MARSHALL WACE ASIA Ltd bought a new position in PulteGroup, Inc. (NYSE:PHM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 163,616 shares of the construction company’s stock, valued at approximately $4,575,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PHM. Westfield Capital Management Co. LP acquired a new stake in shares of PulteGroup in the 1st quarter worth approximately $29,290,000. SRB Corp lifted its stake in shares of PulteGroup by 17.1% in the 1st quarter. SRB Corp now owns 26,311 shares of the construction company’s stock worth $736,000 after acquiring an additional 3,840 shares during the period. Spears Abacus Advisors LLC acquired a new stake in shares of PulteGroup in the 1st quarter worth approximately $206,000. Andra AP fonden acquired a new stake in shares of PulteGroup in the 1st quarter worth approximately $8,673,000. Finally, KC Investment Advisors LLC lifted its stake in shares of PulteGroup by 2.8% in the 1st quarter. KC Investment Advisors LLC now owns 15,025 shares of the construction company’s stock worth $420,000 after acquiring an additional 410 shares during the period. 84.76% of the stock is owned by institutional investors.
In other news, insider Michelle H. Hairston sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $31.25, for a total transaction of $312,500.00. Following the sale, the insider now owns 62,933 shares in the company, valued at $1,966,656.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Oshaughnessy sold 95,738 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $31.42, for a total transaction of $3,008,087.96. Following the sale, the chief financial officer now owns 334,213 shares in the company, valued at approximately $10,500,972.46. The disclosure for this sale can be found here. Insiders have sold 157,846 shares of company stock worth $4,959,732 in the last 90 days. 0.49% of the stock is owned by company insiders.
Shares of NYSE PHM traded up $0.38 during midday trading on Friday, reaching $32.89. The company’s stock had a trading volume of 744,962 shares, compared to its average volume of 2,951,100. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.72 and a quick ratio of 0.72. PulteGroup, Inc. has a one year low of $20.64 and a one year high of $33.09. The company has a market capitalization of $8.91 billion, a P/E ratio of 9.16, a PEG ratio of 1.40 and a beta of 0.79.
PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, April 23rd. The construction company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.12. PulteGroup had a net margin of 9.97% and a return on equity of 21.65%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the firm earned $0.59 EPS. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, analysts anticipate that PulteGroup, Inc. will post 3.4 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Friday, June 14th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.34%. PulteGroup’s payout ratio is currently 12.26%.
A number of analysts have recently weighed in on PHM shares. Raymond James lowered shares of PulteGroup from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 14th. Credit Suisse Group set a $31.00 target price on shares of PulteGroup and gave the stock a “buy” rating in a report on Friday, February 15th. ValuEngine upgraded shares of PulteGroup from a “sell” rating to a “hold” rating in a report on Saturday, February 23rd. Barclays set a $28.00 target price on shares of PulteGroup and gave the stock a “hold” rating in a report on Thursday, March 28th. Finally, Zacks Investment Research upgraded shares of PulteGroup from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $28.53.
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PulteGroup Company Profile
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs 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 brand names.
Further Reading: Understanding Average Daily Trade Volume
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