US Bancorp DE Cuts Position in PulteGroup, Inc. (NYSE:PHM)

US Bancorp DE cut its stake in PulteGroup, Inc. (NYSE:PHM – Get Rating) by 9.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,661 shares of the construction company’s stock after selling 1,352 shares during the quarter. US Bancorp DE’s holdings in PulteGroup were worth $512,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PHM. American Century Companies Inc. boosted its position in shares of PulteGroup by 9.5% in the 1st quarter. American Century Companies Inc. now owns 55,196 shares of the construction company’s stock worth $2,313,000 after purchasing an additional 4,799 shares in the last quarter. Cetera Advisor Networks LLC acquired a new stake in shares of PulteGroup in the 1st quarter worth $221,000. PNC Financial Services Group Inc. boosted its position in shares of PulteGroup by 1.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 22,505 shares of the construction company’s stock worth $945,000 after purchasing an additional 382 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of PulteGroup by 11.1% in the 1st quarter. Acadian Asset Management LLC now owns 4,487 shares of the construction company’s stock worth $188,000 after purchasing an additional 449 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of PulteGroup by 26.7% in the 1st quarter. MetLife Investment Management LLC now owns 70,856 shares of the construction company’s stock worth $2,969,000 after purchasing an additional 14,918 shares in the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $50.71 on Monday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.25. PulteGroup, Inc. has a twelve month low of $35.03 and a twelve month high of $54.71. The business has a 50-day moving average price of $46.00 and a 200 day moving average price of $42.84. The firm has a market cap of $11.55 billion, a PE ratio of 5.14 and a beta of 1.24.

PulteGroup (NYSE:PHM – Get 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 net margin of 15.56% and a return on equity of 30.80%. The business had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Sell-side analysts predict that PulteGroup, Inc. will post 10.12 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Wednesday, December 14th were paid a dividend of $0.16 per share. This is a positive change from PulteGroup’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Tuesday, December 13th. PulteGroup’s payout ratio is 6.49%.

Analyst Ratings Changes

A number of analysts have commented on the company. Raymond James cut PulteGroup from a “strong-buy” rating to a “market perform” rating in a research report on Friday, October 21st. Oppenheimer assumed coverage on PulteGroup in a research report on Wednesday, January 18th. They set an “outperform” rating and a $64.00 price target for the company. Bank of America raised PulteGroup from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $60.00 in a research report on Wednesday, January 11th. BTIG Research lifted their price target on PulteGroup from $50.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, December 6th. Finally, The Goldman Sachs Group lifted their price target on PulteGroup from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 12th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average 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.