Sumitomo Mitsui Trust Group Inc. lessened its stake in PulteGroup, Inc. (NYSE:PHM – Free Report) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 465,179 shares of the construction company’s stock after selling 13,066 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in PulteGroup were worth $53,989,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in shares of PulteGroup during the 2nd quarter worth approximately $189,931,000. Amundi increased its position in shares of PulteGroup by 28.6% during the first quarter. Amundi now owns 1,438,508 shares of the construction company’s stock valued at $169,183,000 after purchasing an additional 319,617 shares during the period. First Trust Advisors LP increased its position in shares of PulteGroup by 7.8% during the first quarter. First Trust Advisors LP now owns 4,314,501 shares of the construction company’s stock valued at $507,428,000 after purchasing an additional 313,581 shares during the period. State Street Corp raised its stake in shares of PulteGroup by 3.2% in the second quarter. State Street Corp now owns 9,174,111 shares of the construction company’s stock valued at $1,261,092,000 after purchasing an additional 288,054 shares in the last quarter. Finally, iA Global Asset Management Inc. acquired a new position in shares of PulteGroup in the second quarter valued at $38,937,000. 89.90% of the stock is owned by institutional investors and hedge funds.
PulteGroup Price Performance
Shares of PHM stock opened at $126.82 on Wednesday. PulteGroup, Inc. has a 1 year low of $107.15 and a 1 year high of $144.49. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $119.28 and its 200-day moving average is $124.15. The firm has a market capitalization of $23.35 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 2.17 and a beta of 1.17.
PulteGroup (NYSE:PHM – Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The construction company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($0.10). PulteGroup had a net margin of 11.24% and a return on equity of 14.29%. The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the company earned $2.96 EPS. The company’s revenue was down 9.8% compared to the same quarter last year. Sell-side analysts forecast that PulteGroup, Inc. will post 9.51 EPS for the current fiscal year.
PulteGroup Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Tuesday, September 15th were given a $0.26 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. PulteGroup’s dividend payout ratio is currently 11.11%.
Analyst Ratings Changes
PHM has been the subject of a number of analyst reports. Piper Sandler downgraded shares of PulteGroup to a “hold” rating and set a $145.00 price objective for the company. in a report on Thursday, October 8th. UBS Group dropped their price target on shares of PulteGroup from $166.00 to $162.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Weiss Ratings cut shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday. Morgan Stanley decreased their price objective on PulteGroup from $128.00 to $120.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Evercore reiterated an “outperform” rating on shares of PulteGroup in a research note on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and a consensus target price of $136.76.
Check Out Our Latest Analysis on PHM
PulteGroup Company Profile
PulteGroup, Inc is a major U.S. homebuilding company that designs, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its operations include land acquisition and development, home construction, sales and marketing, and customer service.
The company markets homes under several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West. Through these brands, PulteGroup offers a variety of single-family home designs and communities, with products tailored to different price points, lifestyles and stages of homeownership.
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