Darwin Wealth Management LLC Cuts Stock Position in PulteGroup, Inc. $PHM

Darwin Wealth Management LLC reduced its stake in PulteGroup, Inc. (NYSE:PHM) by 97.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 265 shares of the construction company’s stock after selling 9,866 shares during the period. Darwin Wealth Management LLC’s holdings in PulteGroup were worth $35,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in PulteGroup in the second quarter valued at approximately $404,339,000. First Trust Advisors LP grew its stake in shares of PulteGroup by 27.2% during the second quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock valued at $337,462,000 after acquiring an additional 683,728 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of PulteGroup during the first quarter worth about $53,262,000. American Century Companies Inc. grew its stake in PulteGroup by 143.8% during the 2nd quarter. American Century Companies Inc. now owns 772,762 shares of the construction company’s stock valued at $81,496,000 after purchasing an additional 455,754 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in PulteGroup by 1,248.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 435,580 shares of the construction company’s stock valued at $45,936,000 after purchasing an additional 403,281 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $119.17 on Friday. The stock’s 50 day moving average price is $121.63 and its 200 day moving average price is $121.37. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 0.96 and a beta of 1.31. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $142.11.

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

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, December 16th. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s payout ratio is presently 8.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Barclays set a $115.00 price objective on shares of PulteGroup in a research note on Monday, December 8th. Bank of America dropped their price target on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, October 10th. Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of PulteGroup in a report on Tuesday, October 21st. Wells Fargo & Company boosted their price objective on PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Evercore ISI reduced their price target on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.25.

PulteGroup Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.