New York State Teachers Retirement System reduced its stake in PulteGroup Inc. (NYSE:PHM) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 615,250 shares of the company’s stock after selling 266 shares during the period. New York State Teachers Retirement System’s holdings in PulteGroup were worth $11,991,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oakbrook Investments LLC raised its stake in shares of PulteGroup by 18.2% in the second quarter. Oakbrook Investments LLC now owns 43,580 shares of the company’s stock worth $849,000 after buying an additional 6,700 shares during the period. Goelzer Investment Management Inc. acquired a new stake in shares of PulteGroup during the second quarter worth $7,769,000. LS Investment Advisors LLC raised its stake in shares of PulteGroup by 12.6% in the second quarter. LS Investment Advisors LLC now owns 17,119 shares of the company’s stock worth $334,000 after buying an additional 1,920 shares during the period. Towerview LLC acquired a new stake in shares of PulteGroup during the second quarter worth $3,411,000. Finally, First Quadrant L P CA acquired a new stake in shares of PulteGroup during the second quarter worth $109,000. 89.08% of the stock is owned by hedge funds and other institutional investors.
PulteGroup Inc. (NYSE:PHM) traded down 0.25% during mid-day trading on Friday, reaching $19.81. The company had a trading volume of 3,918,443 shares. PulteGroup Inc. has a 12-month low of $14.61 and a 12-month high of $22.40. The stock has a 50-day moving average of $20.80 and a 200 day moving average of $19.46. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 13.04 and a beta of 1.59.
PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate 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%. PulteGroup’s revenue was up 40.6% on a year-over-year basis. During the same period last year, the business posted $0.28 earnings per share. On average, analysts expect that PulteGroup Inc. will post $1.61 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 20th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Friday, September 16th. PulteGroup’s dividend payout ratio is currently 23.68%.
A number of brokerages have recently weighed in on PHM. Deutsche Bank AG restated a “buy” rating and issued a $27.00 target price on shares of PulteGroup in a research note on Thursday, September 15th. Credit Suisse Group AG reiterated a “sell” rating on shares of PulteGroup in a research report on Tuesday, June 28th. TheStreet upgraded PulteGroup from a “hold” rating to a “buy” rating in a research report on Tuesday, June 28th. FBR & Co lifted their price objective on PulteGroup from $20.00 to $24.00 and gave the stock a “market perform” rating in a research report on Friday, July 22nd. Finally, JPMorgan Chase & Co. upgraded PulteGroup from a “neutral” rating to an “overweight” rating and set a $26.00 price objective for the company in a research report on Friday, July 22nd. Four analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of C$20.13.
In other PulteGroup news, COO Harmon D. Smith sold 53,582 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of C$22.05, for a total value of C$1,181,483.10. Following the completion of the sale, the chief operating officer now directly owns 313,628 shares of the company’s stock, valued at C$6,915,497.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven M. Cook sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of C$22.06, for a total value of C$441,200.00. Following the completion of the sale, the executive vice president now directly owns 261,626 shares of the company’s stock, valued at C$5,771,469.56. The disclosure for this sale can be found here. 1.83% of the stock is owned by company insiders.
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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