Amundi Sells 540,372 Shares of PulteGroup, Inc. $PHM

Key Points

• Amundi reduced its PulteGroup stake by 37.6%, selling 540,372 shares during the second quarter and retaining 898,136 shares worth approximately $123.2 million. Institutional investors collectively own 89.9% of PHM.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $142.20, compared with the stock’s reported opening price of $118.92.
• PulteGroup exceeded quarterly expectations with adjusted EPS of $2.48 versus the $2.36 consensus and revenue of $3.98 billion, while announcing a quarterly dividend of $0.26 per share.

Amundi lowered its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 37.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 898,136 shares of the construction company's stock after selling 540,372 shares during the quarter. Amundi owned approximately 0.48% of PulteGroup worth $123,233,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Focus Partners Wealth raised its position in PulteGroup by 20.5% in the 1st quarter. Focus Partners Wealth now owns 12,517 shares of the construction company's stock valued at $1,287,000 after purchasing an additional 2,128 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in PulteGroup by 197.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,212 shares of the construction company's stock worth $128,000 after buying an additional 804 shares in the last quarter. Guggenheim Capital LLC grew its holdings in PulteGroup by 12.9% during the 2nd quarter. Guggenheim Capital LLC now owns 8,519 shares of the construction company's stock worth $898,000 after acquiring an additional 975 shares during the last quarter. Baird Financial Group Inc. grew its holdings in PulteGroup by 8.0% during the 2nd quarter. Baird Financial Group Inc. now owns 29,060 shares of the construction company's stock worth $3,065,000 after acquiring an additional 2,164 shares during the last quarter. Finally, Cerity Partners LLC increased its position in PulteGroup by 17.6% in the 2nd quarter. Cerity Partners LLC now owns 41,677 shares of the construction company's stock valued at $4,395,000 after acquiring an additional 6,240 shares in the last quarter. 89.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on PHM. Royal Bank Of Canada boosted their target price on shares of PulteGroup from $115.00 to $116.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 23rd. Wells Fargo & Company increased their price target on shares of PulteGroup from $140.00 to $150.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. UBS Group reissued a "buy" rating and issued a $166.00 price target on shares of PulteGroup in a report on Thursday, July 23rd. Barclays boosted their price objective on shares of PulteGroup from $123.00 to $124.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of PulteGroup in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, PulteGroup presently has a consensus rating of "Moderate Buy" and an average target price of $142.20.

PulteGroup Price Performance

Shares of PHM opened at $118.92 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 1 year low of $108.49 and a 1 year high of $144.49. The stock has a market cap of $22.29 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 1.49 and a beta of 1.19. The stock's 50-day moving average price is $127.86 and its two-hundred day moving average price is $124.59.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.12. The company had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $3.94 billion. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.PulteGroup's revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.03 EPS. On average, equities analysts predict that PulteGroup, Inc. will post 10.12 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 15th. PulteGroup's dividend payout ratio is presently 10.62%.

About PulteGroup

PulteGroup, Inc is a U.S. homebuilding company that designs, constructs and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its residential offerings include single-family homes, townhomes and communities in a variety of price ranges and styles.

The company operates through several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West Homes. Its communities are located across numerous metropolitan areas and regions in the United States, with operations spanning markets in the South, Southeast, Southwest, Midwest and West.

PulteGroup also provides mortgage lending and related title services to support home purchases through its financial-services operations.

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