Voya Financial Advisors Inc. Lowers Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Voya Financial Advisors Inc. cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 10.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,309 shares of the construction company’s stock after selling 283 shares during the period. Voya Financial Advisors Inc.’s holdings in PulteGroup were worth $331,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its position in PulteGroup by 102.3% during the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after purchasing an additional 4,571,757 shares during the period. Westfield Capital Management Co. LP purchased a new position in PulteGroup in the third quarter worth $66,485,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PulteGroup by 357.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 521,958 shares of the construction company’s stock valued at $74,917,000 after acquiring an additional 407,764 shares during the period. KBC Group NV boosted its position in shares of PulteGroup by 1,020.0% during the 3rd quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock worth $62,568,000 after purchasing an additional 397,003 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after purchasing an additional 250,937 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Trading Down 0.9 %

PHM opened at $126.75 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. PulteGroup, Inc. has a fifty-two week low of $92.49 and a fifty-two week high of $149.47. The company’s 50 day moving average price is $135.06 and its two-hundred day moving average price is $126.85. The firm has a market capitalization of $25.99 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 0.53 and a beta of 1.62.

PulteGroup (NYSE:PHM) last posted 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 analysts’ expectations of $4.27 billion. During the same period in the prior year, the business earned $2.90 EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, research analysts predict that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a $0.22 dividend. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, December 17th. This represents a $0.88 annualized dividend and a yield of 0.69%. PulteGroup’s payout ratio is currently 5.90%.

Analyst Ratings Changes

Several brokerages recently issued reports on PHM. Oppenheimer reduced their price objective on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. 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. Wedbush restated a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a research report on Tuesday, October 22nd. UBS Group increased their price target on shares of PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock 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.