Assenagon Asset Management S.A. Sells 6,769 Shares of PulteGroup, Inc. (NYSE:PHM)

Assenagon Asset Management S.A. lowered its stake in PulteGroup, Inc. (NYSE:PHM) by 17.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,299 shares of the construction company’s stock after selling 6,769 shares during the quarter. Assenagon Asset Management S.A.’s holdings in PulteGroup were worth $3,320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Accurate Wealth Management LLC boosted its stake in shares of PulteGroup by 24.8% in the first quarter. Accurate Wealth Management LLC now owns 3,285 shares of the construction company’s stock worth $310,000 after acquiring an additional 653 shares during the period. GAMMA Investing LLC boosted its stake in shares of PulteGroup by 38.9% in the first quarter. GAMMA Investing LLC now owns 3,043 shares of the construction company’s stock worth $313,000 after acquiring an additional 853 shares during the period. Tounjian Advisory Partners LLC bought a new position in shares of PulteGroup in the first quarter worth about $6,813,000. Cetera Trust Company N.A boosted its stake in shares of PulteGroup by 8.5% in the first quarter. Cetera Trust Company N.A now owns 9,922 shares of the construction company’s stock worth $1,020,000 after acquiring an additional 775 shares during the period. Finally, Wedge Capital Management L L P NC boosted its stake in shares of PulteGroup by 18.4% in the first quarter. Wedge Capital Management L L P NC now owns 38,893 shares of the construction company’s stock worth $3,998,000 after acquiring an additional 6,057 shares during the period. Institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PHM shares. UBS Group dropped their price objective on PulteGroup from $151.00 to $141.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on PulteGroup from $140.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Evercore ISI raised their target price on shares of PulteGroup from $161.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 23rd. Barclays reduced their price objective on PulteGroup from $100.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 23rd. Finally, Wedbush reiterated an “outperform” rating and issued a $135.00 target price on shares of PulteGroup in a report on Tuesday, April 22nd. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.69.

PulteGroup Price Performance

PHM opened at $101.43 on Monday. The business has a fifty day moving average of $100.04 and a 200 day moving average of $106.69. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The stock has a market cap of $20.33 billion, a P/E ratio of 6.89, a PEG ratio of 0.29 and a beta of 1.29.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.10. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same period in the previous year, the company posted $3.10 EPS. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, June 17th. PulteGroup’s dividend payout ratio is 6.21%.

PulteGroup Company Profile

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.