Bank of New York Mellon Corp lowered its position in PulteGroup, Inc. (NYSE:PHM) by 0.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,915,535 shares of the construction company’s stock after selling 44,635 shares during the period. Bank of New York Mellon Corp owned about 2.43% of PulteGroup worth $198,822,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the business. LSV Asset Management increased its stake in shares of PulteGroup by 39.6% during the second quarter. LSV Asset Management now owns 3,663,327 shares of the construction company’s stock worth $105,320,000 after purchasing an additional 1,039,931 shares in the last quarter. Morgan Stanley increased its stake in shares of PulteGroup by 35.9% during the second quarter. Morgan Stanley now owns 3,812,643 shares of the construction company’s stock worth $109,614,000 after purchasing an additional 1,007,452 shares in the last quarter. American Century Companies Inc. increased its stake in shares of PulteGroup by 26.1% during the second quarter. American Century Companies Inc. now owns 3,960,945 shares of the construction company’s stock worth $113,877,000 after purchasing an additional 818,727 shares in the last quarter. Investec Asset Management LTD purchased a new stake in shares of PulteGroup during the second quarter worth about $20,944,000. Finally, Victory Capital Management Inc. increased its stake in shares of PulteGroup by 475.9% during the second quarter. Victory Capital Management Inc. now owns 617,249 shares of the construction company’s stock worth $17,746,000 after purchasing an additional 510,070 shares in the last quarter. Institutional investors and hedge funds own 85.91% of the company’s stock.
In related news, Director Brian P. Anderson sold 5,000 shares of the company’s 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 completion of the sale, the director now owns 101,235 shares of the company’s stock, valued at approximately $2,931,765.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.
PHM has been the subject of a number of research reports. Zacks Investment Research raised shares of PulteGroup from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a research note on Monday, July 30th. Mizuho set a $28.00 target price on shares of PulteGroup and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Susquehanna Bancshares set a $32.00 target price on shares of PulteGroup and gave the stock a “hold” rating in a research note on Friday, July 27th. JMP Securities reissued a “hold” rating on shares of PulteGroup in a research note on Tuesday, July 31st. Finally, Barclays cut their target price on shares of PulteGroup from $30.00 to $25.00 and set a “hold” rating for the company in a research note on Wednesday, October 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.13.
Shares of NYSE PHM opened at $24.27 on Friday. PulteGroup, Inc. has a 12-month low of $20.64 and a 12-month high of $35.21. The stock has a market cap of $6.99 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 0.39 and a beta of 1.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.56 and a quick ratio of 0.56.
PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 23rd. The construction company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. PulteGroup had a net margin of 8.63% and a return on equity of 21.98%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the company earned $0.60 EPS. PulteGroup’s revenue was up 24.3% compared to the same quarter last year. As a group, equities analysts forecast that PulteGroup, Inc. will post 3.58 earnings per share for the current year.
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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