PulteGroup, Inc. (PHM) Holdings Reduced by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC reduced its position in PulteGroup, Inc. (NYSE:PHM) by 7.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,997,668 shares of the construction company’s stock after selling 228,613 shares during the period. TIAA CREF Investment Management LLC owned about 0.99% of PulteGroup worth $73,533,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of PulteGroup by 3,521.7% in the 1st quarter. BlackRock Inc. now owns 22,891,339 shares of the construction company’s stock valued at $539,092,000 after purchasing an additional 22,259,277 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of PulteGroup in the 1st quarter valued at $92,466,000. Fiera Capital Corp acquired a new position in shares of PulteGroup in the 2nd quarter valued at $45,333,000. LSV Asset Management boosted its holdings in shares of PulteGroup by 150.9% in the 2nd quarter. LSV Asset Management now owns 2,029,335 shares of the construction company’s stock valued at $49,779,000 after purchasing an additional 1,220,579 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of PulteGroup in the 2nd quarter valued at $29,436,000. 85.71% of the stock is owned by hedge funds and other institutional investors.
PulteGroup, Inc. (NYSE PHM) opened at 26.29 on Monday. The company’s 50 day moving average is $25.45 and its 200 day moving average is $23.99. PulteGroup, Inc. has a 12-month low of $17.69 and a 12-month high of $26.64. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 14.55 and a beta of 1.08.
PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. PulteGroup had a net margin of 7.35% and a return on equity of 13.43%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $0.37 EPS. PulteGroup’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that PulteGroup, Inc. will post $2.09 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 19th will be paid a dividend of $0.09 per share. The ex-dividend date is Monday, September 18th. This represents a $0.36 annualized dividend and a dividend yield of 1.37%. PulteGroup’s dividend payout ratio (DPR) is 20.00%.
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PHM has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Friday, July 28th. UBS AG lowered shares of PulteGroup from a “positive” rating to a “neutral” rating in a report on Wednesday, July 26th. Susquehanna Bancshares Inc lowered shares of PulteGroup from a “positive” rating to a “neutral” rating and set a $26.00 price target on the stock. in a report on Wednesday, July 26th. Credit Suisse Group initiated coverage on shares of PulteGroup in a report on Thursday, June 22nd. They issued an “outperform” rating and a $27.00 price target on the stock. Finally, BidaskClub lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $24.92.
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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