Assenagon Asset Management S.A. Lowers Position in PulteGroup, Inc. (NYSE:PHM)

Assenagon Asset Management S.A. lessened its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 17.3% in the first 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 quarter. 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 hedge funds also recently made changes to their positions in PHM. Ameriflex Group Inc. bought a new stake in shares of PulteGroup during the 4th quarter valued at $37,000. TD Waterhouse Canada Inc. boosted its stake in PulteGroup by 43.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock worth $38,000 after acquiring an additional 105 shares in the last quarter. American National Bank & Trust bought a new position in shares of PulteGroup during the first quarter valued at approximately $39,000. Quarry LP purchased a new position in shares of PulteGroup during the fourth quarter valued at approximately $43,000. Finally, Sentry Investment Management LLC bought a new position in PulteGroup during the 1st quarter valued at approximately $61,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

PulteGroup stock traded up $0.78 during mid-day trading on Monday, reaching $102.39. 1,739,625 shares of the stock traded hands, compared to its average volume of 2,015,854. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The business's 50-day moving average is $100.04 and its 200-day moving average is $106.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $20.52 billion, a PE ratio of 6.96, a price-to-earnings-growth ratio of 0.29 and a beta of 1.29.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.47 by $0.10. PulteGroup had a return on equity of 24.43% and a net margin of 17.18%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the previous year, the company posted $3.10 EPS. As a group, sell-side analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.86%. PulteGroup's dividend payout ratio is currently 6.21%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PHM. Seaport Res Ptn raised PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Wedbush reissued an "outperform" rating and set a $135.00 price objective on shares of PulteGroup in a research report on Tuesday, April 22nd. Evercore ISI lifted their target price on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 23rd. UBS Group dropped their target price on shares of PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Barclays reduced their price target on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $134.69.

PulteGroup Company 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.