Commonwealth Bank of Australia Increases Stake in PulteGroup, Inc. (PHM)
Commonwealth Bank of Australia increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 493.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,667 shares of the construction company’s stock after buying an additional 25,500 shares during the period. Commonwealth Bank of Australia’s holdings in PulteGroup were worth $751,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Private Advisor Group LLC boosted its position in PulteGroup by 68.0% during the second quarter. Private Advisor Group LLC now owns 15,104 shares of the construction company’s stock valued at $379,000 after purchasing an additional 6,112 shares in the last quarter. IFM Investors Pty Ltd bought a new stake in PulteGroup during the second quarter valued at about $256,000. LSV Asset Management boosted its position in PulteGroup by 150.9% during the second quarter. LSV Asset Management now owns 2,029,335 shares of the construction company’s stock valued at $49,779,000 after purchasing an additional 1,220,579 shares in the last quarter. Atlantic Trust Group LLC bought a new stake in PulteGroup during the second quarter valued at about $541,000. Finally, Synovus Financial Corp boosted its position in PulteGroup by 18.0% during the second quarter. Synovus Financial Corp now owns 38,747 shares of the construction company’s stock valued at $958,000 after purchasing an additional 5,921 shares in the last quarter. Hedge funds and other institutional investors own 85.80% of the company’s stock.
A number of equities research analysts recently weighed in on PHM shares. FBR & Co reaffirmed an “outperform” rating and set a $28.00 price objective (up previously from $26.00) on shares of PulteGroup in a research report on Wednesday, July 26th. Zacks Investment Research raised PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, July 4th. MKM Partners reaffirmed a “neutral” rating on shares of PulteGroup in a research report on Tuesday, September 5th. Wedbush reaffirmed a “neutral” rating and set a $22.00 price objective on shares of PulteGroup in a research report on Tuesday, July 25th. Finally, Susquehanna Bancshares Inc downgraded PulteGroup from a “positive” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. PulteGroup presently has a consensus rating of “Hold” and a consensus price target of $24.92.
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Shares of PulteGroup, Inc. (PHM) opened at 26.29 on Friday. The firm has a 50-day moving average price of $25.45 and a 200 day moving average price of $23.99. The firm has a market cap of $7.93 billion, a P/E ratio of 14.55 and a beta of 1.08. PulteGroup, Inc. has a one year low of $17.69 and a one year high of $26.64.
PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, July 25th. The construction company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the business earned $0.37 EPS. PulteGroup’s revenue was up 12.3% on a year-over-year basis. On average, analysts forecast that PulteGroup, Inc. will post $2.09 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 19th will be issued a $0.09 dividend. The ex-dividend date is Monday, September 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.37%. PulteGroup’s payout ratio is currently 20.00%.
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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