PulteGroup, Inc. $PHM Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its holdings in PulteGroup, Inc. (NYSE:PHM) by 23.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,808 shares of the construction company’s stock after selling 13,590 shares during the period. Commonwealth Equity Services LLC’s holdings in PulteGroup were worth $5,788,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PHM. Focus Partners Wealth lifted its position in PulteGroup by 20.5% in the first quarter. Focus Partners Wealth now owns 12,517 shares of the construction company’s stock valued at $1,287,000 after buying an additional 2,128 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of PulteGroup by 0.3% in the 1st quarter. Voya Investment Management LLC now owns 62,529 shares of the construction company’s stock worth $6,428,000 after acquiring an additional 210 shares during the last quarter. Czech National Bank boosted its position in shares of PulteGroup by 5.4% during the 2nd quarter. Czech National Bank now owns 48,991 shares of the construction company’s stock worth $5,167,000 after purchasing an additional 2,490 shares during the period. Aaron Wealth Advisors LLC increased its holdings in PulteGroup by 8.4% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 3,633 shares of the construction company’s stock valued at $383,000 after purchasing an additional 281 shares during the last quarter. Finally, Channel Wealth LLC purchased a new stake in PulteGroup in the second quarter valued at approximately $2,246,000. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Stock Down 2.1%

Shares of PulteGroup stock opened at $130.80 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $142.11. The company has a market capitalization of $25.49 billion, a P/E ratio of 10.07, a P/E/G ratio of 1.08 and a beta of 1.33. The company has a 50 day moving average of $122.38 and a 200 day moving average of $123.36.

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

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th were issued a dividend of $0.26 per share. This is a positive change from PulteGroup’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. PulteGroup’s dividend payout ratio (DPR) is presently 8.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PHM. Citizens Jmp initiated coverage on PulteGroup in a research note on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 price objective for the company. Evercore ISI cut their price target 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. Barclays set a $115.00 price objective on shares of PulteGroup in a research note on Monday, December 8th. The Goldman Sachs Group reiterated a “neutral” rating and set a $144.00 target price on shares of PulteGroup in a report on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of PulteGroup in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.85.

About PulteGroup

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.