Point72 Asset Management L.P. Has $417,000 Stake in PulteGroup, Inc. (NYSE:PHM)

Point72 Asset Management L.P. grew its holdings in PulteGroup, Inc. (NYSE:PHM) by 660.0% in the 3rd quarter, Holdings Channel reports. The fund owned 11,400 shares of the construction company’s stock after purchasing an additional 9,900 shares during the quarter. Point72 Asset Management L.P.’s holdings in PulteGroup were worth $417,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PHM. Charles Schwab Investment Management Inc. grew its position in shares of PulteGroup by 17.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,408,339 shares of the construction company’s stock valued at $76,152,000 after purchasing an additional 355,575 shares during the period. Nuveen Asset Management LLC lifted its stake in PulteGroup by 416.9% in the second quarter. Nuveen Asset Management LLC now owns 1,994,991 shares of the construction company’s stock valued at $63,081,000 after buying an additional 1,609,068 shares in the last quarter. Ibex Wealth Advisors bought a new position in PulteGroup in the second quarter valued at approximately $37,000. Eagle Asset Management Inc. acquired a new position in shares of PulteGroup in the second quarter valued at approximately $1,666,000. Finally, Rhumbline Advisers boosted its holdings in shares of PulteGroup by 1.8% in the third quarter. Rhumbline Advisers now owns 426,551 shares of the construction company’s stock valued at $15,590,000 after buying an additional 7,365 shares during the period. Institutional investors own 86.08% of the company’s stock.

Shares of PHM stock opened at $40.06 on Friday. The company’s fifty day simple moving average is $39.24 and its 200-day simple moving average is $34.79. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.53. The firm has a market cap of $10.86 billion, a PE ratio of 11.16, a P/E/G ratio of 1.39 and a beta of 0.61. PulteGroup, Inc. has a 12 month low of $24.45 and a 12 month high of $41.22.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 22nd. The construction company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.09. PulteGroup had a net margin of 9.01% and a return on equity of 20.02%. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities analysts predict that PulteGroup, Inc. will post 3.54 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 17th. This is a boost from PulteGroup’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.20%. PulteGroup’s payout ratio is 12.26%.

A number of equities research analysts recently commented on PHM shares. Seaport Global Securities lowered shares of PulteGroup from a “buy” rating to a “neutral” rating in a report on Monday, November 4th. Wells Fargo & Co upped their target price on shares of PulteGroup from $34.00 to $42.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 23rd. Wedbush increased their target price on PulteGroup from $28.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Goldman Sachs Group initiated coverage on PulteGroup in a research note on Friday. They issued a “buy” rating and a $45.00 price target on the stock. Finally, Royal Bank of Canada set a $33.00 price target on PulteGroup and gave the company a “hold” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $36.40.

In other news, SVP James L. Ossowski sold 10,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $39.95, for a total transaction of $399,500.00. Following the completion of the transaction, the senior vice president now directly owns 25,750 shares in the company, valued at approximately $1,028,712.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.49% of the company’s stock.

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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