital Management LLC now owns 3,780,022 shares of the construction company’s stock valued at $147,307,000 after acquiring an additional 1,972,574 shares in the last quarter. First Trust Advisors LP lifted its position in PulteGroup by 29.4% in the 1st 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. Invesco Ltd. lifted its position in PulteGroup by 36.3% in the 1st quarter. Invesco Ltd. now owns 3,651,100 shares of the construction company’s stock valued at $152,982,000 after acquiring an additional 972,310 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of PulteGroup by 123.3% in the first quarter. Prudential Financial Inc. now owns 714,433 shares of the construction company’s stock valued at $29,934,000 after purchasing an additional 394,498 shares in the last quarter. Institutional investors own 88.07% of the company’s stock.

PulteGroup Stock Up 1.1 %

Shares of PHM stock opened at $50.71 on Friday. 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’s 50-day moving average is $46.00 and its 200-day moving average is $42.85. The stock has a market cap of $11.55 billion, a price-to-earnings ratio of 5.14 and a beta of 1.24. PulteGroup, Inc. has a 52-week low of $35.03 and a 52-week high of $54.71.

PulteGroup (NYSE:PHMGet Rating) last released its quarterly earnings data 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%. Sell-side analysts predict that PulteGroup, Inc. will post 10.11 EPS for the current year.

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Wednesday, December 14th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Tuesday, December 13th. This is a boost from PulteGroup’s previous quarterly dividend of $0.15. PulteGroup’s dividend payout ratio is 6.49%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BTIG Research boosted their price target on PulteGroup from $50.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, December 6th. StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a research note on Tuesday, October 11th. Barclays upgraded shares of PulteGroup from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $45.00 to $58.00 in a report on Wednesday, December 14th. Citigroup lifted their price target on shares of PulteGroup from $49.00 to $56.00 in a research note on Tuesday, January 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of PulteGroup from $43.50 to $65.00 in a research note on Tuesday, November 22nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and an average price target of $54.85.

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.

Further Reading

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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