Parallel Advisors LLC Cuts Position in PulteGroup, Inc. $PHM

Parallel Advisors LLC trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 10.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,006 shares of the construction company’s stock after selling 352 shares during the quarter. Parallel Advisors LLC’s holdings in PulteGroup were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Merit Financial Group LLC grew its stake in PulteGroup by 20.5% during the 1st quarter. Merit Financial Group LLC now owns 15,388 shares of the construction company’s stock worth $1,582,000 after buying an additional 2,613 shares during the last quarter. Vest Financial LLC grew its stake in PulteGroup by 1,311.3% during the 1st quarter. Vest Financial LLC now owns 312,723 shares of the construction company’s stock valued at $32,148,000 after purchasing an additional 290,564 shares during the last quarter. Hudson Capital Management LLC increased its holdings in shares of PulteGroup by 8.6% in the first quarter. Hudson Capital Management LLC now owns 41,305 shares of the construction company’s stock valued at $4,246,000 after purchasing an additional 3,266 shares during the period. NBC Securities Inc. raised its stake in shares of PulteGroup by 103,800.0% in the first quarter. NBC Securities Inc. now owns 5,195 shares of the construction company’s stock worth $534,000 after purchasing an additional 5,190 shares during the last quarter. Finally, Reyes Financial Architecture Inc. raised its stake in shares of PulteGroup by 42.1% in the first quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company’s stock worth $79,000 after purchasing an additional 228 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Price Performance

NYSE:PHM opened at $131.95 on Friday. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $26.03 billion, a PE ratio of 9.86, a P/E/G ratio of 0.39 and a beta of 1.27. The stock has a 50 day moving average price of $125.53 and a 200 day moving average price of $110.34.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.11. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period in the prior year, the business posted $3.83 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. PulteGroup’s dividend payout ratio (DPR) is currently 6.58%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. UBS Group raised their price objective on PulteGroup from $141.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Seaport Res Ptn upgraded PulteGroup from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company boosted their price objective on PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $136.46.

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.