Amundi Has $153.15 Million Stock Holdings in PulteGroup, Inc. $PHM

Amundi boosted its stake in PulteGroup, Inc. (NYSE:PHM) by 38.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,375,535 shares of the construction company’s stock after purchasing an additional 381,380 shares during the period. Amundi owned about 0.70% of PulteGroup worth $153,152,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PHM. Baird Financial Group Inc. grew its position in PulteGroup by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company’s stock worth $3,065,000 after acquiring an additional 2,164 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of PulteGroup by 27.2% during the second quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock valued at $337,462,000 after purchasing an additional 683,728 shares in the last quarter. Guggenheim Capital LLC grew its holdings in shares of PulteGroup by 12.9% during the second quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company’s stock worth $898,000 after purchasing an additional 975 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of PulteGroup by 197.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company’s stock valued at $128,000 after buying an additional 804 shares during the period. Finally, Invesco Ltd. increased its stake in shares of PulteGroup by 0.9% in the second quarter. Invesco Ltd. now owns 2,634,275 shares of the construction company’s stock valued at $277,811,000 after buying an additional 23,051 shares during the period. Institutional investors own 89.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PHM. Wedbush restated an “outperform” rating and issued a $150.00 price target on shares of PulteGroup in a research report on Tuesday, October 21st. Citigroup boosted their price objective on shares of PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. Bank of America lowered their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 10th. Evercore ISI cut their target price on PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 22nd. Finally, Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and an average price target of $135.83.

PulteGroup Stock Performance

PHM stock opened at $126.96 on Monday. The firm has a market cap of $24.75 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 1.02 and a beta of 1.31. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $123.34 and a 200-day moving average price of $119.22. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $142.11.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.86 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.31 billion. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.35 EPS. As a group, equities research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s dividend payout ratio (DPR) is presently 6.77%.

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.