Team Hewins LLC Trims Position in PulteGroup, Inc. (NYSE:PHM)

Team Hewins LLC lessened its position in shares of PulteGroup, Inc. (NYSE:PHM) by 8.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,077 shares of the construction company’s stock after selling 293 shares during the quarter. Team Hewins LLC’s holdings in PulteGroup were worth $372,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PHM. Certuity LLC purchased a new stake in PulteGroup in the fourth quarter worth about $245,000. Nordea Investment Management AB increased its position in PulteGroup by 4.0% in the fourth quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock worth $78,030,000 after buying an additional 28,833 shares in the last quarter. Banque Cantonale Vaudoise increased its position in PulteGroup by 166.6% in the first quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock worth $1,586,000 after buying an additional 8,215 shares in the last quarter. Personal CFO Solutions LLC purchased a new stake in PulteGroup in the fourth quarter worth about $719,000. Finally, Truist Financial Corp increased its position in PulteGroup by 248.6% in the fourth quarter. Truist Financial Corp now owns 191,219 shares of the construction company’s stock worth $19,738,000 after buying an additional 136,370 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Up 6.4 %

PHM stock traded up $6.81 during midday trading on Thursday, reaching $113.96. 1,476,968 shares of the company traded hands, compared to its average volume of 1,770,911. PulteGroup, Inc. has a 52-week low of $68.80 and a 52-week high of $122.72. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. The business has a 50 day moving average of $113.05 and a 200-day moving average of $109.87. The firm has a market capitalization of $23.97 billion, a price-to-earnings ratio of 9.18, a P/E/G ratio of 0.47 and a beta of 1.61.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, April 23rd. The construction company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.36 by $0.51. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.59 billion. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. As a group, sell-side analysts expect that PulteGroup, Inc. will post 12.64 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.70%. PulteGroup’s payout ratio is 6.41%.

Analysts Set New Price Targets

A number of analysts have commented on PHM shares. Barclays upped their price target on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. StockNews.com raised PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Jefferies Financial Group upped their price objective on PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Raymond James reaffirmed an “outperform” rating and issued a $135.00 price objective (up previously from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Finally, Citigroup dropped their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $112.21.

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.