Raymond James & Associates reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 11.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 330,511 shares of the construction company’s stock after selling 41,646 shares during the period. Raymond James & Associates owned 0.12% of PulteGroup worth $9,502,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PHM. Millennium Management LLC boosted its holdings in shares of PulteGroup by 2,993.9% during the 1st quarter. Millennium Management LLC now owns 6,059,291 shares of the construction company’s stock worth $178,688,000 after purchasing an additional 5,863,443 shares during the last quarter. LSV Asset Management boosted its holdings in shares of PulteGroup by 39.6% during the 2nd quarter. LSV Asset Management now owns 3,663,327 shares of the construction company’s stock worth $105,320,000 after purchasing an additional 1,039,931 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of PulteGroup by 26.1% during the 2nd quarter. American Century Companies Inc. now owns 3,960,945 shares of the construction company’s stock worth $113,877,000 after purchasing an additional 818,727 shares during the last quarter. Investec Asset Management LTD acquired a new position in shares of PulteGroup during the 2nd quarter worth approximately $20,944,000. Finally, NorthCoast Asset Management LLC boosted its holdings in shares of PulteGroup by 615.3% during the 1st quarter. NorthCoast Asset Management LLC now owns 720,988 shares of the construction company’s stock worth $21,262,000 after purchasing an additional 620,197 shares during the last quarter. Institutional investors and hedge funds own 86.52% of the company’s stock.

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut PulteGroup from an “overweight” rating to an “underweight” rating and lowered their target price for the stock from $37.50 to $28.00 in a report on Friday. Mizuho lowered shares of PulteGroup from a “buy” rating to a “neutral” rating and set a $31.00 price target on the stock. in a research report on Tuesday, August 7th. ValuEngine lowered shares of PulteGroup from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Citigroup raised shares of PulteGroup from a “sell” rating to a “neutral” rating in a research report on Tuesday, June 19th. Finally, Wedbush reaffirmed a “neutral” rating on shares of PulteGroup in a research report on Monday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $34.07.

PHM stock opened at $26.26 on Friday. The company has a market cap of $7.50 billion, a PE ratio of 9.01, a PEG ratio of 0.39 and a beta of 1.04. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.40 and a current ratio of 0.40. PulteGroup, Inc. has a one year low of $25.56 and a one year high of $35.21.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Thursday, July 26th. The construction company reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.15. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.38 billion. PulteGroup had a net margin of 7.92% and a return on equity of 19.95%. The business’s revenue for the quarter was up 27.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 EPS. analysts forecast that PulteGroup, Inc. will post 3.51 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Tuesday, September 18th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Monday, September 17th. PulteGroup’s payout ratio is 16.44%.

In other PulteGroup news, Director Brian P. Anderson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $28.96, for a total value of $144,800.00. Following the sale, the director now owns 101,235 shares of the company’s stock, valued at $2,931,765.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by insiders.

PulteGroup Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of 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 names.

Read More: Price to Earnings Ratio (PE), For Valuing Stocks

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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