CIBC Asset Management Inc Has $3.16 Million Stock Position in PulteGroup, Inc. (NYSE:PHM)

CIBC Asset Management Inc lessened its holdings in PulteGroup, Inc. (NYSE:PHMFree Report) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,630 shares of the construction company’s stock after selling 1,960 shares during the quarter. CIBC Asset Management Inc’s holdings in PulteGroup were worth $3,162,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in PulteGroup in the third quarter valued at about $310,000. Argent Trust Co grew its holdings in shares of PulteGroup by 7.3% during the 3rd quarter. Argent Trust Co now owns 3,016 shares of the construction company’s stock valued at $223,000 after purchasing an additional 204 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in PulteGroup during the 3rd quarter worth approximately $332,000. Janney Montgomery Scott LLC lifted its stake in PulteGroup by 4.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 35,051 shares of the construction company’s stock valued at $2,596,000 after purchasing an additional 1,566 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in PulteGroup by 4.1% in the third quarter. Van ECK Associates Corp now owns 38,311 shares of the construction company’s stock valued at $2,837,000 after buying an additional 1,493 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Down 0.9 %

Shares of NYSE PHM opened at $114.49 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The firm has a market cap of $24.08 billion, a PE ratio of 9.17, a P/E/G ratio of 0.52 and a beta of 1.59. The company’s fifty day simple moving average is $114.13 and its 200 day simple moving average is $107.18. PulteGroup, Inc. has a 12-month low of $68.80 and a 12-month high of $122.72.

PulteGroup (NYSE:PHMGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The construction company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.51. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.59 billion. As a group, sell-side analysts forecast that PulteGroup, Inc. will post 12.64 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, June 18th. This represents a $0.80 annualized dividend and a dividend yield of 0.70%. PulteGroup’s dividend payout ratio is 6.41%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a report on Wednesday, April 24th. Citigroup boosted their price target on PulteGroup from $127.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Zelman & Associates upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 24th. StockNews.com raised shares of PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Finally, Jefferies Financial Group raised their price target on shares of PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.07.

Get Our Latest Report on PulteGroup

PulteGroup Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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