PulteGroup, Inc. (PHM) Holdings Boosted by Bank of America Corp DE

Bank of America Corp DE raised its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,112,473 shares of the construction company’s stock after acquiring an additional 106,483 shares during the period. Bank of America Corp DE owned about 2.50% of PulteGroup worth $204,484,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Signaturefd LLC purchased a new stake in shares of PulteGroup during the 1st quarter valued at $106,000. Twin Tree Management LP purchased a new stake in shares of PulteGroup during the 1st quarter valued at $107,000. First Republic Investment Management Inc. increased its position in shares of PulteGroup by 30.1% during the 1st quarter. First Republic Investment Management Inc. now owns 8,027 shares of the construction company’s stock valued at $237,000 after purchasing an additional 1,859 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of PulteGroup during the 2nd quarter valued at $232,000. Finally, Raymond James Trust N.A. purchased a new stake in shares of PulteGroup during the 2nd quarter valued at $232,000. Institutional investors and hedge funds own 87.12% of the company’s stock.

In related news, Director Brian P. Anderson sold 5,000 shares of PulteGroup stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $28.96, for a total value of $144,800.00. Following the completion of the sale, the director now owns 101,235 shares of the company’s stock, valued at approximately $2,931,765.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.86% of the company’s stock.

Several equities research analysts have recently issued reports on the company. ValuEngine lowered PulteGroup from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Susquehanna Bancshares set a $32.00 target price on PulteGroup and gave the company a “hold” rating in a research report on Friday, July 27th. Citigroup raised PulteGroup from a “sell” rating to a “neutral” rating in a research report on Tuesday, June 19th. Wedbush reaffirmed a “neutral” rating on shares of PulteGroup in a research report on Monday, July 16th. Finally, JMP Securities reaffirmed a “hold” rating on shares of PulteGroup in a research report on Tuesday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $35.14.

Shares of PHM opened at $26.84 on Friday. PulteGroup, Inc. has a fifty-two week low of $25.49 and a fifty-two week high of $35.21. The stock has a market capitalization of $7.70 billion, a P/E ratio of 12.26, a PEG ratio of 0.40 and a beta of 1.04. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.66.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, July 26th. The construction company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.15. PulteGroup had a return on equity of 19.95% and a net margin of 7.92%. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter last year, the firm posted $0.47 EPS. The firm’s revenue for the quarter was up 27.1% on a year-over-year basis. sell-side analysts expect that PulteGroup, Inc. will post 3.51 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Tuesday, September 18th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.34%. The ex-dividend date is Monday, September 17th. PulteGroup’s dividend payout ratio (DPR) is currently 16.44%.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of 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 names.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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