BlackRock Advisors LLC reduced its stake in shares of PulteGroup Inc. (NYSE:PHM) by 66.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 350,054 shares of the company’s stock after selling 686,194 shares during the period. BlackRock Advisors LLC owned approximately 0.10% of PulteGroup worth $6,823,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in 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. First Quadrant L P CA acquired a new position in PulteGroup during the second quarter valued at approximately $109,000. ING Groep NV acquired a new position in PulteGroup during the second quarter valued at approximately $17,356,000. Stevens First Principles Investment Advisors purchased a new stake in PulteGroup during the second quarter valued at $3,710,000. Finally, Prudential Financial Inc. boosted its stake in PulteGroup by 4.5% in the first quarter. Prudential Financial Inc. now owns 1,102,851 shares of the company’s stock valued at $20,635,000 after buying an additional 47,600 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.
Shares of PulteGroup Inc. (NYSE:PHM) opened at 19.40 on Friday. The firm has a market cap of $6.67 billion, a P/E ratio of 12.77 and a beta of 1.50. The company has a 50-day moving average of $20.24 and a 200 day moving average of $19.62. PulteGroup Inc. has a 52-week low of $14.61 and a 52-week high of $22.40.
PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, July 21st. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company earned $1.80 billion during the quarter, compared to the consensus estimate of $1.66 billion. PulteGroup had a return on equity of 11.24% and a net margin of 7.89%. The firm’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. On average, equities analysts expect that PulteGroup Inc. will post $1.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Tuesday, September 20th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, September 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.86%. PulteGroup’s dividend payout ratio is presently 23.68%.
Several research firms recently weighed in on PHM. Royal Bank Of Canada upped their price objective on shares of PulteGroup from $23.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, July 22nd. Deutsche Bank AG reaffirmed a “buy” rating and set a $27.00 price objective on shares of PulteGroup in a research report on Thursday, September 15th. FBR & Co reaffirmed a “marketperform” rating and set a $24.00 price objective on shares of PulteGroup in a research report on Thursday, September 29th. Zacks Investment Research cut shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Finally, Wells Fargo & Co. began coverage on shares of PulteGroup in a research report on Wednesday, September 28th. They set a “market perform” rating for the company. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of C$20.27.
In related news, insider James R. Ellinghausen sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of C$21.60, for a total transaction of C$2,700,000.00. Following the completion of the transaction, the insider now owns 532,931 shares in the company, valued at C$11,511,309.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Harmon D. Smith sold 53,582 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of C$22.05, for a total value of C$1,181,483.10. Following the transaction, the chief operating officer now owns 313,628 shares of the company’s stock, valued at approximately C$6,915,497.40. The disclosure for this sale can be found here. Corporate insiders own 1.83% of the company’s stock.
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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