PulteGroup, Inc. (NYSE:PHM) Shares Bought by Shell Asset Management Co.

Shell Asset Management Co. grew its holdings in PulteGroup, Inc. (NYSE:PHM) by 135.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,932 shares of the construction company’s stock after acquiring an additional 5,140 shares during the quarter. Shell Asset Management Co.’s holdings in PulteGroup were worth $1,077,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of PulteGroup in the 1st quarter valued at $26,000. Benjamin Edwards Inc. acquired a new position in shares of PulteGroup in the first quarter valued at about $26,000. Rakuten Securities Inc. purchased a new position in shares of PulteGroup in the fourth quarter worth about $37,000. Lindbrook Capital LLC lifted its holdings in shares of PulteGroup by 335.6% during the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after purchasing an additional 292 shares during the period. Finally, ORG Partners LLC boosted its position in PulteGroup by 3,463.6% in the fourth quarter. ORG Partners LLC now owns 392 shares of the construction company’s stock valued at $40,000 after buying an additional 381 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

PHM traded up $3.89 during midday trading on Friday, hitting $128.89. 587,246 shares of the company traded hands, compared to its average volume of 1,834,794. The business has a 50 day simple moving average of $114.10 and a two-hundred day simple moving average of $111.32. PulteGroup, Inc. has a 52-week low of $68.80 and a 52-week high of $130.90. The company has a market capitalization of $26.75 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.52 and a beta of 1.61. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.56. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. During the same quarter in the prior year, the firm earned $3.00 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts forecast that PulteGroup, Inc. will post 12.68 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Tuesday, June 18th. PulteGroup’s payout ratio is 6.41%.

Analyst Ratings Changes

A number of research firms have issued reports on PHM. Bank of America raised their price target on shares of PulteGroup from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Monday. Jefferies Financial Group raised their target price on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Oppenheimer upped their price target on shares of PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Wedbush restated a “neutral” rating and issued a $115.00 target price (up previously from $105.00) on shares of PulteGroup in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $129.93.

PulteGroup Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, John Wieland Homes and Neighborhoods, and American West brand names.