Tocqueville Asset Management L.P. Raises Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Tocqueville Asset Management L.P. raised its position in shares of PulteGroup, Inc. (NYSE:PHM) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,092 shares of the construction company’s stock after buying an additional 101 shares during the period. Tocqueville Asset Management L.P.’s holdings in PulteGroup were worth $614,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of PulteGroup during the fourth quarter worth about $381,960,000. Pacer Advisors Inc. raised its position in PulteGroup by 54.6% during the 4th quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company’s stock valued at $310,043,000 after purchasing an additional 1,060,466 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in PulteGroup by 38.3% in the 4th quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock worth $195,316,000 after buying an additional 523,623 shares during the period. Janney Montgomery Scott LLC lifted its holdings in PulteGroup by 130.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 388,298 shares of the construction company’s stock worth $46,837,000 after buying an additional 219,609 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of PulteGroup by 40.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock worth $88,511,000 after buying an additional 212,837 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on PHM shares. Raymond James reaffirmed an “outperform” rating and issued a $135.00 price target (up previously from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. StockNews.com upgraded shares of PulteGroup from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Barclays lowered their price objective on shares of PulteGroup from $136.00 to $131.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Royal Bank of Canada lifted their price objective on PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 24th. Finally, Citigroup decreased their target price on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.00.

PulteGroup Stock Down 0.0 %

Shares of PHM traded down $0.04 during trading hours on Friday, hitting $124.76. The company had a trading volume of 2,098,768 shares, compared to its average volume of 2,045,855. The stock has a market capitalization of $26.24 billion, a price-to-earnings ratio of 9.99, a P/E/G ratio of 0.56 and a beta of 1.61. The firm has a fifty day moving average price of $113.58 and a 200-day moving average price of $110.72. PulteGroup, Inc. has a 52-week low of $68.80 and a 52-week high of $129.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, April 23rd. The construction company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.51. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.59 billion. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.64 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Tuesday, June 18th. PulteGroup’s dividend payout ratio is currently 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.