Convergence Investment Partners LLC cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 36.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,862 shares of the construction company’s stock after selling 18,740 shares during the period. Convergence Investment Partners LLC’s holdings in PulteGroup were worth $898,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Achmea Investment Management B.V. acquired a new position in PulteGroup in the second quarter valued at about $253,000. Peloton Wealth Strategists grew its stake in PulteGroup by 4.7% in the second quarter. Peloton Wealth Strategists now owns 89,700 shares of the construction company’s stock valued at $2,200,000 after acquiring an additional 4,000 shares during the period. Aviva PLC grew its stake in PulteGroup by 9.5% in the second quarter. Aviva PLC now owns 179,277 shares of the construction company’s stock valued at $4,399,000 after acquiring an additional 15,540 shares during the period. Mirador Capital Partners LP grew its stake in PulteGroup by 3.7% in the second quarter. Mirador Capital Partners LP now owns 48,655 shares of the construction company’s stock valued at $1,246,000 after acquiring an additional 1,728 shares during the period. Finally, HAP Trading LLC grew its stake in PulteGroup by 26.7% in the second quarter. HAP Trading LLC now owns 96,520 shares of the construction company’s stock valued at $2,368,000 after acquiring an additional 20,336 shares during the period. 84.80% of the stock is owned by institutional investors and hedge funds.
PulteGroup, Inc. (NYSE PHM) traded up $0.49 on Friday, reaching $33.59. The company had a trading volume of 5,180,100 shares, compared to its average volume of 5,087,193. PulteGroup, Inc. has a fifty-two week low of $18.18 and a fifty-two week high of $34.60. The company has a market capitalization of $9,730.33, a price-to-earnings ratio of 16.15, a PEG ratio of 0.88 and a beta of 1.21. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.72.
PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 24th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.01. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.30 billion. PulteGroup had a return on equity of 14.38% and a net margin of 7.77%. PulteGroup’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 earnings per share. equities research analysts anticipate that PulteGroup, Inc. will post 2.2 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Tuesday, December 12th will be paid a $0.09 dividend. The ex-dividend date is Monday, December 11th. This represents a $0.36 annualized dividend and a yield of 1.07%. PulteGroup’s dividend payout ratio is 17.91%.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut PulteGroup from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. KeyCorp reaffirmed a “hold” rating on shares of PulteGroup in a research report on Wednesday, November 1st. Buckingham Research cut PulteGroup from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research report on Tuesday, November 14th. MKM Partners reaffirmed a “neutral” rating on shares of PulteGroup in a research report on Tuesday, September 5th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $28.00 price objective on shares of PulteGroup in a research report on Monday, September 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $29.92.
In other PulteGroup news, insider James R. Ellinghausen sold 136,912 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $29.70, for a total value of $4,066,286.40. Following the sale, the insider now owns 294,369 shares in the company, valued at $8,742,759.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James R. Ellinghausen sold 67,490 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $32.35, for a total value of $2,183,301.50. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.
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PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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