Shell Asset Management Co. Boosts Position in PulteGroup, Inc. (NYSE:PHM)

Shell Asset Management Co. grew its position in PulteGroup, Inc. (NYSE:PHM) by 135.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 8,932 shares of the construction company’s stock after purchasing an additional 5,140 shares during the period. Shell Asset Management Co.’s holdings in PulteGroup were worth $1,077,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PHM. Burns Matteson Capital Management LLC purchased a new position in PulteGroup during the 1st quarter valued at about $420,000. Pitcairn Co. increased its stake in shares of PulteGroup by 12.7% during the 1st quarter. Pitcairn Co. now owns 7,177 shares of the construction company’s stock worth $866,000 after purchasing an additional 809 shares in the last quarter. Lake Street Advisors Group LLC acquired a new position in shares of PulteGroup during the 1st quarter worth approximately $245,000. Bessemer Group Inc. lifted its stake in PulteGroup by 108.6% in the 1st quarter. Bessemer Group Inc. now owns 16,430 shares of the construction company’s stock valued at $1,981,000 after buying an additional 8,555 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its holdings in PulteGroup by 377.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 10,925 shares of the construction company’s stock valued at $1,318,000 after buying an additional 8,635 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Bank of America boosted their price target on PulteGroup from $135.00 to $138.00 and gave the stock a “buy” rating in a report on Monday. Barclays raised their price target on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday. Oppenheimer boosted their price objective on shares of PulteGroup from $143.00 to $151.00 and gave the company an “outperform” rating in a research report on Wednesday. Raymond James upped their price target on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Zelman & Associates raised PulteGroup from a “neutral” rating to an “outperform” rating in a research report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.93.

PulteGroup Stock Up 3.1 %

Shares of NYSE PHM traded up $3.89 during trading on Friday, reaching $128.89. 587,246 shares of the stock were exchanged, compared to its average volume of 1,834,794. The company has a market capitalization of $26.75 billion, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 0.52 and a beta of 1.61. The business’s 50-day moving average price is $114.10 and its 200 day moving average price is $111.32. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 0.15. PulteGroup, Inc. has a twelve month low of $68.80 and a twelve month high of $130.90.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.00 EPS. As a group, equities analysts forecast that PulteGroup, Inc. will post 12.68 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 18th. This represents a $0.80 annualized dividend and a yield of 0.62%. PulteGroup’s dividend payout ratio is presently 6.41%.

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.