STA Wealth Management LLC raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 85.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,991 shares of the construction company’s stock after acquiring an additional 12,460 shares during the period. STA Wealth Management LLC’s holdings in PulteGroup were worth $853,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ibex Wealth Advisors acquired a new stake in PulteGroup during the 2nd quarter valued at approximately $37,000. Pearl River Capital LLC acquired a new position in shares of PulteGroup in the 2nd quarter valued at $38,000. Rational Advisors LLC lifted its stake in shares of PulteGroup by 2,191.7% in 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 during the period. Penserra Capital Management LLC lifted its stake in shares of PulteGroup by 74.9% in 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 during the period. Finally, Pendal Group Ltd acquired a new position in shares of PulteGroup in the 2nd quarter valued at $72,000. Institutional investors and hedge funds own 86.33% of the company’s stock.
In other PulteGroup news, insider James L. Ossowski sold 5,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $34.00, for a total transaction of $170,000.00. Following the completion of the transaction, the insider now directly owns 25,750 shares in the company, valued at $875,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian P. Anderson sold 21,191 shares of the company’s stock in a transaction 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 sale, the director now directly owns 80,065 shares of the company’s stock, valued at approximately $2,644,546.95. The disclosure for this sale can be found here. Insiders have sold 44,957 shares of company stock valued at $1,475,705 over the last 90 days. 0.49% of the stock is currently owned by company insiders.
PHM has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded shares of PulteGroup from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $30.00 to $37.50 in a research note on Wednesday, September 11th. SunTrust Banks initiated coverage on shares of PulteGroup in a research note on Monday, August 12th. They issued a “buy” rating and a $38.00 target price for the company. Royal Bank of Canada set a $33.00 target price on shares of PulteGroup and gave the company a “hold” rating in a research note on Monday, August 26th. Finally, Seaport Global Securities initiated coverage on shares of PulteGroup in a research note on Friday, August 23rd. They issued a “buy” rating and a $44.00 target price for the company. 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. The stock has a consensus rating of “Hold” and a consensus target price of $31.49.
NYSE:PHM traded down $0.09 during trading hours on Monday, reaching $35.16. 152,869 shares of the company were exchanged, compared to its average volume of 2,701,677. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average is $32.75 and its 200-day moving average is $31.08. The firm has a market cap of $9.62 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 1.38 and a beta of 0.67. PulteGroup, Inc. has a twelve month low of $20.64 and a twelve month high of $35.55.
PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, July 23rd. The construction company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.04. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.47 billion. PulteGroup had a net margin of 9.23% and a return on equity of 20.68%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. As a group, research analysts anticipate that PulteGroup, Inc. will post 3.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Wednesday, September 18th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, September 17th. 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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