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.

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

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.

About PulteGroup

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.

Further Reading: Fundamental Analysis – How It Helps Investors

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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