Shell Asset Management Co. cut its stake in shares of PulteGroup Inc. (NYSE:PHM) by 9.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,392 shares of the company’s stock after selling 1,446 shares during the period. Shell Asset Management Co.’s holdings in PulteGroup were worth $261,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. IFP Advisors Inc increased its position in shares of PulteGroup by 69.4% in the first quarter. IFP Advisors Inc now owns 5,507 shares of the company’s stock valued at $103,000 after buying an additional 2,257 shares during the period. First Quadrant L P CA acquired a new stake in PulteGroup during the second quarter valued at approximately $109,000. Creative Planning boosted its stake in PulteGroup by 68.6% in the second quarter. Creative Planning now owns 10,581 shares of the company’s stock valued at $206,000 after buying an additional 4,304 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in PulteGroup during the second quarter valued at approximately $236,000. Finally, LS Investment Advisors LLC boosted its stake in PulteGroup by 12.6% in the second quarter. LS Investment Advisors LLC now owns 17,119 shares of the company’s stock valued at $334,000 after buying an additional 1,920 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.
PulteGroup Inc. (NYSE:PHM) traded up 0.36% during trading on Wednesday, hitting $19.75. The stock had a trading volume of 4,404,159 shares. PulteGroup Inc. has a 1-year low of $14.61 and a 1-year high of $22.40. The stock has a market cap of $6.79 billion, a PE ratio of 13.00 and a beta of 1.50. The firm’s 50-day moving average price is $20.37 and its 200-day moving average price is $19.62.
PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.66 billion. PulteGroup had a return on equity of 11.24% and a net margin of 7.89%. The business’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. On average, equities research analysts predict that PulteGroup Inc. will post $1.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 20th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Friday, September 16th. PulteGroup’s payout ratio is 23.68%.
Several analysts have recently commented on the company. Zacks Investment Research raised PulteGroup from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Monday, July 25th. Deutsche Bank AG raised PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Monday, July 25th. RBC Capital Markets reissued an “outperform” rating and issued a $26.00 price target (up from $23.00) on shares of PulteGroup in a report on Sunday, July 24th. FBR & Co raised their price target on PulteGroup from $20.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 22nd. Finally, Royal Bank Of Canada raised their price target on PulteGroup from $23.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, July 22nd. Four analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of C$20.13.
In other news, CEO Richard J. Dugas, Jr. sold 243,115 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of C$21.96, for a total transaction of C$5,338,805.40. Following the sale, the chief executive officer now directly owns 1,441,759 shares in the company, valued at approximately C$31,661,027.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Harmon D. Smith sold 53,582 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now owns 313,628 shares in the company, valued at C$6,915,497.40. The disclosure for this sale can be found here. Insiders own 1.83% of the company’s stock.
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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