Quadrature Capital Ltd raised its stake in shares of PulteGroup, Inc. (NYSE:PHM – Get Rating) by 72.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,256 shares of the construction company’s stock after buying an additional 6,007 shares during the period. Quadrature Capital Ltd’s holdings in PulteGroup were worth $535,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PHM. AQR Capital Management LLC raised its holdings in PulteGroup by 109.1% during the second quarter. AQR Capital Management LLC now owns 3,780,022 shares of the construction company’s stock worth $147,307,000 after purchasing an additional 1,972,574 shares in the last quarter. First Trust Advisors LP raised its stake in shares of PulteGroup by 29.4% in the 1st quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock worth $203,232,000 after buying an additional 1,101,565 shares in the last quarter. Greenhaven Associates Inc. lifted its holdings in shares of PulteGroup by 25.0% in the third quarter. Greenhaven Associates Inc. now owns 5,305,310 shares of the construction company’s stock valued at $198,949,000 after buying an additional 1,062,570 shares during the period. Invesco Ltd. boosted its stake in PulteGroup by 36.3% during the first quarter. Invesco Ltd. now owns 3,651,100 shares of the construction company’s stock valued at $152,982,000 after buying an additional 972,310 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in PulteGroup by 315.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 773,614 shares of the construction company’s stock worth $29,011,000 after acquiring an additional 587,257 shares during the period. 88.07% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. Credit Suisse Group upped their price target on shares of PulteGroup from $52.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, February 1st. JPMorgan Chase & Co. raised their target price on shares of PulteGroup from $65.00 to $74.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Wedbush upped their price target on PulteGroup from $47.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, February 1st. Oppenheimer raised their price objective on PulteGroup from $64.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 1st. Finally, Citigroup boosted their target price on PulteGroup from $56.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.69.
PulteGroup Trading Down 1.8 %
PulteGroup (NYSE:PHM – Get Rating) last announced its quarterly earnings data on Tuesday, January 31st. The construction company reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.75. PulteGroup had a net margin of 16.13% and a return on equity of 31.85%. The firm had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.59 billion. During the same period in the previous year, the firm posted $2.51 earnings per share. The firm’s revenue was up 18.7% on a year-over-year basis. As a group, equities research analysts forecast that PulteGroup, Inc. will post 7.34 earnings per share for the current fiscal year.
PulteGroup Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 4th. Investors of record on Monday, March 20th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 17th. This represents a $0.64 annualized dividend and a dividend yield of 1.20%. PulteGroup’s dividend payout ratio is 5.77%.
Insider Activity at PulteGroup
In other news, VP John J. Chadwick sold 29,817 shares of the firm’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $56.63, for a total transaction of $1,688,536.71. Following the completion of the sale, the vice president now directly owns 87,428 shares of the company’s stock, valued at approximately $4,951,047.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP John J. Chadwick sold 29,817 shares of the firm’s stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $56.63, for a total transaction of $1,688,536.71. Following the transaction, the vice president now owns 87,428 shares in the company, valued at approximately $4,951,047.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Todd N. Sheldon sold 15,998 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $53.83, for a total transaction of $861,172.34. Following the completion of the sale, the executive vice president now owns 82,339 shares of the company’s stock, valued at $4,432,308.37. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,739 shares of company stock valued at $2,845,149. Insiders own 0.71% of the company’s stock.
PulteGroup Company Profile
PulteGroup, Inc engages in the homebuilding business. The firm is also involved in mortgage banking and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment includes operations from 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.
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