Glen Harbor Capital Management LLC lifted its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 83.7% in the 2nd quarter, Holdings Channel reports. The firm owned 579,432 shares of the construction company’s stock after buying an additional 264,012 shares during the quarter. Glen Harbor Capital Management LLC’s holdings in PulteGroup were worth $16,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in PHM. Leavell Investment Management Inc. acquired a new position in PulteGroup during the second quarter worth $361,000. Seven Eight Capital LP acquired a new position in PulteGroup during the first quarter worth $5,326,000. One Capital Management LLC grew its holdings in PulteGroup by 8.2% during the second quarter. One Capital Management LLC now owns 90,397 shares of the construction company’s stock worth $2,599,000 after acquiring an additional 6,870 shares during the period. Swiss National Bank grew its holdings in PulteGroup by 5.7% during the second quarter. Swiss National Bank now owns 896,900 shares of the construction company’s stock worth $25,786,000 after acquiring an additional 48,100 shares during the period. Finally, Aperio Group LLC grew its holdings in PulteGroup by 5.6% during the second quarter. Aperio Group LLC now owns 228,358 shares of the construction company’s stock worth $6,565,000 after acquiring an additional 12,184 shares during the period. Institutional investors and hedge funds own 87.14% of the company’s stock.
In related news, Director Brian P. Anderson sold 5,000 shares of the stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $28.96, for a total transaction of $144,800.00. Following the transaction, the director now directly owns 101,235 shares in the company, valued at $2,931,765.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.86% of the company’s stock.
A number of research analysts recently weighed in on PHM shares. ValuEngine lowered PulteGroup from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Citigroup raised PulteGroup from a “sell” rating to a “neutral” rating in a report on Tuesday, June 19th. Wedbush reaffirmed a “neutral” rating on shares of PulteGroup in a report on Monday, July 16th. BTIG Research lowered PulteGroup from a “neutral” rating to a “sell” rating in a report on Friday, July 27th. They noted that the move was a valuation call. Finally, Susquehanna Bancshares set a $32.00 price objective on PulteGroup and gave the stock a “hold” rating in a report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. PulteGroup currently has a consensus rating of “Hold” and a consensus price target of $35.14.
Shares of NYSE:PHM opened at $28.52 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.66. PulteGroup, Inc. has a 52-week low of $25.35 and a 52-week high of $35.21. The firm has a market capitalization of $7.94 billion, a PE ratio of 13.02, a P/E/G ratio of 0.41 and a beta of 1.04.
PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, July 26th. The construction company reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.15. PulteGroup had a return on equity of 19.95% and a net margin of 7.92%. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the business earned $0.47 earnings per share. The business’s revenue was up 27.1% on a year-over-year basis. equities analysts anticipate that PulteGroup, Inc. will post 3.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Tuesday, September 18th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.26%. PulteGroup’s dividend payout ratio (DPR) is presently 16.44%.
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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