Livforsakringsbolaget Skandia Omsesidigt increased its position in PulteGroup, Inc. (NYSE:PHM – Free Report) by 68.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,448 shares of the construction company’s stock after buying an additional 25,800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in PulteGroup were worth $4,927,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. lifted its stake in shares of PulteGroup by 9.5% during 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 during the period. Cetera Advisor Networks LLC purchased a new position in PulteGroup during the first quarter worth about $221,000. PNC Financial Services Group Inc. boosted its stake in 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 buying an additional 382 shares during the last quarter. Acadian Asset Management LLC grew its holdings in PulteGroup by 11.1% in the 1st quarter. Acadian Asset Management LLC now owns 4,487 shares of the construction company’s stock valued at $188,000 after buying an additional 449 shares during the period. Finally, MetLife Investment Management LLC increased its stake in shares of PulteGroup by 26.7% during the 1st quarter. MetLife Investment Management LLC now owns 70,856 shares of the construction company’s stock valued at $2,969,000 after acquiring an additional 14,918 shares during the last quarter. Hedge funds and other institutional investors own 89.84% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. UBS Group raised their target price on shares of PulteGroup from $81.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Raymond James boosted their price objective on shares of PulteGroup from $93.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Royal Bank of Canada increased their target price on PulteGroup from $68.00 to $90.00 in a research report on Wednesday, July 26th. Seaport Res Ptn reissued a “buy” rating on shares of PulteGroup in a research report on Wednesday, June 14th. Finally, StockNews.com began coverage on PulteGroup in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $86.27.
PulteGroup Stock Up 1.7 %
Shares of PHM traded up $1.30 during mid-day trading on Thursday, reaching $78.26. 571,998 shares of the stock traded hands, compared to its average volume of 2,691,370. The stock has a fifty day simple moving average of $80.96 and a 200 day simple moving average of $70.38. PulteGroup, Inc. has a 12-month low of $35.99 and a 12-month high of $86.15. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.21. The firm has a market cap of $17.17 billion, a price-to-earnings ratio of 6.36, a P/E/G ratio of 0.65 and a beta of 1.39.
PulteGroup (NYSE:PHM – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The construction company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.69. PulteGroup had a net margin of 16.37% and a return on equity of 29.58%. The business had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the business earned $2.73 EPS. The business’s revenue was up 6.7% on a year-over-year basis. Sell-side analysts expect that PulteGroup, Inc. will post 11.65 EPS for the current fiscal year.
PulteGroup Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 18th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, September 15th. PulteGroup’s payout ratio is 5.29%.
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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