Pathstone Holdings LLC Cuts Stake in PulteGroup, Inc. (NYSE:PHM)

Pathstone Holdings LLC decreased its position in PulteGroup, Inc. (NYSE:PHM) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,424 shares of the construction company’s stock after selling 2,365 shares during the period. Pathstone Holdings LLC’s holdings in PulteGroup were worth $7,956,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PHM. Lazard Asset Management LLC increased its position in PulteGroup by 1.1% during the 1st quarter. Lazard Asset Management LLC now owns 464,217 shares of the construction company’s stock worth $55,993,000 after purchasing an additional 5,022 shares during the period. Bessemer Group Inc. raised its position in PulteGroup by 108.6% in the first quarter. Bessemer Group Inc. now owns 16,430 shares of the construction company’s stock worth $1,981,000 after acquiring an additional 8,555 shares in the last quarter. Interval Partners LP acquired a new stake in PulteGroup in the first quarter valued at $1,206,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of PulteGroup during the 2nd quarter worth $629,000. Finally, Canada Pension Plan Investment Board grew its stake in shares of PulteGroup by 54.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 188,787 shares of the construction company’s stock worth $22,771,000 after purchasing an additional 66,487 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the transaction, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. This trade represents a 29.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.83% of the stock is currently owned by insiders.

PulteGroup Trading Up 0.3 %

Shares of PulteGroup stock opened at $128.49 on Friday. The firm has a market cap of $26.35 billion, a PE ratio of 9.48, a P/E/G ratio of 0.52 and a beta of 1.63. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a fifty-two week low of $86.59 and a fifty-two week high of $149.47. The business’s fifty day moving average is $136.94 and its two-hundred day moving average is $125.69.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same period last year, the company earned $2.90 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts anticipate that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be given a dividend of $0.22 per share. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.88 annualized dividend and a yield of 0.68%. PulteGroup’s dividend payout ratio is 5.90%.

Analyst Ratings Changes

A number of analysts recently commented on PHM shares. Wells Fargo & Company boosted their price objective on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Oppenheimer lowered their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on PulteGroup from $141.00 to $152.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. UBS Group raised their price target on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Evercore ISI decreased their price objective on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

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.