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Assenagon Asset Management S.A. Reduces Stake in PulteGroup, Inc. (NYSE:PHM)

PulteGroup logo with Construction background

Assenagon Asset Management S.A. lessened its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,299 shares of the construction company's stock after selling 6,769 shares during the period. Assenagon Asset Management S.A.'s holdings in PulteGroup were worth $3,320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Ameriflex Group Inc. purchased a new position in PulteGroup during the fourth quarter worth about $37,000. TD Waterhouse Canada Inc. raised its position in shares of PulteGroup by 43.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock valued at $38,000 after buying an additional 105 shares during the period. American National Bank & Trust acquired a new position in PulteGroup in the first quarter valued at approximately $39,000. Quarry LP acquired a new position in PulteGroup in the fourth quarter valued at approximately $43,000. Finally, Sentry Investment Management LLC purchased a new position in PulteGroup in the first quarter worth approximately $61,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

PulteGroup Stock Up 0.4%

PHM traded up $0.38 on Thursday, hitting $99.10. 1,913,334 shares of the company were exchanged, compared to its average volume of 2,018,417. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market cap of $19.86 billion, a price-to-earnings ratio of 6.99, a price-to-earnings-growth ratio of 0.29 and a beta of 1.29. The firm has a 50-day moving average price of $100.33 and a two-hundred day moving average price of $106.36. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.10. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. PulteGroup had a return on equity of 22.86% and a net margin of 16.45%. During the same period in the previous year, the company posted $3.10 earnings per share. On average, equities analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Tuesday, June 17th. PulteGroup's dividend payout ratio is presently 6.21%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Evercore ISI upped their price target on PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada dropped their price target on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Wedbush restated an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a report on Tuesday, April 22nd. Wells Fargo & Company lowered their price objective on shares of PulteGroup from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, UBS Group cut their target price on PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $134.69.

Get Our Latest Report on PulteGroup

About PulteGroup

(Free Report)

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.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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