Quantitative Investment Management LLC Reduces Stake in PulteGroup, Inc. (PHM)
Quantitative Investment Management LLC decreased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 502,800 shares of the construction company’s stock after selling 13,900 shares during the quarter. Quantitative Investment Management LLC owned 0.17% of PulteGroup worth $12,333,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of PHM. Acadian Asset Management LLC acquired a new position in PulteGroup in the first quarter valued at about $197,000. Suntrust Banks Inc. acquired a new position in PulteGroup in the first quarter valued at about $451,000. UBS Asset Management Americas Inc. boosted its position in PulteGroup by 6.5% in the first quarter. UBS Asset Management Americas Inc. now owns 782,027 shares of the construction company’s stock valued at $18,417,000 after buying an additional 47,721 shares in the last quarter. Karp Capital Management Corp acquired a new position in PulteGroup in the first quarter valued at about $3,888,000. Finally, TD Asset Management Inc. boosted its position in PulteGroup by 7.9% in the first quarter. TD Asset Management Inc. now owns 166,562 shares of the construction company’s stock valued at $3,923,000 after buying an additional 12,194 shares in the last quarter. Institutional investors own 85.71% of the company’s stock.
PulteGroup, Inc. (NYSE PHM) opened at 25.66 on Thursday. The firm’s 50-day moving average is $25.55 and its 200 day moving average is $24.07. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 14.20 and a beta of 1.08. PulteGroup, Inc. has a 12-month low of $17.69 and a 12-month high of $26.64.
PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $0.37 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. On average, equities analysts expect that PulteGroup, Inc. will post $2.08 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Tuesday, September 19th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Monday, September 18th. PulteGroup’s payout ratio is 20.00%.
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A number of brokerages have weighed in on PHM. BidaskClub raised shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Credit Suisse Group began coverage on shares of PulteGroup in a research note on Thursday, June 22nd. They issued an “outperform” rating and a $27.00 target price for the company. Zacks Investment Research downgraded shares of PulteGroup from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Bank of America Corporation reissued a “buy” rating and set a $30.00 price target (up from $29.00) on shares of PulteGroup in a research note on Tuesday, June 27th. Finally, Mizuho downgraded shares of PulteGroup from a “neutral” rating to an “underperform” rating and set a $22.00 price target for the company. in a research note on Monday, July 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $24.91.
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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