First Trust Advisors LP raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 6.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,581 shares of the construction company’s stock after acquiring an additional 23,208 shares during the period. First Trust Advisors LP owned approximately 0.14% of PulteGroup worth $8,673,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in PHM. FinTrust Capital Advisors LLC bought a new stake in PulteGroup during the 4th quarter valued at $30,000. CWM LLC raised its stake in shares of PulteGroup by 51.3% in the 4th quarter. CWM LLC now owns 793 shares of the construction company’s stock worth $31,000 after buying an additional 269 shares in the last quarter. Verus Capital Partners LLC bought a new stake in shares of PulteGroup in the 4th quarter worth $35,000. Lenox Wealth Management Inc. bought a new stake in shares of PulteGroup in the 1st quarter worth $35,000. Finally, Accurate Investment Solutions Inc. bought a new stake in shares of PulteGroup in the 1st quarter worth $40,000. 90.15% of the stock is currently owned by hedge funds and other institutional investors.
In other PulteGroup news, SVP Stephen P. Schlageter sold 18,549 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $26.13, for a total value of $484,685.37. Following the completion of the sale, the senior vice president now owns 86,697 shares of the company’s stock, valued at $2,265,392.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bill Pulte sold 20,198 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $40.21, for a total value of $812,161.58. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.
PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, April 23rd. The construction company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. PulteGroup had a return on equity of 19.53% and a net margin of 10.02%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts anticipate that PulteGroup, Inc. will post 3.19 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.47%. PulteGroup’s dividend payout ratio is currently 13.75%.
A number of research firms have recently commented on PHM. Wells Fargo & Co dropped their price objective on PulteGroup from $50.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, April 24th. Cfra boosted their price objective on PulteGroup from $18.00 to $29.00 and gave the stock a “hold” rating in a research note on Thursday, April 23rd. Citigroup began coverage on PulteGroup in a research note on Wednesday, April 15th. They issued a “buy” rating and a $32.00 price objective on the stock. Susquehanna Bancshares raised PulteGroup from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $50.00 to $51.00 in a research note on Tuesday, March 3rd. Finally, SunTrust Banks lifted their target price on PulteGroup from $27.00 to $32.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $38.40.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.
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