JPMorgan Chase & Co. Has $295.28 Million Stake in PulteGroup, Inc. $PHM

JPMorgan Chase & Co. reduced its stake in PulteGroup, Inc. (NYSE:PHM) by 19.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,799,862 shares of the construction company’s stock after selling 686,468 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.42% of PulteGroup worth $295,278,000 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 stock. Magnetar Financial LLC acquired a new stake in shares of PulteGroup in the second quarter worth $1,068,000. Swiss National Bank grew its stake in PulteGroup by 5.5% in the 2nd quarter. Swiss National Bank now owns 610,200 shares of the construction company’s stock valued at $64,352,000 after buying an additional 31,700 shares during the last quarter. Handelsbanken Fonder AB grew its stake in PulteGroup by 35.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 104,559 shares of the construction company’s stock valued at $11,027,000 after buying an additional 27,191 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in PulteGroup by 86,526.1% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 39,848 shares of the construction company’s stock worth $4,288,000 after acquiring an additional 39,802 shares during the period. Finally, Traub Capital Management LLC acquired a new position in PulteGroup during the 2nd quarter worth $809,000. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Down 0.9%

NYSE PHM opened at $119.21 on Tuesday. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $142.11. The stock has a market cap of $23.24 billion, a PE ratio of 9.18, a PEG ratio of 0.95 and a beta of 1.25. The firm has a 50-day simple moving average of $124.08 and a 200 day simple moving average of $117.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 0.81.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.31 billion. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.35 earnings per share. On average, research analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.26 per share. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, December 16th. PulteGroup’s dividend payout ratio (DPR) is presently 8.01%.

Analyst Ratings Changes

PHM has been the subject of a number of recent analyst reports. Wedbush restated an “outperform” rating and set a $150.00 price target on shares of PulteGroup in a report on Tuesday, October 21st. Wells Fargo & Company boosted their price objective on PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Bank of America decreased their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, October 10th. Citigroup raised their target price on PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, October 1st. Finally, Evercore ISI cut their price target on PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $133.67.

PulteGroup Company Profile

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.