Wells Fargo & Company MN lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 19.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,446,366 shares of the construction company’s stock after selling 354,020 shares during the quarter. Wells Fargo & Company MN’s holdings in PulteGroup were worth $40,440,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Scout Investments Inc. grew its stake in PulteGroup by 249.7% in the 1st quarter. Scout Investments Inc. now owns 707,605 shares of the construction company’s stock valued at $19,785,000 after purchasing an additional 505,265 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in PulteGroup by 36.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 329,218 shares of the construction company’s stock valued at $8,556,000 after purchasing an additional 88,187 shares during the period. Advisor Group Inc. grew its stake in PulteGroup by 16.6% in the 4th quarter. Advisor Group Inc. now owns 62,958 shares of the construction company’s stock valued at $1,635,000 after purchasing an additional 8,967 shares during the period. Paradigm Financial Partners LLC bought a new position in PulteGroup in the 4th quarter valued at $1,184,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in PulteGroup in the 1st quarter valued at $280,000. Institutional investors and hedge funds own 84.76% of the company’s stock.
A number of brokerages have issued reports on PHM. Zacks Investment Research upgraded PulteGroup from a “sell” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Thursday, April 25th. BTIG Research raised PulteGroup from a “sell” rating to a “neutral” rating and set a $31.35 price target on the stock in a research report on Wednesday, April 24th. Buckingham Research upped their price target on PulteGroup from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. raised PulteGroup from an “underweight” rating to a “neutral” rating and upped their price target for the company from $24.00 to $25.50 in a research report on Wednesday, April 10th. Finally, Barclays set a $28.00 price target on PulteGroup and gave the company a “hold” rating in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $28.53.
Shares of NYSE PHM opened at $32.16 on Thursday. PulteGroup, Inc. has a one year low of $20.64 and a one year high of $33.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $9.01 billion, a PE ratio of 8.96, a PEG ratio of 1.42 and a beta of 0.79.
PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, April 23rd. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.12. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.93 billion. PulteGroup had a return on equity of 21.65% and a net margin of 9.97%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 EPS. As a group, research analysts expect that PulteGroup, Inc. will post 3.4 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Friday, June 14th will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.44 dividend on an annualized basis and a yield of 1.37%. PulteGroup’s dividend payout ratio (DPR) is 12.26%.
In related news, SVP James L. Ossowski sold 10,000 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $31.19, for a total transaction of $311,900.00. Following the sale, the senior vice president now owns 25,750 shares of the company’s stock, valued at approximately $803,142.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Oshaughnessy sold 95,738 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $31.42, for a total value of $3,008,087.96. Following the sale, the chief financial officer now directly owns 334,213 shares in the company, valued at approximately $10,500,972.46. The disclosure for this sale can be found here. Insiders have sold a total of 157,846 shares of company stock worth $4,959,732 in the last three months. 0.49% of the stock is currently owned by insiders.
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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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