Bank of New York Mellon Corp Has $142.83 Million Stock Holdings in PulteGroup, Inc. $PHM

Bank of New York Mellon Corp decreased its position in PulteGroup, Inc. (NYSE:PHM) by 5.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,354,336 shares of the construction company’s stock after selling 81,676 shares during the period. Bank of New York Mellon Corp owned approximately 0.69% of PulteGroup worth $142,828,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Reyes Financial Architecture Inc. boosted its position in PulteGroup by 42.1% during the 1st quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company’s stock worth $79,000 after acquiring an additional 228 shares during the last quarter. Xponance Inc. lifted its position in shares of PulteGroup by 38.6% in the first quarter. Xponance Inc. now owns 38,993 shares of the construction company’s stock worth $4,008,000 after purchasing an additional 10,867 shares in the last quarter. Florida Financial Advisors LLC boosted its holdings in PulteGroup by 30.5% during the first quarter. Florida Financial Advisors LLC now owns 4,832 shares of the construction company’s stock worth $496,000 after purchasing an additional 1,129 shares during the last quarter. Edgestream Partners L.P. grew its position in PulteGroup by 2,687.0% in the first quarter. Edgestream Partners L.P. now owns 77,310 shares of the construction company’s stock valued at $7,947,000 after purchasing an additional 74,536 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in PulteGroup by 0.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 315,927 shares of the construction company’s stock valued at $32,477,000 after buying an additional 2,930 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on PHM shares. Bank of America cut their price target on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, October 10th. Wells Fargo & Company upped their target price on PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Royal Bank Of Canada raised their price target on PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 23rd. Seaport Res Ptn upgraded PulteGroup from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 22nd. Finally, Citigroup increased their price objective on PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $133.67.

PulteGroup Stock Performance

PHM opened at $118.94 on Friday. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $142.11. The stock has a market cap of $23.18 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 0.95 and a beta of 1.25. The business has a 50 day moving average of $128.47 and a 200-day moving average of $116.11. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the firm earned $3.35 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were given a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 0.7%. PulteGroup’s dividend payout ratio is presently 6.77%.

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, John Wieland Homes and Neighborhoods, and American West brand names.