Huntington National Bank Sells 825 Shares of PulteGroup, Inc. $PHM

Huntington National Bank lowered its stake in PulteGroup, Inc. (NYSE:PHM) by 5.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,806 shares of the construction company’s stock after selling 825 shares during the period. Huntington National Bank’s holdings in PulteGroup were worth $1,456,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WPG Advisers LLC bought a new stake in PulteGroup in the first quarter valued at approximately $25,000. Hager Investment Management Services LLC raised its holdings in shares of PulteGroup by 33.3% during the second quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock valued at $44,000 after acquiring an additional 105 shares in the last quarter. REAP Financial Group LLC raised its holdings in shares of PulteGroup by 188.1% during the second quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock valued at $56,000 after acquiring an additional 348 shares in the last quarter. Quarry LP raised its holdings in shares of PulteGroup by 43.8% during the first quarter. Quarry LP now owns 571 shares of the construction company’s stock valued at $59,000 after acquiring an additional 174 shares in the last quarter. Finally, Reyes Financial Architecture Inc. raised its holdings in shares of PulteGroup by 42.1% during the first quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company’s stock valued at $79,000 after acquiring an additional 228 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

PHM has been the subject of a number of recent analyst reports. Evercore ISI decreased their target price on PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a report on Wednesday, October 22nd. Raymond James Financial restated an “outperform” rating and set a $140.00 target price (up previously from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Wedbush restated an “outperform” rating and set a $150.00 target price on shares of PulteGroup in a report on Tuesday, October 21st. Wells Fargo & Company upped their target price on PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Finally, Bank of America decreased their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $133.67.

PulteGroup Price Performance

PHM opened at $119.44 on Thursday. The stock has a fifty day simple moving average of $128.72 and a two-hundred day simple moving average of $116.09. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. The company has a market cap of $23.28 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 0.95 and a beta of 1.29. 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 earnings per share (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 business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the prior year, the company earned $3.35 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup’s dividend payout ratio is currently 6.77%.

About PulteGroup

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.