Nomura Holdings Inc. reduced its holdings in PulteGroup, Inc. (NYSE:PHM) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 520,116 shares of the construction company’s stock after selling 10,484 shares during the period. Nomura Holdings Inc. owned approximately 0.19% of PulteGroup worth $16,686,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in PHM. Man Group plc lifted its holdings in PulteGroup by 502.7% in the second quarter. Man Group plc now owns 2,098,548 shares of the construction company’s stock valued at $66,357,000 after buying an additional 1,750,338 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in PulteGroup by 232.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,749,247 shares of the construction company’s stock valued at $55,314,000 after buying an additional 1,223,286 shares during the period. Westfield Capital Management Co. LP acquired a new position in PulteGroup in the first quarter valued at approximately $29,290,000. AQR Capital Management LLC lifted its holdings in PulteGroup by 13.4% in the second quarter. AQR Capital Management LLC now owns 8,405,551 shares of the construction company’s stock valued at $265,783,000 after buying an additional 990,999 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in PulteGroup by 2,471.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 958,943 shares of the construction company’s stock valued at $30,322,000 after buying an additional 921,658 shares during the period. Institutional investors and hedge funds own 86.33% of the company’s stock.
In related news, insider James L. Ossowski sold 5,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $34.00, for a total transaction of $170,000.00. Following the sale, the insider now directly owns 25,750 shares in the company, valued at $875,500. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian P. Anderson sold 21,191 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $33.03, for a total transaction of $699,938.73. Following the sale, the director now owns 80,065 shares in the company, valued at $2,644,546.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,957 shares of company stock worth $1,475,705. 0.49% of the stock is currently owned by company insiders.
PHM traded up $0.20 during mid-day trading on Friday, hitting $35.66. The stock had a trading volume of 1,534,317 shares, compared to its average volume of 2,997,847. The stock’s fifty day simple moving average is $33.16 and its 200-day simple moving average is $31.32. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market capitalization of $9.71 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 1.40 and a beta of 0.67. PulteGroup, Inc. has a 1-year low of $20.64 and a 1-year high of $35.62.
PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, July 23rd. The construction company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.04. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.47 billion. PulteGroup had a net margin of 9.23% and a return on equity of 20.68%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the business posted $0.89 earnings per share. As a group, research analysts expect that PulteGroup, Inc. will post 3.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Wednesday, September 18th will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.23%. PulteGroup’s payout ratio is 12.26%.
Several equities analysts recently weighed in on PHM shares. Royal Bank of Canada set a $33.00 price objective on shares of PulteGroup and gave the company a “hold” rating in a report on Monday, August 26th. SunTrust Banks began coverage on shares of PulteGroup in a report on Monday, August 12th. They issued a “buy” rating and a $38.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of PulteGroup from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $30.00 to $37.50 in a report on Wednesday, September 11th. Finally, Seaport Global Securities began coverage on shares of PulteGroup in a report on Friday, August 23rd. They issued a “buy” rating and a $44.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. PulteGroup has an average rating of “Hold” and a consensus price target of $31.49.
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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