Northern Trust Corp raised its position in PulteGroup, Inc. (NYSE:PHM) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,746,437 shares of the construction company’s stock after acquiring an additional 7,755 shares during the quarter. Northern Trust Corp owned approximately 1.37% of PulteGroup worth $118,462,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Ibex Wealth Advisors bought a new stake in shares of PulteGroup during the 2nd quarter valued at about $37,000. Pearl River Capital LLC bought a new stake in shares of PulteGroup during the 2nd quarter valued at about $38,000. Rational Advisors LLC boosted its stake in shares of PulteGroup by 2,191.7% during the 2nd quarter. Rational Advisors LLC now owns 1,650 shares of the construction company’s stock valued at $52,000 after purchasing an additional 1,578 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of PulteGroup by 74.9% during the 1st quarter. Penserra Capital Management LLC now owns 2,088 shares of the construction company’s stock valued at $58,000 after purchasing an additional 894 shares in the last quarter. Finally, Pendal Group Ltd bought a new stake in shares of PulteGroup during the 2nd quarter valued at about $72,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.
A number of equities research analysts have recently weighed in on PHM shares. SunTrust Banks assumed coverage on shares of PulteGroup in a research note on Monday, August 12th. They set a “buy” rating and a $38.00 target price on the stock. JPMorgan Chase & Co. raised shares of PulteGroup from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $30.00 to $37.50 in a research note on Wednesday. Seaport Global Securities assumed coverage on shares of PulteGroup in a research note on Friday, August 23rd. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Royal Bank of Canada set a $33.00 price objective on shares of PulteGroup and gave the stock a “hold” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. PulteGroup presently has a consensus rating of “Hold” and an average target price of $31.49.
In other news, Director Brian P. Anderson sold 18,766 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $32.28, for a total value of $605,766.48. Following the transaction, the director now owns 104,735 shares in the company, valued at $3,380,845.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian P. Anderson sold 21,191 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $33.03, for a total transaction of $699,938.73. Following the completion of the transaction, the director now owns 80,065 shares in the company, valued at approximately $2,644,546.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,957 shares of company stock worth $1,475,705. Insiders own 0.49% of the company’s stock.
NYSE:PHM traded up $0.13 during mid-day trading on Friday, hitting $35.20. 172,067 shares of the company’s stock were exchanged, compared to its average volume of 2,629,347. PulteGroup, Inc. has a one year low of $20.64 and a one year high of $35.29. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.51 and a quick ratio of 0.51. The business has a fifty day moving average price of $32.67 and a 200 day moving average price of $31.04. The company has a market cap of $9.39 billion, a PE ratio of 9.81, a P/E/G ratio of 1.35 and a beta of 0.67.
PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, July 23rd. The construction company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. PulteGroup had a net margin of 9.23% and a return on equity of 20.68%. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. PulteGroup’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities analysts forecast that PulteGroup, Inc. will post 3.42 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Wednesday, September 18th will be paid a $0.11 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.44 annualized dividend and a dividend yield of 1.25%. PulteGroup’s dividend payout ratio is presently 12.26%.
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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