Ameritas Advisory Services LLC lifted its holdings in shares of PulteGroup, Inc. (NYSE:PHM – Free Report) by 27.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,802 shares of the construction company’s stock after buying an additional 2,082 shares during the period. Ameritas Advisory Services LLC’s holdings in PulteGroup were worth $1,034,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the business. Cooper Financial Group boosted its stake in shares of PulteGroup by 1.4% during the 2nd quarter. Cooper Financial Group now owns 6,697 shares of the construction company’s stock worth $706,000 after buying an additional 92 shares during the last quarter. Tocqueville Asset Management L.P. lifted its stake in PulteGroup by 2.0% in the 1st quarter. Tocqueville Asset Management L.P. now owns 5,062 shares of the construction company’s stock valued at $520,000 after purchasing an additional 100 shares during the last quarter. Ballentine Partners LLC lifted its stake in PulteGroup by 3.2% in the 2nd quarter. Ballentine Partners LLC now owns 3,630 shares of the construction company’s stock valued at $383,000 after purchasing an additional 112 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in PulteGroup by 15.9% in the 1st quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company’s stock valued at $93,000 after purchasing an additional 125 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in PulteGroup by 1.9% in the 1st quarter. Signaturefd LLC now owns 6,644 shares of the construction company’s stock valued at $683,000 after purchasing an additional 127 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages recently issued reports on PHM. Royal Bank Of Canada raised their target price on shares of PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of PulteGroup in a research note on Saturday, September 27th. JPMorgan Chase & Co. raised their target price on shares of PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Finally, Wedbush restated an “outperform” rating and set a $150.00 price objective on shares of PulteGroup in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.31.
PulteGroup Trading Up 2.1%
Shares of PHM stock opened at $137.70 on Friday. The firm has a 50 day moving average price of $129.39 and a two-hundred day moving average price of $112.23. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $27.17 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.40 and a beta of 1.29. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47.
PulteGroup (NYSE:PHM – Get Free Report) last announced its earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping the consensus estimate of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same period last year, the firm earned $3.83 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.
PulteGroup Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 0.6%. PulteGroup’s dividend payout ratio (DPR) is currently 6.58%.
About PulteGroup
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, John Wieland Homes and Neighborhoods, and American West brand names.
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