abrdn plc Has $2.34 Million Stock Position in PulteGroup, Inc. (NYSE:PHM)

abrdn plc cut its stake in shares of PulteGroup, Inc. (NYSE:PHMGet Rating) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,903 shares of the construction company’s stock after selling 5,417 shares during the period. abrdn plc’s holdings in PulteGroup were worth $2,340,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC increased its stake in shares of PulteGroup by 130.2% during the second quarter. Larson Financial Group LLC now owns 953 shares of the construction company’s stock worth $38,000 after purchasing an additional 539 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in PulteGroup by 9.3% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 136,489 shares of the construction company’s stock worth $5,409,000 after buying an additional 11,649 shares during the period. TD Asset Management Inc. lifted its holdings in shares of PulteGroup by 10.7% during the second quarter. TD Asset Management Inc. now owns 197,033 shares of the construction company’s stock worth $7,808,000 after buying an additional 19,000 shares in the last quarter. Winslow Asset Management Inc. boosted its position in shares of PulteGroup by 1.0% in the second quarter. Winslow Asset Management Inc. now owns 372,367 shares of the construction company’s stock valued at $14,757,000 after acquiring an additional 3,525 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in shares of PulteGroup by 13.1% in the second quarter. CIBC Private Wealth Group LLC now owns 6,036 shares of the construction company’s stock valued at $239,000 after acquiring an additional 697 shares in the last quarter. Institutional investors own 89.34% of the company’s stock.

PulteGroup Price Performance

Shares of PHM stock opened at $38.72 on Tuesday. The business has a fifty day simple moving average of $39.37 and a 200 day simple moving average of $41.50. The company has a market cap of $8.82 billion, a P/E ratio of 3.93, a P/E/G ratio of 2.14 and a beta of 1.28. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.25. PulteGroup, Inc. has a twelve month low of $35.03 and a twelve month high of $58.09.

PulteGroup (NYSE:PHMGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The construction company reported $2.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($0.04). The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $4.04 billion. PulteGroup had a net margin of 15.56% and a return on equity of 30.80%. On average, sell-side analysts forecast that PulteGroup, Inc. will post 10.33 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Thursday, September 22nd were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Wednesday, September 21st. PulteGroup’s dividend payout ratio (DPR) is 6.09%.

Wall Street Analysts Forecast Growth

PHM has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of PulteGroup from $51.00 to $49.50 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. BTIG Research cut their price target on PulteGroup from $52.00 to $50.00 in a research note on Wednesday, October 26th. Wedbush lowered their price objective on PulteGroup to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a report on Tuesday, October 11th. Finally, Citigroup increased their target price on PulteGroup to $51.00 in a report on Thursday, October 13th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.05.

About PulteGroup

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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.

Further Reading

Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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