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

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.

About PulteGroup

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.