Victory Capital Management Inc. boosted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 340.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 191,116 shares of the construction company’s stock after buying an additional 147,686 shares during the period. Victory Capital Management Inc. owned 0.06% of PulteGroup worth $4,501,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Trust Department MB Financial Bank N A bought a new stake in PulteGroup during the first quarter valued at $129,000. IFP Advisors Inc boosted its stake in PulteGroup by 12.0% in the first quarter. IFP Advisors Inc now owns 5,959 shares of the construction company’s stock valued at $140,000 after buying an additional 638 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in PulteGroup by 12.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,380 shares of the construction company’s stock valued at $150,000 after buying an additional 702 shares during the period. Ameritas Investment Partners Inc. bought a new stake in PulteGroup during the first quarter valued at $155,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of PulteGroup by 1.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,162 shares of the construction company’s stock worth $187,000 after buying an additional 110 shares during the last quarter. 87.76% of the stock is owned by hedge funds and other institutional investors.
PulteGroup, Inc. (NYSE PHM) traded up 0.70% during trading on Tuesday, hitting $24.33. 2,481,334 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $23.09 and its 200 day moving average price is $21.81. PulteGroup, Inc. has a 12-month low of $17.69 and a 12-month high of $24.73. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 13.43 and a beta of 1.21.
PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, April 25th. The construction company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.77 billion. PulteGroup had a net margin of 7.77% and a return on equity of 12.74%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. Equities analysts forecast that PulteGroup, Inc. will post $2.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Thursday, June 8th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $0.36 dividend on an annualized basis and a yield of 1.49%. PulteGroup’s dividend payout ratio (DPR) is presently 19.78%.
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A number of equities research analysts have issued reports on PHM shares. BidaskClub raised shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Zacks Investment Research lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Wedbush reissued an “underperform” rating and set a $15.00 price objective on shares of PulteGroup in a research note on Tuesday, April 25th. Mizuho initiated coverage on shares of PulteGroup in a research note on Tuesday, May 16th. They set a “neutral” rating and a $22.00 price objective on the stock. Finally, Barclays PLC reissued an “overweight” rating and set a $24.00 price objective (up previously from $23.00) on shares of PulteGroup in a research note on Tuesday, March 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. PulteGroup presently has an average rating of “Buy” and a consensus price target of $23.30.
In related news, Director Richard J. Dugas, Jr. sold 162,000 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $24.08, for a total transaction of $3,900,960.00. Following the sale, the director now directly owns 1,211,927 shares in the company, valued at $29,183,202.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian P. Anderson sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total transaction of $324,520.00. Following the sale, the director now owns 108,744 shares in the company, valued at $2,520,685.92. The disclosure for this sale can be found here. Insiders have sold 191,000 shares of company stock worth $4,582,230 over the last quarter. Insiders own 0.71% of the company’s stock.
PulteGroup Company Profile
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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