Berkshire Asset Management LLC PA boosted its position in PulteGroup, Inc. (NYSE:PHM) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 256,928 shares of the construction company’s stock after buying an additional 5,054 shares during the period. Berkshire Asset Management LLC PA owned approximately 0.09% of PulteGroup worth $6,364,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in PulteGroup by 1.5% in the 2nd quarter. Bank of America Corp DE now owns 7,112,473 shares of the construction company’s stock worth $204,484,000 after purchasing an additional 106,483 shares in the last quarter. Greenhaven Associates Inc. boosted its position in PulteGroup by 7.1% in the 2nd quarter. Greenhaven Associates Inc. now owns 6,987,595 shares of the construction company’s stock worth $200,893,000 after purchasing an additional 464,700 shares in the last quarter. Millennium Management LLC boosted its position in PulteGroup by 2,993.9% in the 1st quarter. Millennium Management LLC now owns 6,059,291 shares of the construction company’s stock worth $178,688,000 after purchasing an additional 5,863,443 shares in the last quarter. Janus Henderson Group PLC boosted its position in PulteGroup by 5.8% in the 2nd quarter. Janus Henderson Group PLC now owns 4,711,816 shares of the construction company’s stock worth $135,466,000 after purchasing an additional 260,199 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in PulteGroup by 26.1% in the 2nd quarter. American Century Companies Inc. now owns 3,960,945 shares of the construction company’s stock worth $113,877,000 after purchasing an additional 818,727 shares in the last quarter. Institutional investors and hedge funds own 86.56% of the company’s stock.
Shares of PHM stock traded down $0.43 during trading hours on Friday, hitting $22.88. 468,288 shares of the company’s stock were exchanged, compared to its average volume of 4,713,025. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.36 and a beta of 1.04. PulteGroup, Inc. has a fifty-two week low of $23.18 and a fifty-two week high of $35.21.
PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, July 26th. The construction company reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.15. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.38 billion. PulteGroup had a return on equity of 19.95% and a net margin of 7.92%. The business’s quarterly revenue was up 27.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 EPS. Analysts anticipate that PulteGroup, Inc. will post 3.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 3rd. Stockholders of record on Tuesday, September 18th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Monday, September 17th. PulteGroup’s payout ratio is 16.44%.
Several equities research analysts have commented on PHM shares. ValuEngine lowered PulteGroup from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 27th. JPMorgan Chase & Co. lowered PulteGroup from an “overweight” rating to an “underweight” rating and lowered their price objective for the stock from $37.50 to $28.00 in a research report on Friday, September 21st. Zacks Investment Research upgraded PulteGroup from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective on the stock in a research report on Monday, July 30th. BTIG Research lowered PulteGroup from a “neutral” rating to a “sell” rating in a research report on Friday, July 27th. They noted that the move was a valuation call. Finally, Citigroup upped their price objective on PulteGroup from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Monday, July 23rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.50.
In other news, Director Brian P. Anderson sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $28.96, for a total transaction of $144,800.00. Following the completion of the transaction, the director now directly owns 101,235 shares of the company’s stock, valued at approximately $2,931,765.60. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.86% of the company’s stock.
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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