Prudential Financial Inc. Has $26,126,000 Stake in PulteGroup Inc. (PHM)
Prudential Financial Inc. boosted its stake in shares of PulteGroup Inc. (NYSE:PHM) by 21.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,340,521 shares of the company’s stock after buying an additional 237,670 shares during the period. Prudential Financial Inc. owned about 0.39% of PulteGroup worth $26,126,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of PulteGroup during the fourth quarter valued at about $50,019,000. Chevy Chase Trust Holdings Inc. raised its position in shares of PulteGroup by 4.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 268,951 shares of the company’s stock valued at $5,032,000 after buying an additional 11,864 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of PulteGroup by 13.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 72,797 shares of the company’s stock valued at $1,362,000 after buying an additional 8,550 shares during the period. Exxonmobil Investment Management Inc. TX raised its position in shares of PulteGroup by 8.6% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 77,358 shares of the company’s stock valued at $1,447,000 after buying an additional 6,145 shares during the period. Finally, OLD National Bancorp IN purchased a new position in shares of PulteGroup during the first quarter valued at about $381,000. 89.08% of the stock is owned by institutional investors.
PulteGroup Inc. (NYSE:PHM) traded down 0.05% on Friday, reaching $19.85. 591,775 shares of the company’s stock traded hands. The company’s 50 day moving average is $20.84 and its 200-day moving average is $19.44. PulteGroup Inc. has a 52-week low of $14.61 and a 52-week high of $22.40. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 13.07 and a beta of 1.59.
PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The firm earned $1.80 billion during the quarter, compared to analysts’ expectations of $1.66 billion. PulteGroup had a net margin of 7.89% and a return on equity of 11.24%. The business’s revenue was up 40.6% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share. Equities analysts expect that PulteGroup Inc. will post $1.61 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 20th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Friday, September 16th. PulteGroup’s dividend payout ratio is currently 23.68%.
PHM has been the subject of several research analyst reports. Deutsche Bank AG reissued a “hold” rating on shares of PulteGroup in a report on Wednesday, June 8th. MKM Partners reissued a “hold” rating on shares of PulteGroup in a report on Wednesday, June 8th. Credit Suisse Group AG reissued a “sell” rating on shares of PulteGroup in a report on Tuesday, June 28th. TheStreet raised shares of PulteGroup from a “hold” rating to a “buy” rating in a report on Tuesday, June 28th. Finally, FBR & Co boosted their price target on shares of PulteGroup from $20.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, July 22nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of C$20.13.
In related news, EVP Steven M. Cook sold 20,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of C$22.06, for a total transaction of C$441,200.00. Following the transaction, the executive vice president now directly owns 261,626 shares in the company, valued at C$5,771,469.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard J. Dugas, Jr. sold 243,115 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of C$21.96, for a total transaction of C$5,338,805.40. Following the transaction, the chief executive officer now owns 1,441,759 shares in the company, valued at C$31,661,027.64. The disclosure for this sale can be found here. Insiders own 1.83% of the company’s stock.
PulteGroup Company Profile
PulteGroup, Inc is a homebuilder operating in the United States. The Company, through Pulte Mortgage LLC, is engaged in mortgage banking operations and title operations. The Company’s subsidiaries are also engaged in the homebuilding business. The Company operates through Homebuilding and Financial Services segments.
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