Amalgamated Bank Has $4.13 Million Position in PulteGroup, Inc. $PHM

Amalgamated Bank reduced its position in shares of PulteGroup, Inc. (NYSE:PHM) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,136 shares of the construction company’s stock after selling 1,138 shares during the quarter. Amalgamated Bank’s holdings in PulteGroup were worth $4,127,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PHM. Nuveen LLC acquired a new stake in PulteGroup during the 1st quarter valued at $213,092,000. Pacer Advisors Inc. raised its stake in PulteGroup by 2,586.8% during the 1st quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company’s stock valued at $119,958,000 after purchasing an additional 1,123,471 shares during the period. JPMorgan Chase & Co. raised its stake in PulteGroup by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company’s stock valued at $358,395,000 after purchasing an additional 1,001,290 shares during the period. AustralianSuper Pty Ltd raised its stake in PulteGroup by 219.2% during the 1st quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company’s stock valued at $106,820,000 after purchasing an additional 713,534 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in PulteGroup during the 1st quarter valued at $53,262,000. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Trading Up 0.9%

Shares of NYSE:PHM opened at $120.06 on Monday. The stock has a market capitalization of $23.40 billion, a PE ratio of 9.24, a P/E/G ratio of 0.95 and a beta of 1.29. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $142.11. The firm has a fifty day moving average price of $129.46 and a 200 day moving average price of $115.73. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.10. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same period in the prior year, the company earned $3.35 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, September 16th. PulteGroup’s dividend payout ratio is 6.77%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Raymond James Financial reissued an “outperform” rating and set a $140.00 target price (up from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price target on shares of PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. UBS Group boosted their price target on shares of PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Weiss Ratings upgraded shares of PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Finally, Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.67.

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.