Allspring Global Investments Holdings LLC Increases Stake in PulteGroup, Inc. $PHM

Allspring Global Investments Holdings LLC grew its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 16.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 833,512 shares of the construction company’s stock after buying an additional 117,729 shares during the period. Allspring Global Investments Holdings LLC’s holdings in PulteGroup were worth $91,636,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Reyes Financial Architecture Inc. increased its stake in shares of PulteGroup by 42.1% during the first quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company’s stock valued at $79,000 after buying an additional 228 shares during the period. Xponance Inc. increased its stake in shares of PulteGroup by 38.6% during the first quarter. Xponance Inc. now owns 38,993 shares of the construction company’s stock valued at $4,008,000 after buying an additional 10,867 shares during the period. Florida Financial Advisors LLC increased its stake in shares of PulteGroup by 30.5% during the first quarter. Florida Financial Advisors LLC now owns 4,832 shares of the construction company’s stock valued at $496,000 after buying an additional 1,129 shares during the period. Edgestream Partners L.P. increased its stake in shares of PulteGroup by 2,687.0% during the first quarter. Edgestream Partners L.P. now owns 77,310 shares of the construction company’s stock valued at $7,947,000 after buying an additional 74,536 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in shares of PulteGroup by 15.9% during the first quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company’s stock valued at $93,000 after buying an additional 125 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Trading Up 0.1%

PulteGroup stock opened at $120.21 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $130.53 and its two-hundred day simple moving average is $113.17. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The company has a market capitalization of $23.72 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 0.35 and a beta of 1.29.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping the consensus estimate of $2.92 by $0.11. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the previous year, the company posted $3.83 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup’s payout ratio is 6.58%.

Wall Street Analyst Weigh In

PHM has been the topic of several research analyst reports. Seaport Res Ptn raised PulteGroup from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 22nd. UBS Group upped their price target on PulteGroup from $141.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price target on PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Oppenheimer upped their price target on PulteGroup from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $150.00 price target on shares of PulteGroup in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.92.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.