Artemis Investment Management LLP boosted its stake in PulteGroup Inc. (NYSE:PHM) by 100.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,290,000 shares of the company’s stock after buying an additional 645,000 shares during the period. Artemis Investment Management LLP’s holdings in PulteGroup were worth $25,136,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. boosted its stake in shares of PulteGroup by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,667,707 shares of the company’s stock valued at $180,883,000 after buying an additional 36,785 shares during the period. Norges Bank bought a new stake in shares of PulteGroup during the fourth quarter valued at about $50,019,000. Geode Capital Management LLC boosted its stake in shares of PulteGroup by 1.8% in the first quarter. Geode Capital Management LLC now owns 2,662,099 shares of the company’s stock valued at $49,708,000 after buying an additional 46,478 shares during the period. BlackRock Group LTD boosted its stake in shares of PulteGroup by 11.9% in the first quarter. BlackRock Group LTD now owns 2,625,175 shares of the company’s stock valued at $49,117,000 after buying an additional 278,771 shares during the period. Finally, BB&T Securities LLC boosted its stake in shares of PulteGroup by 7,606.5% in the first quarter. BB&T Securities LLC now owns 1,917,538 shares of the company’s stock valued at $35,877,000 after buying an additional 1,892,656 shares during the period. Institutional investors own 89.08% of the company’s stock.
Shares of PulteGroup Inc. (NYSE:PHM) traded down 0.25% during trading on Friday, hitting $19.81. The company had a trading volume of 3,918,443 shares. The firm has a market capitalization of $6.81 billion, a P/E ratio of 13.04 and a beta of 1.59. The stock’s 50-day moving average is $20.84 and its 200 day moving average is $19.44. PulteGroup Inc. has a 52-week low of $14.61 and a 52-week high of $22.40.
PulteGroup (NYSE:PHM) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. PulteGroup had a net margin of 7.89% and a return on equity of 11.24%. The company earned $1.80 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm posted $0.28 earnings per share. PulteGroup’s revenue for the quarter was up 40.6% on a year-over-year basis. Equities research analysts predict that PulteGroup Inc. will post $1.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 20th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 16th. This represents a $0.36 annualized dividend and a yield of 1.82%. PulteGroup’s dividend payout ratio is presently 23.68%.
Several brokerages have issued reports on PHM. Royal Bank Of Canada increased their target price on PulteGroup from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, July 22nd. Deutsche Bank AG reaffirmed a “buy” rating and set a $27.00 target price on shares of PulteGroup in a research report on Thursday, September 15th. FBR & Co increased their target price on PulteGroup from $20.00 to $24.00 and gave the company a “market perform” rating in a research report on Friday, July 22nd. MKM Partners reaffirmed a “hold” rating on shares of PulteGroup in a research report on Wednesday, June 8th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $26.00 target price (up previously from $23.00) on shares of PulteGroup in a research report on Sunday, July 24th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of C$20.13.
In other news, VP James R. Ellinghausen sold 100,000 shares of the stock in a transaction dated Friday, July 8th. The shares were sold at an average price of C$20.25, for a total transaction of C$2,025,000.00. Following the completion of the sale, the vice president now owns 532,931 shares in the company, valued at C$10,791,852.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP James L. Ossowski sold 10,000 shares of the stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of C$20.00, for a total transaction of C$200,000.00. Following the sale, the vice president now owns 51,880 shares of the company’s stock, valued at approximately C$1,037,600. The disclosure for this sale can be found here. 1.83% of the stock is currently owned by company insiders.
PulteGroup Company Profile
PulteGroup, Inc is a homebuilder operating in the United States. The Company, through Pulte Mortgage LLC, is engaged in mortgage banking operations and title operations. The Company’s subsidiaries are also engaged in the homebuilding business. The Company operates through Homebuilding and Financial Services segments.
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