Rampart Investment Management Company LLC trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 21.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,070 shares of the construction company’s stock after selling 1,611 shares during the quarter. Rampart Investment Management Company LLC’s holdings in PulteGroup were worth $192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Asset Management One Co. Ltd. boosted its stake in shares of PulteGroup by 5.9% during the 2nd quarter. Asset Management One Co. Ltd. now owns 156,279 shares of the construction company’s stock worth $4,941,000 after acquiring an additional 8,700 shares in the last quarter. BlackRock Inc. boosted its stake in shares of PulteGroup by 2.6% during the 2nd quarter. BlackRock Inc. now owns 21,336,247 shares of the construction company’s stock worth $674,650,000 after acquiring an additional 533,396 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of PulteGroup by 60.2% during the 2nd quarter. HighTower Advisors LLC now owns 52,527 shares of the construction company’s stock worth $1,659,000 after acquiring an additional 19,738 shares in the last quarter. AXA bought a new stake in shares of PulteGroup during the 2nd quarter worth $4,911,000. Finally, Pinebridge Investments L.P. lifted its holdings in shares of PulteGroup by 89.5% in the second quarter. Pinebridge Investments L.P. now owns 142,414 shares of the construction company’s stock valued at $4,503,000 after purchasing an additional 67,252 shares in the last quarter. 86.33% of the stock is owned by institutional investors and hedge funds.
Shares of PHM traded up $0.22 during mid-day trading on Friday, reaching $35.68. The company’s stock had a trading volume of 3,765,789 shares, compared to its average volume of 3,140,878. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.54. PulteGroup, Inc. has a 1 year low of $20.64 and a 1 year high of $35.75. The business has a fifty day moving average of $33.24 and a 200 day moving average of $31.36. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 1.38 and a beta of 0.67.
PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, July 23rd. The construction company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.04. PulteGroup had a return on equity of 20.68% and a net margin of 9.23%. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the company earned $0.89 earnings per share. PulteGroup’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, analysts predict that PulteGroup, Inc. will post 3.42 earnings per share for the current year.
The company 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 of this dividend is Tuesday, September 17th. This represents a $0.44 annualized dividend and a dividend yield of 1.23%. PulteGroup’s dividend payout ratio is 12.26%.
In related news, Director Brian P. Anderson sold 21,191 shares of the 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 completion of the sale, the director now directly owns 80,065 shares in the company, valued at $2,644,546.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James L. Ossowski sold 5,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $34.00, for a total value of $170,000.00. Following the sale, the insider now owns 25,750 shares of the company’s stock, valued at $875,500. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,957 shares of company stock valued at $1,475,705. 0.49% of the stock is owned by corporate insiders.
A number of analysts have recently issued reports on the company. SunTrust Banks assumed coverage on PulteGroup in a report on Monday, August 12th. They issued a “buy” rating and a $38.00 target price for the company. Royal Bank of Canada set a $33.00 target price on PulteGroup and gave the company a “hold” rating in a report on Monday, August 26th. Seaport Global Securities assumed coverage on PulteGroup in a report on Friday, August 23rd. They issued a “buy” rating and a $44.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded PulteGroup from a “neutral” rating to an “overweight” rating and increased their target price for the company from $30.00 to $37.50 in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $31.49.
PulteGroup Company Profile
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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