Janney Montgomery Scott LLC Has $3.92 Million Holdings in PulteGroup, Inc. $PHM

Janney Montgomery Scott LLC cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,202 shares of the construction company’s stock after selling 1,862 shares during the period. Janney Montgomery Scott LLC’s holdings in PulteGroup were worth $3,923,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new position in PulteGroup in the first quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new position in PulteGroup in the first quarter valued at about $54,000. Quarry LP lifted its holdings in shares of PulteGroup by 43.8% in the first quarter. Quarry LP now owns 571 shares of the construction company’s stock valued at $59,000 after purchasing an additional 174 shares in the last quarter. Grove Bank & Trust lifted its holdings in shares of PulteGroup by 46.2% in the first quarter. Grove Bank & Trust now owns 760 shares of the construction company’s stock valued at $78,000 after purchasing an additional 240 shares in the last quarter. Finally, Reyes Financial Architecture Inc. lifted its holdings 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 valued at $79,000 after purchasing an additional 228 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup boosted their price target on PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, October 1st. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. UBS Group boosted their price target on PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Royal Bank Of Canada boosted their price target on PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a report on Wednesday, July 23rd. Finally, Seaport Res Ptn upgraded PulteGroup from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $136.46.

PulteGroup Price Performance

NYSE:PHM opened at $129.51 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $130.01 and its two-hundred day moving average price is $112.62. The firm has a market capitalization of $25.55 billion, a price-to-earnings ratio of 9.68, a P/E/G ratio of 0.40 and a beta of 1.29. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47.

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

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. PulteGroup’s dividend payout ratio is currently 6.58%.

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.