Alliancebernstein L.P. lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 9.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,400,788 shares of the construction company’s stock after selling 240,452 shares during the period. Alliancebernstein L.P. owned approximately 0.80% of PulteGroup worth $58,891,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Hartwell J M Limited Partnership raised its stake in PulteGroup by 4.3% during the second quarter. Hartwell J M Limited Partnership now owns 22,850 shares of the construction company’s stock worth $561,000 after purchasing an additional 950 shares during the period. Mirador Capital Partners LP raised its stake in PulteGroup by 3.7% during the second quarter. Mirador Capital Partners LP now owns 48,655 shares of the construction company’s stock worth $1,246,000 after purchasing an additional 1,728 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in PulteGroup during the second quarter worth approximately $2,631,000. Commerce Bank purchased a new position in PulteGroup during the first quarter worth approximately $207,000. Finally, Bank of Montreal Can raised its stake in PulteGroup by 129.1% during the second quarter. Bank of Montreal Can now owns 669,271 shares of the construction company’s stock worth $16,417,000 after purchasing an additional 377,181 shares during the period. 85.80% of the stock is currently owned by institutional investors.
Shares of PulteGroup, Inc. (NYSE PHM) opened at 26.40 on Friday. The company’s 50-day moving average is $25.39 and its 200-day moving average is $23.96. PulteGroup, Inc. has a 12-month low of $17.69 and a 12-month high of $26.64. The firm has a market capitalization of $7.96 billion, a price-to-earnings ratio of 14.61 and a beta of 1.08.
PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, July 25th. The construction company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. PulteGroup had a net margin of 7.35% and a return on equity of 13.43%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $0.37 earnings per share. PulteGroup’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts forecast that PulteGroup, Inc. will post $2.09 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders 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 dividend yield of 1.36%. The ex-dividend date is Monday, September 18th. PulteGroup’s payout ratio is 20.00%.
Several equities research analysts have recently issued reports on PHM shares. BidaskClub raised shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. Zacks Investment Research lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Wedbush reissued a “neutral” rating and issued a $22.00 price objective on shares of PulteGroup in a research report on Tuesday, July 25th. UBS AG lowered shares of PulteGroup from a “positive” rating to a “neutral” rating in a research report on Wednesday, July 26th. Finally, Citigroup Inc. increased their price objective on shares of PulteGroup from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $25.08.
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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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