Retirement Systems of Alabama cut its position in shares of PulteGroup, Inc. (NYSE:PHM) by 1.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 118,725 shares of the construction company’s stock after selling 1,774 shares during the period. Retirement Systems of Alabama’s holdings in PulteGroup were worth $3,320,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. CSat Investment Advisory L.P. grew its holdings in shares of PulteGroup by 34.2% in the 4th quarter. CSat Investment Advisory L.P. now owns 1,469 shares of the construction company’s stock worth $38,000 after acquiring an additional 374 shares during the last quarter. M&T Bank Corp grew its holdings in shares of PulteGroup by 2.2% during the fourth quarter. M&T Bank Corp now owns 22,873 shares of the construction company’s stock valued at $594,000 after buying an additional 500 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of PulteGroup by 2.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 25,058 shares of the construction company’s stock valued at $651,000 after buying an additional 513 shares in the last quarter. Chartwell Investment Partners LLC grew its holdings in shares of PulteGroup by 0.6% during the first quarter. Chartwell Investment Partners LLC now owns 86,268 shares of the construction company’s stock valued at $2,412,000 after buying an additional 516 shares in the last quarter. Finally, Focused Wealth Management Inc grew its holdings in shares of PulteGroup by 17.6% during the fourth quarter. Focused Wealth Management Inc now owns 4,000 shares of the construction company’s stock valued at $104,000 after buying an additional 600 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.
In other PulteGroup news, insider Ryan Marshall sold 15,000 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $27.81, for a total value of $417,150.00. Following the completion of the sale, the insider now owns 453,996 shares of the company’s stock, valued at $12,625,628.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.49% of the stock is currently owned by company insiders.
A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded PulteGroup from a “sell” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Thursday. BTIG Research upgraded PulteGroup from a “sell” rating to a “neutral” rating and set a $31.35 price target on the stock in a report on Wednesday, April 24th. Buckingham Research lifted their price target on PulteGroup from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. upgraded PulteGroup from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $24.00 to $25.50 in a report on Wednesday, April 10th. Finally, Barclays set a $28.00 price target on PulteGroup and gave the company a “hold” rating in a report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. PulteGroup currently has an average rating of “Hold” and an average target price of $28.53.
PHM opened at $31.46 on Monday. The firm has a market cap of $8.72 billion, a P/E ratio of 8.76, a PEG ratio of 1.38 and a beta of 0.79. PulteGroup, Inc. has a 1 year low of $20.64 and a 1 year high of $33.04. The company has a quick ratio of 0.77, a current ratio of 0.72 and a debt-to-equity ratio of 0.61.
PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, April 23rd. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.12. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.93 billion. PulteGroup had a return on equity of 21.65% and a net margin of 9.97%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 earnings per share. As a group, analysts predict that PulteGroup, Inc. will post 3.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Friday, March 15th were given a dividend of $0.11 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.44 dividend on an annualized basis and a yield of 1.40%. PulteGroup’s payout ratio is 12.26%.
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.
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