AQR Capital Management LLC increased its holdings in PulteGroup, Inc. (NYSE:PHM) by 13.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,405,551 shares of the construction company’s stock after buying an additional 990,999 shares during the period. AQR Capital Management LLC owned 3.07% of PulteGroup worth $265,783,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Paloma Partners Management Co bought a new stake in shares of PulteGroup in the second quarter worth $452,000. Man Group plc grew its holdings in shares of PulteGroup by 502.7% in the second quarter. Man Group plc now owns 2,098,548 shares of the construction company’s stock worth $66,357,000 after purchasing an additional 1,750,338 shares during the last quarter. Little House Capital LLC bought a new position in shares of PulteGroup in the second quarter worth about $6,745,000. Assetmark Inc. grew its holdings in shares of PulteGroup by 10.1% in the second quarter. Assetmark Inc. now owns 50,109 shares of the construction company’s stock worth $1,584,000 after purchasing an additional 4,582 shares during the last quarter. Finally, Putnam Investments LLC grew its holdings in shares of PulteGroup by 0.4% in the second quarter. Putnam Investments LLC now owns 4,157,343 shares of the construction company’s stock worth $131,455,000 after purchasing an additional 16,350 shares during the last quarter. Institutional investors own 86.32% of the company’s stock.
Several research analysts have issued reports on PHM shares. SunTrust Banks started coverage on shares of PulteGroup in a report on Monday, August 12th. They set a “buy” rating and a $38.00 target price on the stock. ValuEngine cut shares of PulteGroup from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Royal Bank of Canada set a $33.00 target price on shares of PulteGroup and gave the stock a “hold” rating in a report on Monday, August 26th. Seaport Global Securities started coverage on shares of PulteGroup in a report on Friday, August 23rd. They set a “buy” rating and a $44.00 target price on the stock. Finally, JPMorgan Chase & Co. upgraded shares of PulteGroup from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $30.00 to $37.50 in a report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. PulteGroup currently has a consensus rating of “Hold” and a consensus price target of $31.91.
Shares of PHM traded down $0.06 during trading hours on Friday, reaching $36.89. 1,913,615 shares of the company traded hands, compared to its average volume of 3,183,383. The stock has a fifty day simple moving average of $35.14 and a 200 day simple moving average of $32.34. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.54. PulteGroup, Inc. has a fifty-two week low of $20.64 and a fifty-two week high of $37.33. The stock has a market capitalization of $10.12 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 1.46 and a beta of 0.65.
PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, July 23rd. The construction company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. PulteGroup had a return on equity of 20.68% and a net margin of 9.23%. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the company earned $0.89 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. Research analysts predict that PulteGroup, Inc. will post 3.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Wednesday, September 18th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Tuesday, September 17th. PulteGroup’s payout ratio is 12.26%.
In other PulteGroup news, insider James L. Ossowski sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $34.00, for a total value of $170,000.00. Following the sale, the insider now directly owns 25,750 shares of the company’s stock, valued at approximately $875,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.49% of the stock is currently owned by company insiders.
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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