US Bancorp DE Reduces Holdings in PulteGroup, Inc. $PHM

US Bancorp DE lessened its position in shares of PulteGroup, Inc. (NYSE:PHM) by 13.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,563 shares of the construction company’s stock after selling 3,234 shares during the period. US Bancorp DE’s holdings in PulteGroup were worth $2,169,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PHM. GAMMA Investing LLC lifted its position in shares of PulteGroup by 38.9% during the 1st quarter. GAMMA Investing LLC now owns 3,043 shares of the construction company’s stock valued at $313,000 after buying an additional 853 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new position in shares of PulteGroup during the 1st quarter valued at $237,000. Sowell Financial Services LLC purchased a new position in shares of PulteGroup during the 1st quarter valued at $604,000. Sagespring Wealth Partners LLC lifted its position in shares of PulteGroup by 40.0% during the 1st quarter. Sagespring Wealth Partners LLC now owns 2,884 shares of the construction company’s stock valued at $296,000 after buying an additional 824 shares during the last quarter. Finally, Grove Bank & Trust lifted its holdings in PulteGroup by 46.2% during the 1st quarter. Grove Bank & Trust now owns 760 shares of the construction company’s stock worth $78,000 after purchasing an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of NYSE PHM opened at $124.73 on Thursday. 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 firm has a market capitalization of $24.61 billion, a P/E ratio of 9.32, a P/E/G ratio of 0.37 and a beta of 1.29. The stock’s 50-day simple moving average is $130.70 and its two-hundred day simple moving average is $113.33. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 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 company’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.83 EPS. As a group, equities analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $150.00 price objective on shares of PulteGroup in a report on Wednesday, August 13th. Royal Bank Of Canada increased their price objective on PulteGroup from $109.00 to $112.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 23rd. Citigroup increased their price objective on PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, October 1st. Raymond James Financial reissued an “outperform” rating and set a $140.00 price objective (up previously from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Finally, Bank of America dropped their price objective on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, October 10th. One equities 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $136.92.

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.