Ameriprise Financial Inc. cut its holdings in PulteGroup, Inc. (NYSE:PHM – Free Report) by 17.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,224,586 shares of the construction company’s stock after selling 689,578 shares during the period. Ameriprise Financial Inc. owned 1.44% of PulteGroup worth $188,015,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PHM. Arlington Partners LLC purchased a new position in shares of PulteGroup in the first quarter worth $26,000. Clear Street Markets LLC increased its holdings in PulteGroup by 90.9% in the 1st quarter. Clear Street Markets LLC now owns 441 shares of the construction company’s stock valued at $26,000 after acquiring an additional 210 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in PulteGroup in the 1st quarter worth $28,000. Headlands Technologies LLC bought a new position in shares of PulteGroup during the 1st quarter valued at about $32,000. Finally, CVA Family Office LLC grew its position in shares of PulteGroup by 222.9% during the fourth quarter. CVA Family Office LLC now owns 565 shares of the construction company’s stock valued at $26,000 after purchasing an additional 390 shares in the last quarter. 89.84% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently commented on PHM. Credit Suisse Group boosted their target price on PulteGroup from $71.00 to $85.00 in a research report on Wednesday, July 26th. Barclays raised their target price on shares of PulteGroup from $90.00 to $104.00 in a report on Wednesday, July 26th. Seaport Res Ptn reaffirmed a “buy” rating on shares of PulteGroup in a research note on Wednesday, June 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of PulteGroup in a research note on Wednesday, May 31st. They issued a “buy” rating and a $95.00 price objective for the company. Finally, Raymond James upped their target price on shares of PulteGroup from $93.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus target price of $86.27.
PulteGroup Stock Performance
PHM stock opened at $76.27 on Friday. PulteGroup, Inc. has a twelve month low of $35.99 and a twelve month high of $86.15. The firm has a market cap of $16.74 billion, a price-to-earnings ratio of 6.30, a PEG ratio of 0.62 and a beta of 1.39. The business’s fifty day simple moving average is $81.03 and its two-hundred day simple moving average is $70.44. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.21.
PulteGroup (NYSE:PHM – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The construction company reported $3.21 EPS for the quarter, topping the consensus estimate of $2.52 by $0.69. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.01 billion. PulteGroup had a net margin of 16.37% and a return on equity of 29.58%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.73 EPS. Analysts predict that PulteGroup, Inc. will post 11.65 earnings per share for the current year.
PulteGroup Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 18th will be issued a $0.16 dividend. The ex-dividend date is Friday, September 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.84%. PulteGroup’s payout ratio is 5.29%.
PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, American West, and John Wieland Homes and Neighborhoods brand names.
See Also
- Five stocks we like better than PulteGroup
- 3 Tickers Leading a Meme Stock Revival
- China’s Jump In Car Sales Is Drawing Big Money To These Stocks
- What is Short Interest? How to Use It
- 3 Reasons Price Weakness Is a Buying Opportunity For Lennar
- Stock Dividend Cuts Happen Are You Ready?
- Name A Better Trio Than These Underrated High Potential Stocks
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 – Free Report).
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.
