Level Four Advisory Services LLC increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM – Free Report) by 13.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,966 shares of the construction company’s stock after purchasing an additional 4,602 shares during the quarter. Level Four Advisory Services LLC’s holdings in PulteGroup were worth $3,027,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of PulteGroup by 1.0% in the first quarter. Vanguard Group Inc. now owns 27,748,609 shares of the construction company’s stock worth $1,162,667,000 after acquiring an additional 261,934 shares in the last quarter. Putnam Investments LLC boosted its position in PulteGroup by 14.7% during the 1st quarter. Putnam Investments LLC now owns 11,010,203 shares of the construction company’s stock worth $641,675,000 after purchasing an additional 1,406,893 shares during the period. State Street Corp increased its holdings in PulteGroup by 2.3% in the 1st quarter. State Street Corp now owns 10,343,160 shares of the construction company’s stock valued at $604,439,000 after purchasing an additional 228,040 shares in the last quarter. First Trust Advisors LP raised its position in PulteGroup by 29.4% in the first quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock valued at $203,232,000 after purchasing an additional 1,101,565 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of PulteGroup by 977.7% during the first quarter. Envestnet Asset Management Inc. now owns 4,697,956 shares of the construction company’s stock worth $26,756,000 after purchasing an additional 4,262,030 shares in the last quarter. Hedge funds and other institutional investors own 89.84% of the company’s stock.
Analyst Upgrades and Downgrades
PHM has been the subject of a number of recent research reports. Oppenheimer increased their target price on PulteGroup from $94.00 to $110.00 in a research note on Wednesday, July 26th. Barclays lifted their price objective on shares of PulteGroup from $90.00 to $104.00 in a research note on Wednesday, July 26th. Bank of America raised their price target on shares of PulteGroup from $82.00 to $92.00 in a report on Wednesday, July 26th. Credit Suisse Group boosted their price objective on shares of PulteGroup from $71.00 to $85.00 in a report on Wednesday, July 26th. Finally, StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.27.
PulteGroup Trading Down 3.3 %
NYSE:PHM opened at $73.90 on Friday. PulteGroup, Inc. has a 52 week low of $35.99 and a 52 week high of $86.15. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.21. The company has a market cap of $16.22 billion, a PE ratio of 6.11, a P/E/G ratio of 0.62 and a beta of 1.39. The business’s 50 day moving average is $80.82 and its two-hundred day moving average is $71.19.
PulteGroup (NYSE:PHM – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The construction company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.69. The firm had revenue of $4.19 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.73 earnings per share. On average, analysts predict that PulteGroup, Inc. will post 11.65 EPS for the current year.
PulteGroup Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 18th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.64 dividend on an annualized basis and a yield of 0.87%. PulteGroup’s dividend payout ratio is currently 5.29%.
About PulteGroup
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.
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