CIBC World Markets Inc. lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,176 shares of the construction company’s stock after selling 1,302 shares during the quarter. CIBC World Markets Inc.’s holdings in PulteGroup were worth $2,579,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. DB Wealth Management Group LLC acquired a new stake in PulteGroup during the 4th quarter worth $36,000. Arkadios Wealth Advisors boosted its stake in PulteGroup by 149.6% during the 1st quarter. Arkadios Wealth Advisors now owns 836 shares of the construction company’s stock worth $43,000 after purchasing an additional 501 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new position in shares of PulteGroup during the 4th quarter valued at about $53,000. CWM LLC boosted its position in shares of PulteGroup by 68.7% during the 1st quarter. CWM LLC now owns 1,297 shares of the construction company’s stock valued at $68,000 after acquiring an additional 528 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of PulteGroup during the 1st quarter valued at about $78,000. 85.18% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on PHM shares. Wolfe Research started coverage on shares of PulteGroup in a research report on Tuesday, March 16th. They set a “peer perform” rating on the stock. BTIG Research boosted their price target on shares of PulteGroup from $56.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, April 28th. Wells Fargo & Company began coverage on shares of PulteGroup in a report on Wednesday, April 21st. They issued an “equal weight” rating and a $55.00 price objective on the stock. Finally, Royal Bank of Canada boosted their price objective on shares of PulteGroup from $54.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, April 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. PulteGroup currently has an average rating of “Buy” and a consensus target price of $58.46.
Shares of PulteGroup stock opened at $53.99 on Friday. PulteGroup, Inc. has a one year low of $31.55 and a one year high of $63.90. The firm has a market capitalization of $14.20 billion, a P/E ratio of 9.68 and a beta of 1.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50-day moving average is $56.48.
PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, April 27th. The construction company reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.06. PulteGroup had a return on equity of 22.42% and a net margin of 13.14%. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the previous year, the company posted $0.74 earnings per share. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, analysts forecast that PulteGroup, Inc. will post 7.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 2nd. Investors of record on Friday, June 11th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Thursday, June 10th. PulteGroup’s dividend payout ratio (DPR) is 11.89%.
PulteGroup announced that its board has authorized a stock buyback plan on Tuesday, April 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to purchase up to 6.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs 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, American West, and John Wieland Homes and Neighborhoods brand names.
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