Concert Wealth Management Inc. increased its position in PulteGroup Inc. (NYSE:PHM) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 11,892 shares of the company’s stock after buying an additional 18 shares during the period. Concert Wealth Management Inc.’s holdings in PulteGroup were worth $233,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in PHM. Huntington National Bank raised its stake in shares of PulteGroup by 16.5% in the second quarter. Huntington National Bank now owns 12,967 shares of the company’s stock valued at $253,000 after buying an additional 1,832 shares during the period. ING Groep NV acquired a new stake in shares of PulteGroup during the second quarter valued at about $17,356,000. Calamos Advisors LLC acquired a new stake in shares of PulteGroup during the second quarter valued at about $1,032,000. American Century Companies Inc. raised its stake in shares of PulteGroup by 21.7% in the second quarter. American Century Companies Inc. now owns 5,007,329 shares of the company’s stock valued at $97,593,000 after buying an additional 893,841 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of PulteGroup by 45.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 19,486 shares of the company’s stock valued at $380,000 after buying an additional 6,111 shares during the period. Hedge funds and other institutional investors own 89.08% of the company’s stock.
PulteGroup Inc. (NYSE:PHM) traded up 0.15% during midday trading on Friday, reaching $19.43. 4,598,445 shares of the company were exchanged. PulteGroup Inc. has a 52 week low of $14.61 and a 52 week high of $22.40. The stock has a market capitalization of $6.68 billion, a P/E ratio of 12.79 and a beta of 1.50. The firm’s 50 day moving average price is $20.18 and its 200-day moving average price is $19.63.
PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. PulteGroup had a net margin of 7.89% and a return on equity of 11.24%. The company earned $1.80 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the firm posted $0.28 EPS. PulteGroup’s revenue for the quarter was up 40.6% compared to the same quarter last year. Equities analysts forecast that PulteGroup Inc. will post $1.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 20th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, September 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.85%. PulteGroup’s payout ratio is 23.68%.
Several analysts recently issued reports on the stock. FBR & Co restated a “marketperform” rating and set a $24.00 target price on shares of PulteGroup in a research report on Thursday, September 29th. Wells Fargo & Co. assumed coverage on shares of PulteGroup in a research report on Wednesday, September 28th. They set a “market perform” rating for the company. Zacks Investment Research lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Wedbush assumed coverage on shares of PulteGroup in a research report on Monday, September 19th. They set an “underperform” rating and a $16.00 target price for the company. Finally, Deutsche Bank AG restated a “buy” rating and set a $27.00 target price on shares of PulteGroup in a research report on Thursday, September 15th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of C$21.53.
In other news, VP James L. Ossowski sold 11,655 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of C$25.75, for a total transaction of C$300,116.25. Following the sale, the vice president now owns 51,880 shares of the company’s stock, valued at approximately C$1,335,910. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Harmon D. Smith sold 53,582 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of C$22.05, for a total transaction of C$1,181,483.10. Following the sale, the chief operating officer now directly owns 313,628 shares in the company, valued at approximately C$6,915,497.40. The disclosure for this sale can be found here. Insiders own 1.83% of the company’s stock.
PulteGroup, Inc is a homebuilder operating in the United States. The Company, through Pulte Mortgage LLC, is engaged in mortgage banking operations and title operations. The Company’s subsidiaries are also engaged in the homebuilding business. The Company operates through Homebuilding and Financial Services segments.