Shell Asset Management Co. raised its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 25.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,904 shares of the construction company’s stock after purchasing an additional 3,840 shares during the quarter. Shell Asset Management Co.’s holdings in PulteGroup were worth $468,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of PHM. Bank of New York Mellon Corp grew its position in shares of PulteGroup by 26.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,749,795 shares of the construction company’s stock worth $216,733,000 after acquiring an additional 1,834,260 shares in the last quarter. LSV Asset Management grew its position in shares of PulteGroup by 121.7% in the 3rd quarter. LSV Asset Management now owns 8,122,687 shares of the construction company’s stock worth $201,198,000 after acquiring an additional 4,459,360 shares in the last quarter. Bank of America Corp DE grew its position in shares of PulteGroup by 1.5% in the 2nd quarter. Bank of America Corp DE now owns 7,112,473 shares of the construction company’s stock worth $204,484,000 after acquiring an additional 106,483 shares in the last quarter. American Century Companies Inc. grew its position in shares of PulteGroup by 53.9% in the 3rd quarter. American Century Companies Inc. now owns 6,096,979 shares of the construction company’s stock worth $151,022,000 after acquiring an additional 2,136,034 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of PulteGroup by 5.8% in the 2nd quarter. Janus Henderson Group PLC now owns 4,711,816 shares of the construction company’s stock worth $135,466,000 after acquiring an additional 260,199 shares in the last quarter. Hedge funds and other institutional investors own 87.67% of the company’s stock.
Shares of PulteGroup stock opened at $26.23 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 0.44 and a beta of 0.91. PulteGroup, Inc. has a 1-year low of $20.64 and a 1-year high of $35.21.
PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, October 23rd. The construction company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.06. PulteGroup had a return on equity of 21.98% and a net margin of 8.63%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. On average, research analysts forecast that PulteGroup, Inc. will post 3.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Tuesday, December 18th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Monday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.09. PulteGroup’s payout ratio is currently 16.44%.
Several research analysts have recently commented on the company. Barclays set a $30.00 target price on PulteGroup and gave the stock a “hold” rating in a research report on Friday, September 14th. JPMorgan Chase & Co. lowered PulteGroup from an “overweight” rating to an “underweight” rating and decreased their target price for the stock from $37.50 to $28.00 in a research report on Friday, September 21st. ValuEngine lowered PulteGroup from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 27th. Bank of America lowered PulteGroup from a “neutral” rating to an “underperform” rating and set a $26.00 target price for the company. in a research report on Monday, November 12th. Finally, Citigroup decreased their target price on PulteGroup from $32.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, October 10th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $31.00.
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PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of 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 names.
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