Comerica Bank lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,625 shares of the company’s stock after selling 214 shares during the period. Comerica Bank’s holdings in PulteGroup were worth $1,490,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Orinda Asset Management LLC acquired a new position in shares of PulteGroup during the third quarter valued at approximately $153,000. Advisory Services Network LLC increased its position in shares of PulteGroup by 5.4% in the third quarter. Advisory Services Network LLC now owns 9,811 shares of the company’s stock valued at $197,000 after buying an additional 501 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of PulteGroup during the third quarter valued at approximately $224,000. MCF Advisors LLC increased its position in shares of PulteGroup by 0.5% in the third quarter. MCF Advisors LLC now owns 11,858 shares of the company’s stock valued at $238,000 after buying an additional 55 shares during the last quarter. Finally, Concert Wealth Management Inc. increased its position in shares of PulteGroup by 3.4% in the third quarter. Concert Wealth Management Inc. now owns 12,291 shares of the company’s stock valued at $246,000 after buying an additional 399 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.
Shares of PulteGroup, Inc. (NYSE:PHM) opened at 23.74 on Tuesday. The stock has a 50 day moving average price of $22.09 and a 200 day moving average price of $20.01. PulteGroup, Inc. has a one year low of $16.60 and a one year high of $24.05. The company has a market capitalization of $7.55 billion, a PE ratio of 13.58 and a beta of 1.24.
PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, January 26th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.08. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.32 billion. PulteGroup had a return on equity of 12.29% and a net margin of 7.86%. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period last year, the firm earned $0.57 EPS. On average, equities research analysts predict that PulteGroup, Inc. will post $2.23 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Friday, March 10th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.52%. The ex-dividend date is Wednesday, March 8th. PulteGroup’s dividend payout ratio is currently 20.22%.
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PHM has been the topic of several research analyst reports. Bank of America Corp upgraded PulteGroup from an “underperform” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Friday, January 27th. FBR & Co upgraded PulteGroup from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $23.00 to $26.00 in a research report on Tuesday, February 14th. BTIG Research initiated coverage on PulteGroup in a research report on Tuesday, February 7th. They issued a “neutral” rating on the stock. Zacks Investment Research upgraded PulteGroup from a “sell” rating to a “hold” rating in a research report on Wednesday, December 28th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $24.00 price objective (up from $22.00) on shares of PulteGroup in a research report on Friday, January 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $22.90.
In other PulteGroup news, COO Harmon D. Smith sold 48,010 shares of the stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $21.40, for a total transaction of $1,027,414.00. Following the sale, the chief operating officer now directly owns 249,547 shares of the company’s stock, valued at approximately $5,340,305.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard J. Dugas, Jr. sold 341,222 shares of the stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $20.78, for a total value of $7,090,593.16. Following the sale, the director now directly owns 1,216,348 shares in the company, valued at $25,275,711.44. The disclosure for this sale can be found here. Insiders have sold a total of 493,790 shares of company stock worth $10,357,053 over the last ninety days. 1.83% of the stock is owned by insiders.
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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