Comerica Bank Has $1,490,000 Position in PulteGroup, Inc. (PHM)
Comerica Bank decreased its stake in PulteGroup, Inc. (NYSE:PHM) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,625 shares of the company’s stock after selling 214 shares during the period. Comerica Bank’s holdings in PulteGroup were worth $1,490,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Orinda Asset Management LLC purchased a new stake in PulteGroup during the third quarter valued at about $153,000. Advisory Services Network LLC raised its position in shares of PulteGroup by 5.4% in the third quarter. Advisory Services Network LLC now owns 9,811 shares of the company’s stock worth $197,000 after buying an additional 501 shares in the last quarter. Two Sigma Securities LLC bought a new position in shares of PulteGroup during the third quarter worth $224,000. MCF Advisors LLC raised its position in shares of PulteGroup by 0.5% in the third quarter. MCF Advisors LLC now owns 11,858 shares of the company’s stock worth $238,000 after buying an additional 55 shares in the last quarter. Finally, Raymond James Trust N.A. raised its position in shares of PulteGroup by 1.3% in the third quarter. Raymond James Trust N.A. now owns 12,299 shares of the company’s stock worth $246,000 after buying an additional 160 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.
PulteGroup, Inc. (NYSE:PHM) opened at 23.74 on Tuesday. The firm has a 50-day moving average of $22.09 and a 200-day moving average of $20.01. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 13.58 and a beta of 1.24. PulteGroup, Inc. has a 1-year low of $16.60 and a 1-year high of $24.05.
PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, January 26th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.08. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.32 billion. PulteGroup had a net margin of 7.86% and a return on equity of 12.29%. PulteGroup’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 earnings per share. Equities research analysts anticipate that PulteGroup, Inc. will post $2.23 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Friday, March 10th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $0.36 dividend on an annualized basis and a yield of 1.52%. PulteGroup’s dividend payout ratio is presently 20.22%.
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PHM has been the topic of a number of research reports. Zacks Investment Research lowered shares of PulteGroup from a “hold” rating to a “sell” rating in a research note on Wednesday, December 21st. Barclays PLC initiated coverage on shares of PulteGroup in a research note on Thursday, January 5th. They issued an “overweight” rating and a $21.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $24.00 price target (up from $22.00) on shares of PulteGroup in a research note on Friday, January 27th. Bank of America Corp raised shares of PulteGroup from an “underperform” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, January 27th. Finally, BTIG Research initiated coverage on shares of PulteGroup in a research note on Tuesday, February 7th. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $22.90.
In other PulteGroup news, Director Richard J. Dugas, Jr. sold 3,000 shares of PulteGroup stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $24.00, for a total value of $72,000.00. Following the transaction, the director now directly owns 1,052,927 shares in the company, valued at $25,270,248. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James R. Ellinghausen sold 47,744 shares of PulteGroup stock in a transaction on Monday, January 30th. The shares were sold at an average price of $21.00, for a total transaction of $1,002,624.00. Following the completion of the transaction, the insider now owns 435,187 shares in the company, valued at $9,138,927. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 493,790 shares of company stock worth $10,357,053. 1.83% of the stock is currently owned by company insiders.
PulteGroup Company Profile
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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