Verition Fund Management LLC Takes Position in PulteGroup, Inc. (PHM)
Verition Fund Management LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 31,579 shares of the construction company’s stock, valued at approximately $908,000.
A number of other large investors have also bought and sold shares of PHM. Flagship Harbor Advisors LLC acquired a new stake in PulteGroup during the 2nd quarter worth approximately $112,000. Raymond James Trust N.A. acquired a new position in shares of PulteGroup in the 2nd quarter worth approximately $232,000. Segall Bryant & Hamill LLC acquired a new position in shares of PulteGroup in the 2nd quarter worth approximately $232,000. First Republic Investment Management Inc. lifted its position in shares of PulteGroup by 30.1% in the 1st quarter. First Republic Investment Management Inc. now owns 8,027 shares of the construction company’s stock worth $237,000 after purchasing an additional 1,859 shares during the period. Finally, Mariner LLC lifted its position in shares of PulteGroup by 26.3% in the 1st quarter. Mariner LLC now owns 9,173 shares of the construction company’s stock worth $270,000 after purchasing an additional 1,911 shares during the period. Institutional investors and hedge funds own 86.52% of the company’s stock.
PulteGroup stock opened at $26.26 on Monday. 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 12-month low of $25.56 and a 12-month high of $35.21. The firm has a market cap of $7.46 billion, a P/E ratio of 11.99, a P/E/G ratio of 0.39 and a beta of 1.04.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Tuesday, September 18th will be given a dividend of $0.09 per share. The ex-dividend date is Monday, September 17th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.37%. PulteGroup’s payout ratio is presently 16.44%.
In related news, Director Brian P. Anderson sold 5,000 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $28.96, for a total transaction of $144,800.00. Following the transaction, the director now owns 101,235 shares in the company, valued at approximately $2,931,765.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.86% of the stock is owned by insiders.
A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of PulteGroup from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from $37.50 to $28.00 in a research report on Friday. Barclays set a $30.00 price target on shares of PulteGroup and gave the stock a “hold” rating in a research report on Friday, September 14th. Mizuho downgraded 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 downgraded shares of PulteGroup from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Finally, JMP Securities restated a “hold” rating on shares of PulteGroup in a research report on Tuesday, July 31st. 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 issued a strong buy rating to the stock. PulteGroup currently has an average rating of “Hold” and an average price target of $34.07.
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.
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