PulteGroup, Inc. (NYSE:PHM) Stock Holdings Lowered by Toronto Dominion Bank

Toronto Dominion Bank reduced its holdings in PulteGroup, Inc. (NYSE:PHM) by 14.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,019 shares of the construction company’s stock after selling 20,953 shares during the quarter. Toronto Dominion Bank owned 0.06% of PulteGroup worth $14,718,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PHM. Norges Bank bought a new position in shares of PulteGroup in the fourth quarter valued at $381,960,000. Allianz Asset Management GmbH increased its stake in shares of PulteGroup by 38.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock worth $195,316,000 after purchasing an additional 523,623 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of PulteGroup by 130.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock worth $46,837,000 after purchasing an additional 219,609 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of PulteGroup by 40.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock worth $88,511,000 after purchasing an additional 212,837 shares during the last quarter. Finally, Homestead Advisers Corp acquired a new position in PulteGroup during the fourth quarter worth $20,417,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

PHM traded up $5.02 on Friday, hitting $130.02. 2,541,358 shares of the stock traded hands, compared to its average volume of 1,848,459. The business has a fifty day moving average price of $114.31 and a two-hundred day moving average price of $111.50. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $26.98 billion, a PE ratio of 10.41, a P/E/G ratio of 0.52 and a beta of 1.61. PulteGroup, Inc. has a 52 week low of $68.80 and a 52 week high of $130.93.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.56. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. PulteGroup’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.00 earnings per share. On average, research analysts predict 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. Stockholders of record on Tuesday, June 18th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Tuesday, June 18th. PulteGroup’s payout ratio is 6.41%.

Analysts Set New Price Targets

PHM has been the subject of several recent analyst reports. Evercore ISI upped their price target on PulteGroup from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. BTIG Research boosted their target price on PulteGroup from $133.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup lowered their price target on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Barclays boosted their price objective on shares of PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $129.93.

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.