M&T Bank Corp Has $3.59 Million Position in PulteGroup, Inc. (NYSE:PHM)

M&T Bank Corp cut its position in shares of PulteGroup, Inc. (NYSE:PHM) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,016 shares of the construction company’s stock after selling 726 shares during the period. M&T Bank Corp’s holdings in PulteGroup were worth $3,590,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC increased its position in PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after buying an additional 4,571,757 shares during the last quarter. Greenhaven Associates Inc. increased its holdings in shares of PulteGroup by 0.3% during the 3rd quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after acquiring an additional 16,871 shares during the last quarter. Pacer Advisors Inc. raised its stake in PulteGroup by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after acquiring an additional 235,826 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in PulteGroup by 7.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock valued at $267,546,000 after purchasing an additional 135,391 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after purchasing an additional 250,937 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PHM shares. Evercore ISI dropped their price objective on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday. BTIG Research upped their target price on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Bank of America upped their price objective on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.29.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $120.69 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $24.75 billion, a PE ratio of 8.90, a PEG ratio of 0.50 and a beta of 1.62. The firm has a 50 day moving average of $133.94 and a 200-day moving average of $127.15. PulteGroup, Inc. has a 12 month low of $95.36 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the prior year, the company earned $2.90 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities research analysts predict that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, December 17th. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is currently 5.90%.

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.