PulteGroup, Inc. (PHM) is Wilsey Asset Management Inc.’s 5th Largest Position
Wilsey Asset Management Inc. boosted its stake in PulteGroup, Inc. (NYSE:PHM) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 467,006 shares of the construction company’s stock after purchasing an additional 9,594 shares during the period. PulteGroup makes up about 6.9% of Wilsey Asset Management Inc.’s investment portfolio, making the stock its 5th biggest holding. Wilsey Asset Management Inc. owned approximately 0.16% of PulteGroup worth $13,388,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC grew its stake in shares of PulteGroup by 2,993.9% during the first quarter. Millennium Management LLC now owns 6,059,291 shares of the construction company’s stock valued at $178,688,000 after acquiring an additional 5,863,443 shares in the last quarter. LSV Asset Management grew its stake in shares of PulteGroup by 39.6% during the second quarter. LSV Asset Management now owns 3,663,327 shares of the construction company’s stock valued at $105,320,000 after acquiring an additional 1,039,931 shares in the last quarter. Morgan Stanley grew its stake in shares of PulteGroup by 35.9% during the second quarter. Morgan Stanley now owns 3,812,643 shares of the construction company’s stock valued at $109,614,000 after acquiring an additional 1,007,452 shares in the last quarter. American Century Companies Inc. grew its stake in shares of PulteGroup by 26.1% during the second quarter. American Century Companies Inc. now owns 3,960,945 shares of the construction company’s stock valued at $113,877,000 after acquiring an additional 818,727 shares in the last quarter. Finally, Investec Asset Management LTD acquired a new stake in shares of PulteGroup during the second quarter valued at about $20,944,000. Hedge funds and other institutional investors own 86.52% of the company’s stock.
Shares of PHM stock traded up $0.11 during trading hours on Wednesday, hitting $27.05. 24,426 shares of the company were exchanged, compared to its average volume of 4,618,065. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.40 and a current ratio of 0.40. PulteGroup, Inc. has a one year low of $25.49 and a one year high of $35.21. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 0.40 and a beta of 1.04.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Tuesday, September 18th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, September 17th. This represents a $0.36 annualized dividend and a dividend yield of 1.33%. PulteGroup’s payout ratio is 16.44%.
In other news, Director Brian P. Anderson sold 5,000 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $28.96, for a total transaction of $144,800.00. Following the transaction, the director now owns 101,235 shares of the company’s stock, valued at $2,931,765.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.86% of the company’s stock.
PHM has been the subject of several recent analyst reports. ValuEngine upgraded PulteGroup from a “hold” rating to a “buy” rating in a research note on Tuesday, May 29th. Barclays set a $30.00 target price on PulteGroup and gave the company a “hold” rating in a research note on Friday, September 14th. JMP Securities restated a “hold” rating on shares of PulteGroup in a research note on Tuesday, July 31st. Susquehanna Bancshares set a $32.00 target price on PulteGroup and gave the company a “hold” rating in a research note on Friday, July 27th. Finally, Citigroup raised their target price on PulteGroup from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Monday, July 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.93.
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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