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

Assenagon Asset Management S.A. trimmed its position in PulteGroup, Inc. (NYSE:PHM) by 16.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,068 shares of the construction company’s stock after selling 7,535 shares during the period. Assenagon Asset Management S.A.’s holdings in PulteGroup were worth $4,255,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PHM. Fortitude Family Office LLC lifted its holdings in shares of PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after purchasing an additional 99 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of PulteGroup in the 3rd quarter worth $29,000. JNBA Financial Advisors acquired a new stake in shares of PulteGroup in the 3rd quarter worth $43,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of PulteGroup by 1,059.3% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock worth $45,000 after purchasing an additional 286 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in shares of PulteGroup by 18.4% in the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock worth $66,000 after purchasing an additional 72 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

NYSE PHM opened at $117.11 on Tuesday. The stock has a 50-day simple moving average of $120.34 and a two-hundred day simple moving average of $127.17. The firm has a market capitalization of $24.02 billion, a P/E ratio of 8.64, a PEG ratio of 0.43 and a beta of 1.67. PulteGroup, Inc. has a fifty-two week low of $100.24 and a fifty-two week high of $149.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same quarter last year, the business posted $2.90 EPS. The company’s revenue was up 11.8% on a year-over-year basis. On average, equities analysts forecast that PulteGroup, Inc. will post 12.96 earnings per share for the current year.

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is currently 6.49%.

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of recent analyst reports. Wedbush raised PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a research report on Friday, January 3rd. BTIG Research raised their price objective on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group lowered their price objective on PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. StockNews.com lowered PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. reduced their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.14.

PulteGroup 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.