PulteGroup, Inc. $PHM Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC cut its holdings in PulteGroup, Inc. (NYSE:PHM) by 69.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,416 shares of the construction company’s stock after selling 7,669 shares during the quarter. Exchange Traded Concepts LLC’s holdings in PulteGroup were worth $451,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. WPG Advisers LLC acquired a new stake in PulteGroup during the first quarter valued at approximately $25,000. Evergreen Capital Management LLC acquired a new stake in shares of PulteGroup during the 1st quarter valued at $288,000. Vident Advisory LLC boosted its stake in shares of PulteGroup by 45.6% during the 1st quarter. Vident Advisory LLC now owns 23,181 shares of the construction company’s stock worth $2,383,000 after acquiring an additional 7,265 shares in the last quarter. Nomura Holdings Inc. grew its holdings in shares of PulteGroup by 670.8% in the 1st quarter. Nomura Holdings Inc. now owns 6,390 shares of the construction company’s stock worth $657,000 after acquiring an additional 5,561 shares during the last quarter. Finally, Quarry LP raised its position in shares of PulteGroup by 43.8% during the first quarter. Quarry LP now owns 571 shares of the construction company’s stock worth $59,000 after purchasing an additional 174 shares during the period. Institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PHM shares. Weiss Ratings lowered PulteGroup from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Bank of America dropped their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, October 10th. Wedbush restated an “outperform” rating and set a $150.00 price target on shares of PulteGroup in a report on Tuesday, October 21st. Citigroup raised their price objective on shares of PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. Finally, Evercore ISI cut their target price on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and a consensus price target of $137.25.

PulteGroup Stock Down 0.5%

PulteGroup stock opened at $118.11 on Wednesday. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $142.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $23.02 billion, a PE ratio of 9.09, a P/E/G ratio of 0.95 and a beta of 1.31. The firm’s 50 day moving average price is $121.44 and its two-hundred day moving average price is $121.83.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.86 by $0.10. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same period in the previous year, the company posted $3.35 EPS. PulteGroup’s revenue was down 1.6% on a year-over-year basis. On average, research analysts predict 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. Shareholders of record on Tuesday, December 16th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, December 16th. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s payout ratio is currently 8.01%.

PulteGroup Company 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.