Advisors Asset Management Inc. cut its position in PulteGroup, Inc. (NYSE:PHM) by 15.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,603 shares of the construction company’s stock after selling 1,882 shares during the quarter. Advisors Asset Management Inc.’s holdings in PulteGroup were worth $305,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new stake in shares of PulteGroup during the 2nd quarter valued at $112,000. Raymond James Trust N.A. bought a new stake in shares of PulteGroup during the 2nd quarter valued at $232,000. Segall Bryant & Hamill LLC bought a new stake in shares of PulteGroup during the 2nd quarter valued at $232,000. GSA Capital Partners LLP bought a new stake in shares of PulteGroup during the 2nd quarter valued at $291,000. Finally, Dalton Greiner Hartman Maher & Co. bought a new stake in shares of PulteGroup during the 2nd quarter valued at $302,000. Institutional investors and hedge funds own 87.23% of the company’s stock.
Shares of PHM stock opened at $24.44 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.64. PulteGroup, Inc. has a twelve month low of $20.64 and a twelve month high of $35.21. The firm has a market cap of $6.99 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 0.39 and a beta of 0.92.
In related news, Director Brian P. Anderson sold 5,000 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $28.96, for a total transaction of $144,800.00. Following the completion of the sale, the director now directly owns 101,235 shares in the company, valued at approximately $2,931,765.60. The sale was disclosed in a filing with the SEC, which is available through this link. 0.86% of the stock is owned by corporate insiders.
A number of research firms have recently weighed in on PHM. BTIG Research downgraded PulteGroup from a “neutral” rating to a “sell” rating in a research report on Friday, July 27th. They noted that the move was a valuation call. Citigroup upped their target price on PulteGroup from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, July 23rd. Mizuho downgraded PulteGroup from a “buy” rating to a “neutral” rating and set a $31.00 target price for the company. in a research report on Tuesday, August 7th. Evercore ISI upgraded PulteGroup to an “outperform” rating and cut their target price for the company from $29.00 to $28.00 in a research report on Thursday, October 25th. They noted that the move was a valuation call. Finally, ValuEngine downgraded PulteGroup from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.13.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of 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 names.
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