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

Apollon Wealth Management LLC trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 1.1% during the third quarter, Holdings Channel.com reports. The fund owned 8,737 shares of the construction company’s stock after selling 100 shares during the period. Apollon Wealth Management LLC’s holdings in PulteGroup were worth $1,254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PHM. Jupiter Wealth Management LLC lifted its holdings in shares of PulteGroup by 6.1% during the 3rd quarter. Jupiter Wealth Management LLC now owns 13,602 shares of the construction company’s stock worth $1,952,000 after acquiring an additional 780 shares during the period. Tyler Stone Wealth Management increased its position in shares of PulteGroup by 115.6% in the 3rd quarter. Tyler Stone Wealth Management now owns 11,534 shares of the construction company’s stock worth $1,655,000 after purchasing an additional 6,184 shares during the last quarter. Baker Avenue Asset Management LP bought a new stake in PulteGroup in the third quarter valued at about $413,000. Colonial River Investments LLC bought a new stake in PulteGroup in the third quarter valued at about $433,000. Finally, Axxcess Wealth Management LLC grew its holdings in shares of PulteGroup by 100.3% during the third quarter. Axxcess Wealth Management LLC now owns 6,009 shares of the construction company’s stock valued at $862,000 after purchasing an additional 3,009 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Up 1.6 %

Shares of NYSE PHM opened at $129.48 on Friday. The firm has a market cap of $26.55 billion, a PE ratio of 9.55, a P/E/G ratio of 0.52 and a beta of 1.63. PulteGroup, Inc. has a 12-month low of $86.59 and a 12-month high of $149.47. The company’s fifty day simple moving average is $137.29 and its 200 day simple moving average is $125.14. 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 (NYSE:PHM) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same period in the prior year, the firm earned $2.90 earnings per share. PulteGroup’s revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.68%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio is currently 5.90%.

Insider Buying and Selling

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the completion of the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at approximately $12,043,420.09. This trade represents a 44.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the completion of the transaction, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. This represents a 29.58 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of research analyst reports. BTIG Research upped their target price on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI cut their target price on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research note on Tuesday, October 22nd. Raymond James upped their price objective on shares of PulteGroup from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Oppenheimer decreased their price target on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

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.