Assenagon Asset Management S.A. Lowers Stake in PulteGroup, Inc. $PHM

Assenagon Asset Management S.A. cut its stake in PulteGroup, Inc. (NYSE:PHM) by 61.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 166,790 shares of the construction company’s stock after selling 268,790 shares during the period. Assenagon Asset Management S.A. owned about 0.08% of PulteGroup worth $22,038,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. WPG Advisers LLC purchased a new position in shares of PulteGroup in the 1st quarter worth about $25,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of PulteGroup during the 2nd quarter valued at about $32,000. Rexford Capital Inc. bought a new stake in PulteGroup in the 2nd quarter worth approximately $35,000. Hager Investment Management Services LLC boosted its stake in PulteGroup by 33.3% in the second quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock worth $44,000 after buying an additional 105 shares in the last quarter. Finally, REAP Financial Group LLC boosted its stake in PulteGroup by 188.1% in the second quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock worth $56,000 after buying an additional 348 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Down 1.7%

NYSE PHM opened at $119.58 on Friday. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $142.11. The stock has a market capitalization of $23.31 billion, a PE ratio of 9.21, a PEG ratio of 0.98 and a beta of 1.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day moving average is $122.10 and its 200 day moving average is $120.74.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.31 billion. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $3.35 EPS. Sell-side analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.22. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. PulteGroup’s payout ratio is 8.01%.

Wall Street Analyst Weigh In

PHM has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Evercore ISI decreased their target price on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 22nd. BTIG Research began coverage on shares of PulteGroup in a research report on Monday, December 1st. They set a “neutral” rating for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of PulteGroup in a research note on Monday. Finally, Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price of $137.25.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.