First Trust Advisors LP Acquires 23,208 Shares of PulteGroup, Inc. (NYSE:PHM)
First Trust Advisors LP increased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 6.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 388,581 shares of the construction company’s stock after purchasing an additional 23,208 shares during the period. First Trust Advisors LP’s holdings in PulteGroup were worth $8,673,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of PHM. Marshall Wace LLP bought a new position in PulteGroup during the first quarter worth about $111,000. Huntington National Bank raised its position in shares of PulteGroup by 414.6% in the fourth quarter. Huntington National Bank now owns 2,192 shares of the construction company’s stock valued at $85,000 after buying an additional 1,766 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PulteGroup by 96.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 386,271 shares of the construction company’s stock valued at $14,987,000 after buying an additional 189,343 shares in the last quarter. Wealthfront Advisers LLC increased its stake in PulteGroup by 222.3% in the fourth quarter. Wealthfront Advisers LLC now owns 23,430 shares of the construction company’s stock valued at $909,000 after acquiring an additional 16,161 shares during the last quarter. Finally, NEXT Financial Group Inc increased its stake in PulteGroup by 35.9% in the fourth quarter. NEXT Financial Group Inc now owns 3,709 shares of the construction company’s stock valued at $144,000 after acquiring an additional 980 shares during the last quarter. Institutional investors and hedge funds own 90.15% of the company’s stock.
Several brokerages recently weighed in on PHM. Royal Bank of Canada boosted their price objective on shares of PulteGroup from $39.00 to $44.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 29th. KeyCorp upped their price objective on shares of PulteGroup from $42.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Barclays reiterated a “hold” rating and set a $38.00 price objective on shares of PulteGroup in a report on Tuesday, March 17th. Cfra upped their price objective on shares of PulteGroup from $18.00 to $29.00 and gave the company a “hold” rating in a report on Thursday, April 23rd. Finally, Susquehanna Bancshares upgraded shares of PulteGroup from a “neutral” rating to a “positive” rating and upped their price objective for the company from $50.00 to $51.00 in a report on Tuesday, March 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $38.40.
PulteGroup stock opened at $32.69 on Friday. The company has a market capitalization of $8.51 billion, a P/E ratio of 8.58, a P/E/G ratio of 4.96 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average price of $26.03 and a 200-day moving average price of $35.93. PulteGroup, Inc. has a twelve month low of $17.12 and a twelve month high of $47.37.
PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, April 23rd. The construction company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.32 billion. PulteGroup had a net margin of 10.02% and a return on equity of 19.53%. PulteGroup’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 EPS. Equities analysts expect that PulteGroup, Inc. will post 3.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.47%. The ex-dividend date is Thursday, June 11th. PulteGroup’s dividend payout ratio is presently 13.75%.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs 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 brand names.
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