BTC Capital Management Inc. boosted its holdings in PulteGroup, Inc. (NYSE:PHM) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 114,171 shares of the construction company’s stock after acquiring an additional 3,353 shares during the period. BTC Capital Management Inc.’s holdings in PulteGroup were worth $3,280,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of PHM. Mackay Shields LLC acquired a new stake in PulteGroup in the 1st quarter valued at about $1,343,000. Robeco Institutional Asset Management B.V. grew its stake in PulteGroup by 55.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 234,348 shares of the construction company’s stock valued at $6,911,000 after acquiring an additional 84,038 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in PulteGroup by 9.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,631,993 shares of the construction company’s stock valued at $48,128,000 after acquiring an additional 139,423 shares during the last quarter. ETRADE Capital Management LLC grew its stake in PulteGroup by 84.2% in the 1st quarter. ETRADE Capital Management LLC now owns 13,599 shares of the construction company’s stock valued at $401,000 after acquiring an additional 6,215 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its stake in PulteGroup by 1.8% in the 1st quarter. Neuberger Berman Group LLC now owns 568,759 shares of the construction company’s stock valued at $16,773,000 after acquiring an additional 10,281 shares during the last quarter. 87.12% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Brian P. Anderson sold 5,000 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $28.96, for a total transaction of $144,800.00. Following the transaction, the director now directly owns 101,235 shares in the company, valued at approximately $2,931,765.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.86% of the company’s stock.
Shares of PHM stock opened at $27.02 on Monday. The stock has a market cap of $7.80 billion, a PE ratio of 12.34, a P/E/G ratio of 0.40 and a beta of 1.04. PulteGroup, Inc. has a 1-year low of $25.49 and a 1-year high of $35.21. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.40 and a current ratio of 0.40.
PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, July 26th. The construction company reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.15. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.38 billion. PulteGroup had a net margin of 7.92% and a return on equity of 19.95%. The company’s revenue was up 27.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 EPS. analysts forecast that PulteGroup, Inc. will post 3.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Tuesday, September 18th will be issued a dividend of $0.09 per share. The ex-dividend date is Monday, September 17th. This represents a $0.36 annualized dividend and a dividend yield of 1.33%. PulteGroup’s payout ratio is currently 16.44%.
A number of research firms have issued reports on PHM. Zacks Investment Research upgraded shares of PulteGroup from a “hold” rating to a “strong-buy” rating and set a $32.00 target price on the stock in a report on Monday, July 30th. ValuEngine lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Monday, June 4th. JMP Securities restated a “hold” rating on shares of PulteGroup in a report on Tuesday, July 31st. Susquehanna Bancshares set a $32.00 target price on shares of PulteGroup and gave the company a “hold” rating in a report on Friday, July 27th. Finally, Wedbush restated a “neutral” rating on shares of PulteGroup in a report on Monday, July 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. PulteGroup currently has a consensus rating of “Hold” and a consensus price target of $34.93.
PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.
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