Regal Investment Advisors LLC cut its holdings in PulteGroup, Inc. (NYSE:PHM – Get Rating) by 16.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,774 shares of the construction company’s stock after selling 3,474 shares during the period. Regal Investment Advisors LLC’s holdings in PulteGroup were worth $1,016,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in PulteGroup by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 6,429,564 shares of the construction company’s stock worth $295,336,000 after purchasing an additional 50,903 shares in the last quarter. Putnam Investments LLC lifted its stake in PulteGroup by 0.9% during the third quarter. Putnam Investments LLC now owns 6,308,416 shares of the construction company’s stock worth $289,682,000 after purchasing an additional 55,564 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of PulteGroup by 0.3% during the third quarter. Alliancebernstein L.P. now owns 5,450,380 shares of the construction company’s stock worth $250,281,000 after acquiring an additional 14,304 shares during the period. Bank of New York Mellon Corp increased its holdings in PulteGroup by 44.7% in the third quarter. Bank of New York Mellon Corp now owns 3,771,204 shares of the construction company’s stock valued at $173,175,000 after buying an additional 1,165,839 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in PulteGroup by 20.9% in the fourth quarter. First Trust Advisors LP now owns 3,748,842 shares of the construction company’s stock valued at $214,284,000 after buying an additional 648,373 shares during the last quarter. Institutional investors own 90.32% of the company’s stock.
Several equities analysts have issued reports on the company. Barclays lowered PulteGroup from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $72.00 to $49.00 in a report on Thursday, March 31st. Bank of America upgraded shares of PulteGroup from an “underperform” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Monday, February 28th. Credit Suisse Group began coverage on shares of PulteGroup in a research note on Tuesday, April 5th. They set an “outperform” rating and a $52.00 target price for the company. The Goldman Sachs Group reduced their price objective on shares of PulteGroup from $63.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday, April 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PulteGroup from $57.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, April 13th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $56.67.
Shares of PHM traded up $0.37 during mid-day trading on Friday, reaching $42.53. 5,990,916 shares of the company’s stock were exchanged, compared to its average volume of 2,716,887. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $43.70 and a two-hundred day simple moving average of $49.06. PulteGroup, Inc. has a 52-week low of $39.61 and a 52-week high of $59.32. The company has a market cap of $10.11 billion, a price-to-earnings ratio of 5.21, a PEG ratio of 0.75 and a beta of 1.33.
PulteGroup (NYSE:PHM – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The construction company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. PulteGroup had a net margin of 14.58% and a return on equity of 27.91%. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period last year, the company posted $1.28 EPS. The company’s revenue was up 16.8% on a year-over-year basis. As a group, equities research analysts predict that PulteGroup, Inc. will post 10.72 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Friday, June 10th will be paid a $0.15 dividend. The ex-dividend date is Thursday, June 9th. This represents a $0.60 annualized dividend and a yield of 1.41%. PulteGroup’s payout ratio is currently 7.35%.
PulteGroup announced that its board has approved a stock buyback program on Tuesday, February 1st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
About PulteGroup (Get Rating)
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, American West, and John Wieland Homes and Neighborhoods brand names.
- Get a free copy of the StockNews.com research report on PulteGroup (PHM)
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