Deutsche Bank AG lowered its holdings in shares of PulteGroup, Inc. (NYSE:PHM – Get Rating) by 12.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 803,046 shares of the construction company’s stock after selling 113,626 shares during the period. Deutsche Bank AG’s holdings in PulteGroup were worth $31,825,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. PSI Advisors LLC lifted its stake in shares of PulteGroup by 18.5% in the second quarter. PSI Advisors LLC now owns 1,600 shares of the construction company’s stock worth $63,000 after buying an additional 250 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of PulteGroup by 17.6% in the first quarter. Advisors Asset Management Inc. now owns 1,749 shares of the construction company’s stock worth $73,000 after buying an additional 262 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of PulteGroup by 3.5% in the first quarter. Crossmark Global Holdings Inc. now owns 7,917 shares of the construction company’s stock worth $331,000 after buying an additional 270 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of PulteGroup by 3.2% in the second quarter. Meeder Asset Management Inc. now owns 9,432 shares of the construction company’s stock worth $374,000 after buying an additional 291 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its stake in shares of PulteGroup by 4.4% in the second quarter. Stratos Wealth Partners LTD. now owns 7,006 shares of the construction company’s stock worth $278,000 after buying an additional 294 shares in the last quarter. Institutional investors own 89.34% of the company’s stock.
Wall Street Analysts Forecast Growth
PHM has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on shares of PulteGroup from $43.50 to $65.00 in a research note on Tuesday. KeyCorp boosted their price objective on shares of PulteGroup from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, November 14th. BTIG Research decreased their price objective on shares of PulteGroup from $52.00 to $50.00 in a report on Wednesday, October 26th. Raymond James cut shares of PulteGroup from a “strong-buy” rating to a “market perform” rating in a report on Friday, October 21st. Finally, StockNews.com cut shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Tuesday, October 11th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.50.
PulteGroup Stock Up 2.2 %
PulteGroup (NYSE:PHM – Get Rating) last announced its earnings results on Tuesday, October 25th. The construction company reported $2.69 EPS for the quarter, missing analysts’ consensus estimates of $2.73 by ($0.04). PulteGroup had a net margin of 15.56% and a return on equity of 30.80%. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.04 billion. On average, research analysts expect that PulteGroup, Inc. will post 10.15 earnings per share for the current year.
PulteGroup Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Thursday, September 22nd were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, September 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.34%. PulteGroup’s payout ratio is currently 6.09%.
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, American West, and John Wieland Homes and Neighborhoods brand names.
- Get a free copy of the StockNews.com research report on PulteGroup (PHM)
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