PulteGroup, Inc. (NYSE:PHM) Shares Sold by Accurate Wealth Management LLC

Accurate Wealth Management LLC cut its stake in PulteGroup, Inc. (NYSE:PHM) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,632 shares of the construction company’s stock after selling 295 shares during the period. Accurate Wealth Management LLC’s holdings in PulteGroup were worth $283,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Logan Capital Management Inc. increased its position in shares of PulteGroup by 67.7% during the 3rd quarter. Logan Capital Management Inc. now owns 14,797 shares of the construction company’s stock valued at $2,124,000 after purchasing an additional 5,976 shares during the period. Sanctuary Advisors LLC grew its holdings in PulteGroup by 38.1% during the third quarter. Sanctuary Advisors LLC now owns 121,299 shares of the construction company’s stock worth $17,410,000 after acquiring an additional 33,472 shares during the period. Trustmark National Bank Trust Department raised its position in PulteGroup by 39.8% in the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock worth $5,682,000 after acquiring an additional 11,269 shares in the last quarter. Systematic Financial Management LP raised its position in PulteGroup by 3.9% in the third quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock worth $18,696,000 after acquiring an additional 4,840 shares in the last quarter. Finally, New Millennium Group LLC boosted its position in shares of PulteGroup by 10,625.8% during the 3rd quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock valued at $1,370,000 after purchasing an additional 9,457 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

PHM stock opened at $116.95 on Friday. The firm has a 50 day simple moving average of $120.93 and a 200 day simple moving average of $126.85. PulteGroup, Inc. has a 52 week low of $100.24 and a 52 week high of $149.47. The stock has a market cap of $23.98 billion, a P/E ratio of 8.62, a P/E/G ratio of 0.43 and a beta of 1.67. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same quarter last year, the business posted $2.90 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts anticipate that PulteGroup, Inc. will post 12.96 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were paid a $0.22 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.75%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is 6.49%.

Analyst Ratings Changes

A number of research firms recently commented on PHM. Barclays dropped their target price on shares of PulteGroup from $140.00 to $125.00 and set an “equal weight” rating on the stock in a report on Thursday. BTIG Research upped their price target on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. JPMorgan Chase & Co. cut their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Finally, Wedbush upgraded PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price target for the company in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.14.

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.