Ladenburg Thalmann Financial Services Inc. lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 24.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 21,024 shares of the construction company’s stock after selling 6,666 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in PulteGroup were worth $667,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PHM. Jennison Associates LLC acquired a new stake in PulteGroup during the 1st quarter worth $652,000. Northern Trust Corp grew its holdings in PulteGroup by 6.7% during the 1st quarter. Northern Trust Corp now owns 3,738,682 shares of the construction company’s stock worth $104,533,000 after acquiring an additional 234,028 shares during the period. Westwood Holdings Group Inc. acquired a new stake in PulteGroup during the 1st quarter worth $1,116,000. Westfield Capital Management Co. LP acquired a new stake in PulteGroup during the 1st quarter worth $29,290,000. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in PulteGroup during the 1st quarter worth $4,575,000. 86.32% of the stock is owned by hedge funds and other institutional investors.
PHM has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised shares of PulteGroup from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $30.00 to $37.50 in a report on Wednesday, September 11th. ValuEngine lowered shares of PulteGroup from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. SunTrust Banks initiated coverage on shares of PulteGroup in a report on Monday, August 12th. They issued a “buy” rating and a $38.00 price target for the company. Seaport Global Securities initiated coverage on shares of PulteGroup in a report on Friday, August 23rd. They issued a “buy” rating and a $44.00 price target for the company. Finally, Royal Bank of Canada set a $33.00 price target on shares of PulteGroup and gave the company a “hold” rating in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. PulteGroup has an average rating of “Hold” and a consensus target price of $31.91.
PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, July 23rd. The construction company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. PulteGroup had a net margin of 9.23% and a return on equity of 20.68%. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the business earned $0.89 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. Research analysts expect that PulteGroup, Inc. will post 3.42 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors 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 presently 12.26%.
In related news, insider James L. Ossowski sold 5,000 shares of the company’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 transaction, the insider now directly owns 25,750 shares of the company’s stock, valued at approximately $875,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.49% of the stock is currently owned by corporate 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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