Charles Schwab Investment Management Inc. Decreases Stock Position in PulteGroup, Inc. (NYSE:PHM)

Charles Schwab Investment Management Inc. reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,331,662 shares of the construction company’s stock after selling 10,874 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.65% of PulteGroup worth $191,133,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. WR Wealth Planners LLC raised its position in shares of PulteGroup by 54.7% during the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares during the last quarter. Fortitude Family Office LLC increased its position in PulteGroup by 115.1% during the third quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after buying an additional 99 shares in the last quarter. LRI Investments LLC acquired a new position in shares of PulteGroup in the first quarter worth $28,000. Transcendent Capital Group LLC purchased a new stake in shares of PulteGroup in the third quarter valued at $29,000. Finally, Rothschild Investment LLC acquired a new stake in shares of PulteGroup during the second quarter valued at $31,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

PHM has been the topic of a number of recent research reports. UBS Group upped their target price on shares of PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their target price on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Evercore ISI reduced their price target on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Bank of America lifted their price objective on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup Price Performance

PHM opened at $129.76 on Friday. PulteGroup, Inc. has a 52-week low of $86.59 and a 52-week high of $149.47. The company has a 50 day moving average of $136.74 and a two-hundred day moving average of $125.83. The company has a market cap of $26.61 billion, a P/E ratio of 9.57, 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 (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.90 EPS. On average, analysts expect 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. The ex-dividend date of this dividend is Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.68%. PulteGroup’s payout ratio is 5.90%.

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.