Smithfield Trust Co. boosted its position in shares of PulteGroup, Inc. (NYSE:PHM) by 122.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,335 shares of the construction company’s stock after buying an additional 735 shares during the period. Smithfield Trust Co.’s holdings in PulteGroup were worth $46,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of PulteGroup during the 1st quarter worth approximately $384,000. AXA boosted its holdings in shares of PulteGroup by 13.5% in the 1st quarter. AXA now owns 1,065,100 shares of the construction company’s stock valued at $23,773,000 after purchasing an additional 126,500 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of PulteGroup by 43.8% in the 2nd quarter. Pacer Advisors Inc. now owns 75,120 shares of the construction company’s stock valued at $2,556,000 after purchasing an additional 22,886 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of PulteGroup by 181.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 311,813 shares of the construction company’s stock worth $6,960,000 after buying an additional 200,962 shares in the last quarter. Finally, Regentatlantic Capital LLC raised its holdings in shares of PulteGroup by 66.0% during the 1st quarter. Regentatlantic Capital LLC now owns 90,431 shares of the construction company’s stock worth $2,018,000 after buying an additional 35,947 shares in the last quarter. 85.59% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Robert Oshaughnessy sold 54,774 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $44.08, for a total value of $2,414,437.92. Following the transaction, the chief financial officer now owns 244,743 shares in the company, valued at $10,788,271.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.60% of the stock is owned by company insiders.
NYSE PHM opened at $45.38 on Friday. The firm has a market capitalization of $11.96 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 1.15 and a beta of 1.43. The business’s 50-day moving average price is $44.67 and its two-hundred day moving average price is $34.79. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.47. PulteGroup, Inc. has a 12 month low of $17.12 and a 12 month high of $48.00.
PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, July 23rd. The construction company reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.31. PulteGroup had a return on equity of 20.10% and a net margin of 10.94%. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, analysts forecast that PulteGroup, Inc. will post 4.14 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Monday, September 21st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, September 18th. PulteGroup’s dividend payout ratio (DPR) is presently 13.75%.
A number of research firms have issued reports on PHM. Royal Bank of Canada reiterated a “hold” rating on shares of PulteGroup in a research report on Thursday, July 30th. ValuEngine upgraded shares of PulteGroup from a “strong sell” rating to a “sell” rating in a research report on Monday, August 3rd. Susquehanna Bancshares downgraded shares of PulteGroup from a “positive” rating to a “neutral” rating and increased their price objective for the company from $34.00 to $37.00 in a research note on Tuesday, July 21st. Barclays boosted their target price on shares of PulteGroup from $36.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, July 24th. Finally, Credit Suisse Group increased their price target on PulteGroup from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $42.69.
PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs 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 brand names.
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