Contravisory Investment Management Inc. Acquires New Stake in PulteGroup, Inc. (PHM)
Contravisory Investment Management Inc. acquired a new stake in shares of PulteGroup, Inc. (NYSE:PHM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,128 shares of the construction company’s stock, valued at approximately $304,000.
Other large investors have also bought and sold shares of the company. Achmea Investment Management B.V. purchased a new stake in PulteGroup during the second quarter valued at about $253,000. Capital Bank & Trust Co lifted its stake in PulteGroup by 424.5% during the third quarter. Capital Bank & Trust Co now owns 120,859 shares of the construction company’s stock valued at $3,303,000 after buying an additional 97,818 shares in the last quarter. Andra AP fonden lifted its stake in PulteGroup by 11.5% during the third quarter. Andra AP fonden now owns 126,600 shares of the construction company’s stock valued at $3,460,000 after buying an additional 13,100 shares in the last quarter. AHL Partners LLP purchased a new stake in PulteGroup during the second quarter valued at about $2,556,000. Finally, Dupont Capital Management Corp lifted its stake in PulteGroup by 48.2% during the third quarter. Dupont Capital Management Corp now owns 191,275 shares of the construction company’s stock valued at $5,228,000 after buying an additional 62,178 shares in the last quarter. Institutional investors own 84.53% of the company’s stock.
A number of analysts have commented on PHM shares. UBS Group upped their price objective on shares of PulteGroup from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research raised shares of PulteGroup from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Tuesday, September 26th. Citigroup lowered shares of PulteGroup from a “neutral” rating to a “sell” rating and set a $26.00 price objective for the company. in a research note on Friday, October 20th. Bank of America set a $34.00 price target on shares of PulteGroup and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Finally, Buckingham Research lowered shares of PulteGroup from a “buy” rating to a “neutral” rating and increased their price target for the stock from $31.00 to $33.00 in a research report on Sunday, November 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $32.15.
PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, October 24th. The construction company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.01. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.30 billion. PulteGroup had a net margin of 7.77% and a return on equity of 14.38%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 earnings per share. research analysts anticipate that PulteGroup, Inc. will post 2.2 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Tuesday, December 12th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Monday, December 11th. PulteGroup’s payout ratio is presently 17.65%.
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 shares were sold at an average price of $32.35, for a total transaction of $2,183,301.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Oshaughnessy sold 92,800 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $33.89, for a total transaction of $3,144,992.00. Following the transaction, the chief financial officer now directly 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 ninety days, insiders have sold 297,202 shares of company stock worth $9,394,580. Insiders own 0.71% of the company’s stock.
PulteGroup Company Profile
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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