Oakbrook Investments LLC Acquires Shares of 26,050 PulteGroup, Inc. (PHM)
Oakbrook Investments LLC acquired a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 26,050 shares of the construction company’s stock, valued at approximately $639,000.
Other institutional investors have also recently made changes to their positions in the company. Hartwell J M Limited Partnership purchased a new position in shares of PulteGroup during the first quarter worth $516,000. Commerce Bank purchased a new position in shares of PulteGroup during the first quarter worth $207,000. First Trust Advisors LP boosted its position in shares of PulteGroup by 30.0% in the first quarter. First Trust Advisors LP now owns 1,264,856 shares of the construction company’s stock worth $29,787,000 after buying an additional 291,555 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of PulteGroup by 5.5% in the first quarter. LS Investment Advisors LLC now owns 15,663 shares of the construction company’s stock worth $369,000 after buying an additional 819 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of PulteGroup during the first quarter worth $92,466,000. 87.85% of the stock is currently owned by institutional investors.
Shares of PulteGroup, Inc. (NYSE PHM) opened at 24.17 on Tuesday. PulteGroup, Inc. has a 52-week low of $17.69 and a 52-week high of $25.20. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 13.35 and a beta of 1.14. The company’s 50 day moving average price is $24.19 and its 200 day moving average price is $22.75.
PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.03 billion. PulteGroup had a return on equity of 12.74% and a net margin of 7.77%. PulteGroup’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the business posted $0.37 EPS. On average, analysts predict that PulteGroup, Inc. will post $2.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Thursday, June 8th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, June 6th. This represents a $0.36 annualized dividend and a yield of 1.47%. PulteGroup’s payout ratio is currently 19.78%.
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A number of equities analysts recently weighed in on PHM shares. Zacks Investment Research raised PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, July 4th. Wedbush reaffirmed an “underperform” rating and issued a $15.00 price target on shares of PulteGroup in a research note on Tuesday, April 25th. Mizuho initiated coverage on PulteGroup in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $22.00 price target on the stock. BidaskClub cut PulteGroup from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 13th. Finally, Barclays PLC cut PulteGroup from an “overweight” rating to an “equal weight” rating and set a $24.00 price target on the stock. in a research note on Tuesday, July 11th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $24.73.
In other PulteGroup news, Director Brian P. Anderson sold 14,000 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total transaction of $324,520.00. Following the transaction, the director now directly owns 108,744 shares in the company, valued at approximately $2,520,685.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.71% of the company’s stock.
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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