Janney Montgomery Scott LLC Raises Position in PulteGroup, Inc. (PHM)
Janney Montgomery Scott LLC increased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 17.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,428 shares of the construction company’s stock after purchasing an additional 3,691 shares during the quarter. Janney Montgomery Scott LLC’s holdings in PulteGroup were worth $668,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Achmea Investment Management B.V. purchased a new stake in PulteGroup in the 2nd quarter valued at $253,000. Peloton Wealth Strategists grew its holdings in PulteGroup by 4.7% in the 2nd quarter. Peloton Wealth Strategists now owns 89,700 shares of the construction company’s stock valued at $2,200,000 after buying an additional 4,000 shares in the last quarter. Aviva PLC grew its holdings in PulteGroup by 9.5% in the 2nd quarter. Aviva PLC now owns 179,277 shares of the construction company’s stock valued at $4,399,000 after buying an additional 15,540 shares in the last quarter. Mirador Capital Partners LP grew its holdings in PulteGroup by 3.7% in the 2nd quarter. Mirador Capital Partners LP now owns 48,655 shares of the construction company’s stock valued at $1,246,000 after buying an additional 1,728 shares in the last quarter. Finally, HAP Trading LLC grew its holdings in PulteGroup by 26.7% in the 2nd quarter. HAP Trading LLC now owns 96,520 shares of the construction company’s stock valued at $2,368,000 after buying an additional 20,336 shares in the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.
Several brokerages have recently commented on PHM. Buckingham Research lowered PulteGroup from a “buy” rating to a “neutral” rating and upped their price target for the company from $31.00 to $33.00 in a research note on Sunday, November 26th. KeyCorp reaffirmed a “hold” rating on shares of PulteGroup in a research note on Wednesday, November 1st. B. Riley reaffirmed a “buy” rating on shares of PulteGroup in a research note on Wednesday, November 1st. Zacks Investment Research lowered PulteGroup from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Finally, Barclays set a $26.00 price target on PulteGroup and gave the company a “hold” rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. PulteGroup has an average rating of “Hold” and an average price target of $29.92.
PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, October 24th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. PulteGroup had a return on equity of 14.38% and a net margin of 7.77%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the prior year, the company earned $0.43 EPS. PulteGroup’s revenue was up 9.6% on a year-over-year basis. analysts forecast that PulteGroup, Inc. will post 2.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Tuesday, December 12th will be issued a dividend of $0.09 per share. The ex-dividend date is Monday, December 11th. This represents a $0.36 annualized dividend and a yield of 1.08%. PulteGroup’s dividend payout ratio (DPR) is 17.91%.
In related news, insider James R. Ellinghausen sold 67,490 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $32.35, for a total transaction of $2,183,301.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Robert Oshaughnessy sold 92,800 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $33.89, for a total value of $3,144,992.00. Following the transaction, the chief financial officer now owns 363,722 shares in the company, valued at approximately $12,326,538.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 297,202 shares of company stock worth $9,394,580. 0.71% of the stock is owned by company insiders.
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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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