HRT Financial LP lessened its holdings in PulteGroup, Inc. (NYSE:PHM – Get Rating) by 85.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,973 shares of the construction company’s stock after selling 152,628 shares during the period. HRT Financial LP’s holdings in PulteGroup were worth $1,228,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Balyasny Asset Management LLC acquired a new stake in PulteGroup during the 3rd quarter worth about $78,542,000. First Trust Advisors LP boosted its holdings in shares of PulteGroup by 29.4% during the first quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock worth $203,232,000 after purchasing an additional 1,101,565 shares during the period. Invesco Ltd. grew its position 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 purchasing an additional 972,310 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in PulteGroup by 315.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 773,614 shares of the construction company’s stock valued at $29,011,000 after buying an additional 587,257 shares during the period. Finally, Teachers Retirement System of The State of Kentucky purchased a new stake in PulteGroup in the 3rd quarter worth approximately $17,541,000. Institutional investors and hedge funds own 88.07% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on PHM. KeyCorp upped their price target on shares of PulteGroup from $51.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. VNET Group reaffirmed a “maintains” rating on shares of PulteGroup in a research note on Wednesday, April 26th. JPMorgan Chase & Co. boosted their price target on PulteGroup from $65.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. BTIG Research raised their price objective on shares of PulteGroup from $68.00 to $83.00 in a research report on Wednesday, April 26th. Finally, Wolfe Research raised shares of PulteGroup from a “peer perform” rating to an “outperform” rating and set a $64.00 target price for the company in a research report on Wednesday, March 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.14.
Insider Activity
PulteGroup Stock Performance
PHM opened at $65.87 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average price is $63.06 and its two-hundred day moving average price is $54.57. The firm has a market capitalization of $14.70 billion, a P/E ratio of 5.67, a price-to-earnings-growth ratio of 0.45 and a beta of 1.33. PulteGroup, Inc. has a 12-month low of $35.03 and a 12-month high of $70.54.
PulteGroup (NYSE:PHM – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The construction company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.57. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.27 billion. PulteGroup had a return on equity of 31.03% and a net margin of 16.22%. PulteGroup’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.83 earnings per share. On average, equities analysts forecast that PulteGroup, Inc. will post 9.05 earnings per share for the current year.
PulteGroup Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Tuesday, June 20th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, June 16th. This represents a $0.64 annualized dividend and a dividend yield of 0.97%. PulteGroup’s payout ratio is 5.51%.
PulteGroup announced that its board has authorized a share buyback plan on Tuesday, April 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 6.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
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.
Featured Articles
- Get a free copy of the StockNews.com research report on PulteGroup (PHM)
- MarketBeat Week in Review – 5/22 – 5/26
- Big Lots Becomes A Stomach Churning Value Play
- The Melt-Up In Marvell Is On; But Don’t Chase It Higher
- Is Apple a Growth Stock or a Value Stock?
- Costco’s Earnings Call Reassure Economists, Recession Cancelled
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.
