PulteGroup, Inc. (PHM) Shares Bought by APG Asset Management N.V.
APG Asset Management N.V. raised its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 26.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 451,001 shares of the construction company’s stock after purchasing an additional 93,000 shares during the quarter. APG Asset Management N.V. owned 0.15% of PulteGroup worth $12,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in the business. Meeder Asset Management Inc. lifted its position in PulteGroup by 95.3% during the third quarter. Meeder Asset Management Inc. now owns 90,504 shares of the construction company’s stock valued at $2,473,000 after purchasing an additional 44,169 shares during the last quarter. PGGM Investments lifted its position in PulteGroup by 2.3% during the third quarter. PGGM Investments now owns 184,400 shares of the construction company’s stock valued at $5,040,000 after purchasing an additional 4,130 shares during the last quarter. Shell Asset Management Co. lifted its position in PulteGroup by 299.2% during the third quarter. Shell Asset Management Co. now owns 63,323 shares of the construction company’s stock valued at $1,118,000 after purchasing an additional 47,461 shares during the last quarter. Achmea Investment Management B.V. bought a new stake in PulteGroup during the second quarter valued at approximately $253,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in PulteGroup during the second quarter valued at approximately $564,000. Institutional investors and hedge funds own 85.39% of the company’s stock.
PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 24th. The construction company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.30 billion. PulteGroup had a return on equity of 14.38% and a net margin of 7.77%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 EPS.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 19th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, September 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.19%. PulteGroup’s dividend payout ratio is currently 17.91%.
Several equities research analysts have issued reports on PHM shares. UBS AG started coverage on shares of PulteGroup in a research report on Wednesday, October 25th. They set a “buy” rating and a $38.00 target price for the company. Zacks Investment Research lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. FBR & Co reiterated an “outperform” rating and set a $28.00 target price (up from $26.00) on shares of PulteGroup in a research report on Wednesday, July 26th. Citigroup Inc. lowered shares of PulteGroup from a “neutral” rating to a “sell” rating and set a $26.00 target price for the company. in a research report on Friday, October 20th. Finally, MKM Partners reiterated a “neutral” rating on shares of PulteGroup in a research report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.67.
In related news, insider James R. Ellinghausen sold 136,912 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $29.70, for a total value of $4,066,286.40. Following the completion of the sale, the insider now directly owns 294,369 shares in the company, valued at $8,742,759.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.71% of the stock is currently owned by corporate insiders.
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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