Assetmark Inc. Has $69.23 Million Stock Position in PulteGroup, Inc. $PHM

Assetmark Inc. raised its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 6.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 656,484 shares of the construction company’s stock after purchasing an additional 37,883 shares during the quarter. Assetmark Inc.’s holdings in PulteGroup were worth $69,233,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Cooper Financial Group grew its position in shares of PulteGroup by 1.4% during the 2nd quarter. Cooper Financial Group now owns 6,697 shares of the construction company’s stock worth $706,000 after buying an additional 92 shares during the period. Tocqueville Asset Management L.P. grew its position in shares of PulteGroup by 2.0% during the 1st quarter. Tocqueville Asset Management L.P. now owns 5,062 shares of the construction company’s stock worth $520,000 after buying an additional 100 shares during the period. Leavell Investment Management Inc. grew its position in shares of PulteGroup by 4.7% during the 2nd quarter. Leavell Investment Management Inc. now owns 2,260 shares of the construction company’s stock worth $239,000 after buying an additional 102 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of PulteGroup by 0.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,635 shares of the construction company’s stock worth $1,227,000 after buying an additional 103 shares during the period. Finally, Hager Investment Management Services LLC grew its position in shares of PulteGroup by 33.3% during the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock worth $44,000 after buying an additional 105 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PHM has been the subject of several analyst reports. Oppenheimer boosted their target price on PulteGroup from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 23rd. Citigroup boosted their target price on PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. boosted their target price on PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Wedbush reiterated an “outperform” rating and set a $150.00 price objective on shares of PulteGroup in a report on Tuesday, October 21st. Finally, Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.67.

PulteGroup Trading Down 2.1%

NYSE:PHM opened at $118.18 on Thursday. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $142.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $23.04 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 0.97 and a beta of 1.29. The business’s 50-day simple moving average is $129.83 and its 200-day simple moving average is $115.23.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the previous year, the business posted $3.35 EPS. PulteGroup’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were paid a $0.22 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 0.7%. PulteGroup’s payout ratio is presently 6.77%.

About PulteGroup

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.