Worldquant Millennium Quantitative Strategies LLC bought a new position in shares of PulteGroup, Inc. (NYSE:PHM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 119,361 shares of the construction company’s stock, valued at approximately $3,432,000.
Several other hedge funds have also recently added to or reduced their stakes in PHM. Millennium Management LLC boosted its holdings in shares of PulteGroup by 2,993.9% in the first quarter. Millennium Management LLC now owns 6,059,291 shares of the construction company’s stock valued at $178,688,000 after acquiring an additional 5,863,443 shares during the period. LSV Asset Management boosted its holdings in shares of PulteGroup by 39.6% in the second quarter. LSV Asset Management now owns 3,663,327 shares of the construction company’s stock valued at $105,320,000 after acquiring an additional 1,039,931 shares during the period. Morgan Stanley boosted its holdings in shares of PulteGroup by 35.9% in the second quarter. Morgan Stanley now owns 3,812,643 shares of the construction company’s stock valued at $109,614,000 after acquiring an additional 1,007,452 shares during the period. American Century Companies Inc. boosted its holdings in shares of PulteGroup by 26.1% in the second quarter. American Century Companies Inc. now owns 3,960,945 shares of the construction company’s stock valued at $113,877,000 after acquiring an additional 818,727 shares during the period. Finally, Investec Asset Management LTD acquired a new stake in shares of PulteGroup in the second quarter valued at approximately $20,944,000. Hedge funds and other institutional investors own 86.56% of the company’s stock.
In other PulteGroup news, Director Brian P. Anderson sold 5,000 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $28.96, for a total value of $144,800.00. Following the completion of the sale, the director now owns 101,235 shares of the company’s stock, valued at $2,931,765.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.86% of the stock is currently owned by company insiders.
PulteGroup (NYSE:PHM) last released its earnings results on Thursday, July 26th. The construction company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.15. PulteGroup had a return on equity of 19.95% and a net margin of 7.92%. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company earned $0.47 earnings per share. PulteGroup’s quarterly revenue was up 27.1% compared to the same quarter last year. On average, analysts predict that PulteGroup, Inc. will post 3.51 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 3rd. Shareholders of record on Tuesday, September 18th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Monday, September 17th. PulteGroup’s dividend payout ratio (DPR) is currently 16.44%.
Several equities research analysts have recently weighed in on PHM shares. JMP Securities reissued a “hold” rating on shares of PulteGroup in a report on Tuesday, July 31st. Barclays set a $30.00 price objective on PulteGroup and gave the company a “hold” rating in a report on Friday, September 14th. Susquehanna Bancshares set a $32.00 price objective on PulteGroup and gave the company a “hold” rating in a report on Friday, July 27th. Citigroup increased their price target on PulteGroup from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, July 23rd. Finally, Wedbush reaffirmed a “neutral” rating on shares of PulteGroup in a report on Monday, July 16th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.07.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods names.
See Also: What is a put option?
Receive News & Ratings for PulteGroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PulteGroup and related companies with MarketBeat.com's FREE daily email newsletter.