Norinchukin Bank The Cuts Position in PulteGroup, Inc. (PHM)
Norinchukin Bank The cut its stake in PulteGroup, Inc. (NYSE:PHM) by 15.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,601 shares of the construction company’s stock after selling 15,869 shares during the period. Norinchukin Bank The’s holdings in PulteGroup were worth $2,198,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in PHM. Northwestern Mutual Wealth Management Co. grew its position in PulteGroup by 12.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,380 shares of the construction company’s stock worth $150,000 after acquiring an additional 702 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in PulteGroup in the first quarter worth $155,000. Acadian Asset Management LLC purchased a new position in PulteGroup in the first quarter worth $197,000. Commerce Bank purchased a new position in PulteGroup in the first quarter worth $207,000. Finally, Chartist Inc. CA purchased a new position in PulteGroup in the first quarter worth $208,000. Institutional investors own 85.80% of the company’s stock.
Several research analysts recently issued reports on PHM shares. FBR & Co reiterated an “outperform” rating and issued a $28.00 target price (up from $26.00) on shares of PulteGroup in a research report on Wednesday, July 26th. Zacks Investment Research upgraded shares of PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Tuesday, July 4th. MKM Partners reiterated a “neutral” rating on shares of PulteGroup in a research report on Tuesday, September 5th. Wedbush reiterated a “neutral” rating and issued a $22.00 target price on shares of PulteGroup in a research report on Tuesday, July 25th. Finally, Susquehanna Bancshares Inc lowered shares of PulteGroup from a “positive” rating to a “neutral” rating and set a $26.00 target price for the company. in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $25.08.
Shares of PulteGroup, Inc. (NYSE PHM) traded down 0.46% during trading on Friday, hitting $26.25. 364,839 shares of the stock traded hands. The stock has a market cap of $7.92 billion, a PE ratio of 14.53 and a beta of 1.08. The firm’s 50-day moving average price is $25.39 and its 200-day moving average price is $23.96. PulteGroup, Inc. has a 12 month low of $17.69 and a 12 month high of $26.64.
PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. PulteGroup had a net margin of 7.35% and a return on equity of 13.43%. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $0.37 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts anticipate that PulteGroup, Inc. will post $2.09 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Tuesday, September 19th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.36%. PulteGroup’s dividend payout ratio is presently 20.00%.
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PulteGroup Company Profile
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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