PulteGroup, Inc. (PHM) Position Reduced by Raymond James Financial Services Advisors Inc.
Raymond James Financial Services Advisors Inc. cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 10.8% during the first quarter, Holdings Channel reports. The fund owned 15,382 shares of the construction company’s stock after selling 1,868 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in PulteGroup were worth $362,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. State Street Corp raised its stake in PulteGroup by 3.1% in the fourth quarter. State Street Corp now owns 15,724,471 shares of the construction company’s stock valued at $289,011,000 after buying an additional 471,526 shares during the last quarter. FMR LLC raised its stake in PulteGroup by 2.0% in the fourth quarter. FMR LLC now owns 10,951,981 shares of the construction company’s stock valued at $201,297,000 after buying an additional 217,846 shares during the last quarter. Greenhaven Associates Inc. raised its stake in PulteGroup by 0.6% in the first quarter. Greenhaven Associates Inc. now owns 5,750,265 shares of the construction company’s stock valued at $135,419,000 after buying an additional 32,000 shares during the last quarter. Norges Bank bought a new stake in PulteGroup during the fourth quarter valued at about $61,761,000. Finally, Putnam Investments LLC raised its stake in PulteGroup by 18.3% in the fourth quarter. Putnam Investments LLC now owns 3,349,908 shares of the construction company’s stock valued at $61,571,000 after buying an additional 519,262 shares during the last quarter. 87.63% of the stock is owned by institutional investors and hedge funds.
PulteGroup, Inc. (PHM) opened at 24.01 on Friday. The stock has a market capitalization of $7.58 billion, a P/E ratio of 13.26 and a beta of 1.21. The firm’s 50-day moving average price is $23.05 and its 200 day moving average price is $21.73. PulteGroup, Inc. has a 12-month low of $17.69 and a 12-month high of $24.73.
PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, April 25th. The construction company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. PulteGroup had a return on equity of 12.74% and a net margin of 7.77%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the firm earned $0.24 earnings per share. The firm’s revenue was up 13.7% compared to the same quarter last year. On average, equities analysts anticipate that PulteGroup, Inc. will post $2.24 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Thursday, June 8th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, June 6th. PulteGroup’s dividend payout ratio (DPR) is 19.78%.
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Several equities research analysts have recently issued reports on PHM shares. Wedbush reaffirmed an “underperform” rating and issued a $15.00 price objective on shares of PulteGroup in a research note on Tuesday, May 9th. Zacks Investment Research lowered PulteGroup from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Mizuho assumed coverage on PulteGroup in a research note on Tuesday, May 16th. They set a “neutral” rating and a $22.00 price target for the company. BidaskClub raised PulteGroup from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Barclays PLC reissued an “overweight” rating and set a $24.00 price target (up from $23.00) on shares of PulteGroup in a research note on Tuesday, March 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.30.
In other PulteGroup news, Director Richard J. Dugas, Jr. sold 162,000 shares of the company’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $24.08, for a total transaction of $3,900,960.00. Following the transaction, the director now directly owns 1,211,927 shares in the company, valued at $29,183,202.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian P. Anderson sold 14,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total value of $324,520.00. Following the transaction, the director now owns 108,744 shares in the company, valued at $2,520,685.92. The disclosure for this sale can be found here. Insiders have sold 191,000 shares of company stock worth $4,582,230 over the last 90 days. 0.71% of the stock is owned by 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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