CIBC World Markets Inc. Boosts Position in PulteGroup, Inc. (PHM)
CIBC World Markets Inc. increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 104.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,427 shares of the construction company’s stock after acquiring an additional 53,797 shares during the period. CIBC World Markets Inc.’s holdings in PulteGroup were worth $2,586,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hartwell J M Limited Partnership lifted its stake in PulteGroup by 4.3% during the 2nd quarter. Hartwell J M Limited Partnership now owns 22,850 shares of the construction company’s stock worth $561,000 after acquiring an additional 950 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in PulteGroup during the 2nd quarter worth about $2,631,000. Commerce Bank acquired a new position in PulteGroup during the 1st quarter worth about $207,000. Bank of Montreal Can lifted its stake in PulteGroup by 129.1% during the 2nd quarter. Bank of Montreal Can now owns 669,271 shares of the construction company’s stock worth $16,417,000 after acquiring an additional 377,181 shares in the last quarter. Finally, Mirador Capital Partners LP lifted its stake in PulteGroup by 3.7% during the 2nd quarter. Mirador Capital Partners LP now owns 48,655 shares of the construction company’s stock worth $1,246,000 after acquiring an additional 1,728 shares in the last quarter. 85.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PulteGroup, Inc. (NYSE:PHM) opened at 26.17 on Tuesday. The firm’s 50-day moving average price is $25.20 and its 200 day moving average price is $23.88. PulteGroup, Inc. has a one year low of $17.69 and a one year high of $26.25. The stock has a market cap of $7.90 billion, a P/E ratio of 14.48 and a beta of 1.08.
PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.03 billion. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share. Equities research analysts expect that PulteGroup, Inc. will post $2.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 19th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Monday, September 18th. PulteGroup’s dividend payout ratio is presently 20.00%.
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Several equities analysts recently issued reports on PHM shares. Mizuho started coverage on PulteGroup in a research note on Tuesday, May 16th. They set a “neutral” rating and a $22.00 target price on the stock. BidaskClub raised PulteGroup from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Credit Suisse Group started coverage on PulteGroup in a research note on Thursday, June 22nd. They set an “outperform” rating and a $27.00 target price on the stock. Zacks Investment Research lowered PulteGroup from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Bank of America Corporation reissued a “buy” rating and set a $30.00 target price (up previously from $29.00) on shares of PulteGroup in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.08.
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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