Convergence Investment Partners LLC reduced its holdings in PulteGroup, Inc. (NYSE:PHM) by 68.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,470 shares of the construction company’s stock after selling 29,242 shares during the quarter. Convergence Investment Partners LLC’s holdings in PulteGroup were worth $350,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Boston Partners bought a new position in shares of PulteGroup during the fourth quarter worth about $139,363,000. LSV Asset Management grew its holdings in shares of PulteGroup by 121.7% during the third quarter. LSV Asset Management now owns 8,122,687 shares of the construction company’s stock worth $201,198,000 after buying an additional 4,459,360 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of PulteGroup by 8.5% during the third quarter. Vanguard Group Inc now owns 30,373,220 shares of the construction company’s stock worth $752,345,000 after buying an additional 2,378,937 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of PulteGroup by 26.5% during the third quarter. Bank of New York Mellon Corp now owns 8,749,795 shares of the construction company’s stock worth $216,733,000 after buying an additional 1,834,260 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of PulteGroup by 5,826.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,773,921 shares of the construction company’s stock worth $68,000 after buying an additional 1,743,987 shares in the last quarter. Institutional investors own 87.06% of the company’s stock.
In other PulteGroup news, insider Ryan Marshall sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $27.81, for a total value of $417,150.00. Following the completion of the transaction, the insider now directly owns 453,996 shares in the company, valued at $12,625,628.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by company insiders.
A number of research analysts recently issued reports on the company. Royal Bank of Canada downgraded PulteGroup from a “sector perform” rating to an “underperform” rating and set a $25.00 price objective for the company. in a report on Friday, January 11th. They noted that the move was a valuation call. Buckingham Research assumed coverage on PulteGroup in a report on Friday, January 11th. They set a “neutral” rating and a $30.00 price objective for the company. They noted that the move was a valuation call. Zacks Investment Research downgraded PulteGroup from a “hold” rating to a “sell” rating in a report on Monday, January 7th. ValuEngine upgraded PulteGroup from a “sell” rating to a “hold” rating in a report on Saturday, February 23rd. Finally, BTIG Research downgraded PulteGroup from a “neutral” rating to a “sell” rating and set a $23.00 price objective for the company. in a report on Thursday, January 17th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $28.07.
PHM stock opened at $27.58 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 7.68, a P/E/G ratio of 1.30 and a beta of 0.81. PulteGroup, Inc. has a twelve month low of $20.64 and a twelve month high of $33.04.
PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, January 29th. The construction company reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.02. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.90 billion. PulteGroup had a return on equity of 22.51% and a net margin of 10.03%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. On average, research analysts predict that PulteGroup, Inc. will post 3.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Friday, March 15th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 1.60%. PulteGroup’s dividend payout ratio is 12.26%.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs 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 brand names.
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