Pendal Group Ltd Acquires New Position in PulteGroup, Inc. (NYSE:PHM)

Pendal Group Ltd acquired a new stake in shares of PulteGroup, Inc. (NYSE:PHM) during the second quarter, Holdings Channel.com reports. The fund acquired 2,291 shares of the construction company’s stock, valued at approximately $72,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. grew its position in PulteGroup by 3.5% during the first quarter. BlackRock Inc. now owns 20,802,851 shares of the construction company’s stock valued at $581,647,000 after purchasing an additional 695,085 shares in the last quarter. Dimensional Fund Advisors LP grew its position in PulteGroup by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,530,759 shares of the construction company’s stock valued at $221,724,000 after purchasing an additional 361,635 shares in the last quarter. Northern Trust Corp grew its position in PulteGroup by 6.7% during the first quarter. Northern Trust Corp now owns 3,738,682 shares of the construction company’s stock valued at $104,533,000 after purchasing an additional 234,028 shares in the last quarter. Geode Capital Management LLC grew its position in PulteGroup by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 3,726,118 shares of the construction company’s stock valued at $96,689,000 after purchasing an additional 145,187 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in PulteGroup by 15.6% during the second quarter. Janus Henderson Group PLC now owns 2,088,316 shares of the construction company’s stock valued at $66,033,000 after purchasing an additional 281,443 shares in the last quarter. 87.07% of the stock is currently owned by hedge funds and other institutional investors.

NYSE PHM traded up $0.67 during trading on Friday, reaching $32.07. The company’s stock had a trading volume of 2,448,600 shares, compared to its average volume of 4,040,359. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $8.61 billion, a PE ratio of 8.93, a PEG ratio of 1.24 and a beta of 0.72. The business has a 50-day moving average price of $32.18 and a 200-day moving average price of $30.25. PulteGroup, Inc. has a 1-year low of $20.64 and a 1-year high of $34.03.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, July 23rd. The construction company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.04. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.47 billion. PulteGroup had a net margin of 9.23% and a return on equity of 20.68%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 earnings per share. As a group, analysts expect that PulteGroup, Inc. will post 3.42 earnings per share for the current year.

In other news, insider James L. Ossowski sold 5,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $34.00, for a total value of $170,000.00. Following the completion of the sale, the insider now directly owns 25,750 shares in the company, valued at $875,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian P. Anderson sold 21,191 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $33.03, for a total transaction of $699,938.73. Following the completion of the sale, the director now owns 80,065 shares of the company’s stock, valued at $2,644,546.95. The disclosure for this sale can be found here. Insiders sold 54,957 shares of company stock valued at $1,788,205 over the last 90 days. 0.49% of the stock is owned by corporate insiders.

PHM has been the subject of a number of analyst reports. Royal Bank of Canada upgraded shares of PulteGroup from an “underperform” rating to a “sector perform” rating and lifted their target price for the company from $29.00 to $33.00 in a research note on Wednesday, July 24th. SunTrust Banks initiated coverage on shares of PulteGroup in a research note on Monday, August 12th. They issued a “buy” rating and a $38.00 target price for the company. Zacks Investment Research upgraded shares of PulteGroup from a “sell” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Thursday, April 25th. Finally, BTIG Research upgraded shares of PulteGroup from a “sell” rating to a “neutral” rating and set a $31.35 target price for the company in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. PulteGroup presently has an average rating of “Hold” and an average price target of $29.60.

About PulteGroup

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, and John Wieland Homes and Neighborhoods brand names.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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