Panagora Asset Management Inc. Has $48.72 Million Position in PulteGroup, Inc. (NYSE:PHM)

Panagora Asset Management Inc. lessened its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 21.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,060,995 shares of the construction company’s stock after selling 289,993 shares during the quarter. Panagora Asset Management Inc. owned about 0.42% of PulteGroup worth $48,721,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC lifted its position in shares of PulteGroup by 79.0% during the 2nd quarter. FMR LLC now owns 4,698,794 shares of the construction company’s stock worth $256,414,000 after buying an additional 2,073,823 shares in the last quarter. Appaloosa LP purchased a new position in PulteGroup in the 2nd quarter valued at approximately $82,356,000. Nordea Investment Management AB grew its stake in PulteGroup by 96.6% in the 3rd quarter. Nordea Investment Management AB now owns 2,349,560 shares of the construction company’s stock valued at $112,214,000 after buying an additional 1,154,608 shares in the last quarter. Millennium Management LLC grew its position in shares of PulteGroup by 75.3% during the 2nd quarter. Millennium Management LLC now owns 1,496,465 shares of the construction company’s stock valued at $81,662,000 after purchasing an additional 642,818 shares in the last quarter. Finally, Liberty Wealth Management LLC grew its position in shares of PulteGroup by 5,371.8% during the 2nd quarter. Liberty Wealth Management LLC now owns 626,577 shares of the construction company’s stock valued at $11,482,000 after purchasing an additional 615,126 shares in the last quarter. 85.28% of the stock is currently owned by institutional investors and hedge funds.

Shares of PulteGroup stock opened at $57.09 on Friday. The company has a market cap of $14.45 billion, a P/E ratio of 8.82, a PEG ratio of 0.27 and a beta of 1.44. PulteGroup, Inc. has a 52-week low of $42.15 and a 52-week high of $63.90. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average price is $53.53 and its 200-day moving average price is $51.97.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 26th. The construction company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.79 by $0.03. PulteGroup had a net margin of 13.49% and a return on equity of 24.55%. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the business posted $1.34 EPS. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, equities research analysts forecast that PulteGroup, Inc. will post 7.16 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 4th. Shareholders of record on Wednesday, December 15th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.05%. This is a boost from PulteGroup’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Tuesday, December 14th. PulteGroup’s payout ratio is presently 9.27%.

PHM has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of PulteGroup from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, December 15th. Raymond James boosted their price objective on shares of PulteGroup from $68.00 to $70.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 27th. JPMorgan Chase & Co. reduced their price target on shares of PulteGroup from $81.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday, October 14th. Citigroup upped their price objective on shares of PulteGroup from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, October 27th. Finally, Bank of America assumed coverage on shares of PulteGroup in a research note on Monday, November 8th. They issued an “underperform” rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PulteGroup has a consensus rating of “Buy” and a consensus price target of $64.30.

About PulteGroup

PulteGroup, Inc engages in the homebuilding business. The firm also involved in the mortgage banking, and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment comprises of operations from the Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington.

Recommended Story: Price Target

Want to see what other hedge funds are holding PHM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PulteGroup, Inc. (NYSE:PHM).

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

Receive News & Ratings for PulteGroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PulteGroup and related companies with MarketBeat.com's FREE daily email newsletter.