TD Waterhouse Canada Inc. cut its holdings in PulteGroup, Inc. (NYSE:PHM – Free Report) by 12.1% in the second quarter, Holdings Channel reports. The fund owned 45,479 shares of the construction company’s stock after selling 6,253 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in PulteGroup were worth $6,036,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Focus Partners Wealth grew its stake in shares of PulteGroup by 20.5% during the first quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock worth $1,287,000 after acquiring an additional 2,128 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in PulteGroup by 197.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock valued at $128,000 after purchasing an additional 804 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of PulteGroup by 12.9% in the second quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock worth $898,000 after buying an additional 975 shares during the last quarter. Baird Financial Group Inc. grew its stake in shares of PulteGroup by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock worth $3,065,000 after purchasing an additional 2,164 shares during the period. Finally, Cerity Partners LLC grew its position in PulteGroup by 17.6% during the second quarter. Cerity Partners LLC now owns 41,677 shares of the construction company’s stock valued at $4,395,000 after buying an additional 6,240 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have weighed in on PHM shares. Weiss Ratings upgraded shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 21st. Barclays upped their target price on PulteGroup from $123.00 to $124.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Wolfe Research set a $129.00 price target on shares of PulteGroup and gave the company an “outperform” rating in a research report on Monday, August 24th. Citigroup reaffirmed a “market outperform” rating on shares of PulteGroup in a research report on Tuesday, August 18th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of PulteGroup in a research note on Tuesday, May 26th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.20.
PulteGroup Trading Up 0.2%
NYSE:PHM opened at $124.68 on Monday. The stock’s 50 day moving average price is $128.73 and its 200 day moving average price is $125.01. The company has a market capitalization of $23.37 billion, a PE ratio of 12.74, a P/E/G ratio of 1.54 and a beta of 1.19. PulteGroup, Inc. has a 52-week low of $108.49 and a 52-week high of $144.49. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14.
PulteGroup (NYSE:PHM – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.12. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.94 billion. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period last year, the firm earned $3.03 EPS. On average, research analysts anticipate that PulteGroup, Inc. will post 10.12 EPS for the current year.
PulteGroup Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th. PulteGroup’s payout ratio is 10.62%.
PulteGroup Company Profile
PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.
PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.
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