DNB Asset Management AS boosted its stake in PulteGroup, Inc. (NYSE:PHM – Get Rating) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,162 shares of the construction company’s stock after acquiring an additional 3,596 shares during the period. DNB Asset Management AS’s holdings in PulteGroup were worth $4,909,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in PHM. Sugarloaf Wealth Management LLC boosted its holdings in PulteGroup by 303.2% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 504 shares of the construction company’s stock valued at $29,000 after acquiring an additional 379 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in PulteGroup in the fourth quarter valued at $30,000. Catalyst Capital Advisors LLC bought a new stake in PulteGroup in the fourth quarter valued at $37,000. Newbridge Financial Services Group Inc. bought a new stake in PulteGroup in the fourth quarter valued at $39,000. Finally, Tyler Stone Wealth Management bought a new stake in PulteGroup in the fourth quarter valued at $49,000. Institutional investors and hedge funds own 90.32% of the company’s stock.
PHM opened at $37.92 on Thursday. The stock has a 50-day moving average price of $42.41 and a 200-day moving average price of $47.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market cap of $9.01 billion, a PE ratio of 4.65, a P/E/G ratio of 0.56 and a beta of 1.32. PulteGroup, Inc. has a 1 year low of $35.03 and a 1 year high of $58.09.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Friday, June 10th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, June 9th. PulteGroup’s dividend payout ratio (DPR) is 7.35%.
A number of analysts have recently commented on the stock. Wedbush dropped their target price on shares of PulteGroup from $68.00 to $57.00 in a report on Monday, May 2nd. Wells Fargo & Company dropped their target price on shares of PulteGroup from $46.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, June 17th. Citigroup dropped their target price on shares of PulteGroup from $55.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of PulteGroup from $57.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, April 13th. Finally, UBS Group dropped their target price on shares of PulteGroup from $73.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, June 16th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PulteGroup has an average rating of “Moderate Buy” and a consensus target price of $51.58.
PulteGroup Company Profile (Get Rating)
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, American West, and John Wieland Homes and Neighborhoods brand names.
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