Bayview Asset Management LLC Sells 4,957 Shares of PulteGroup, Inc. $PHM

Bayview Asset Management LLC cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 34.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,330 shares of the construction company’s stock after selling 4,957 shares during the period. PulteGroup comprises about 0.4% of Bayview Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. Bayview Asset Management LLC’s holdings in PulteGroup were worth $984,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fidelis Capital Partners LLC grew its stake in shares of PulteGroup by 1.0% during the 2nd quarter. Fidelis Capital Partners LLC now owns 8,760 shares of the construction company’s stock valued at $924,000 after acquiring an additional 85 shares during the period. Cooper Financial Group lifted its holdings in PulteGroup by 1.4% during the second quarter. Cooper Financial Group now owns 6,697 shares of the construction company’s stock valued at $706,000 after purchasing an additional 92 shares in the last quarter. Tocqueville Asset Management L.P. boosted its position in shares of PulteGroup by 2.0% in the first quarter. Tocqueville Asset Management L.P. now owns 5,062 shares of the construction company’s stock worth $520,000 after purchasing an additional 100 shares during the period. Leavell Investment Management Inc. increased its stake in shares of PulteGroup by 4.7% in the second quarter. Leavell Investment Management Inc. now owns 2,260 shares of the construction company’s stock worth $239,000 after purchasing an additional 102 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of PulteGroup by 0.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,635 shares of the construction company’s stock worth $1,227,000 after purchasing an additional 103 shares in 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 research analysts recently weighed in on PHM shares. Bank of America lowered their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of PulteGroup in a report on Tuesday, November 25th. Wedbush restated an “outperform” rating and issued a $150.00 price objective on shares of PulteGroup in a research report on Tuesday, October 21st. Evercore ISI dropped their price objective on PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a research note on Wednesday, October 22nd. Finally, Citigroup increased their target price on PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average target price of $133.67.

PulteGroup Trading Down 0.3%

Shares of PulteGroup stock opened at $127.19 on Monday. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $142.11. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $123.56 and a 200-day moving average price of $118.32. The firm has a market cap of $24.79 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 0.95 and a beta of 1.25.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.31 billion. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.35 earnings per share. Equities research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s dividend payout ratio is currently 8.01%.

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.