Rhumbline Advisers Sells 900 Shares of PulteGroup, Inc. $PHM

Rhumbline Advisers reduced its holdings in PulteGroup, Inc. (NYSE:PHM) by 0.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 431,441 shares of the construction company’s stock after selling 900 shares during the quarter. Rhumbline Advisers’ holdings in PulteGroup were worth $45,500,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PHM. HB Wealth Management LLC boosted its holdings in PulteGroup by 42.6% in the first quarter. HB Wealth Management LLC now owns 4,381 shares of the construction company’s stock valued at $450,000 after acquiring an additional 1,308 shares in the last quarter. Empirical Finance LLC lifted its position in shares of PulteGroup by 3.1% in the 1st quarter. Empirical Finance LLC now owns 7,956 shares of the construction company’s stock worth $818,000 after purchasing an additional 237 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PulteGroup by 26.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 433,815 shares of the construction company’s stock valued at $44,596,000 after purchasing an additional 89,976 shares in the last quarter. Inlet Private Wealth LLC boosted its stake in shares of PulteGroup by 2.6% during the 1st quarter. Inlet Private Wealth LLC now owns 15,135 shares of the construction company’s stock valued at $1,556,000 after purchasing an additional 385 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of PulteGroup by 2.0% during the first quarter. Mackenzie Financial Corp now owns 364,118 shares of the construction company’s stock valued at $37,431,000 after buying an additional 7,181 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PHM has been the subject of several research analyst reports. Evercore ISI lowered their price objective 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. Wells Fargo & Company increased their target price on PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Citigroup lifted their price target on PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of PulteGroup in a report on Wednesday, November 19th. Finally, Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and an average target price of $133.67.

PulteGroup Stock Performance

Shares of PHM opened at $119.21 on Tuesday. 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 stock has a market cap of $23.24 billion, a P/E ratio of 9.18, a P/E/G ratio of 0.95 and a beta of 1.25. The business’s 50 day moving average price is $124.08 and its 200-day moving average price is $117.68. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $142.11.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $4.31 billion. During the same quarter in the previous year, the business earned $3.35 earnings per share. The firm’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 business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be given a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s payout ratio is presently 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.