Trivant Custom Portfolio Group LLC Cuts Holdings in PulteGroup, Inc. (NYSE:PHM)

Trivant Custom Portfolio Group LLC reduced its position in shares of PulteGroup, Inc. (NYSE:PHM) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,274 shares of the construction company’s stock after selling 1,045 shares during the period. Trivant Custom Portfolio Group LLC’s holdings in PulteGroup were worth $1,554,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its stake in PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after purchasing an additional 99 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in PulteGroup during the third quarter worth about $29,000. JNBA Financial Advisors purchased a new stake in PulteGroup during the 3rd quarter valued at about $43,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in PulteGroup by 1,059.3% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock valued at $45,000 after acquiring an additional 286 shares during the last quarter. Finally, Grove Bank & Trust lifted its stake in PulteGroup by 18.4% in the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock worth $66,000 after purchasing an additional 72 shares in the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BTIG Research lifted their price target on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI reduced their target price on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. UBS Group upgraded PulteGroup from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $154.00 to $148.00 in a report on Wednesday, January 8th. Wells Fargo & Company cut their price objective on PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group lowered their target price on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $144.14.

PulteGroup Price Performance

PulteGroup stock opened at $117.11 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $120.34 and a 200-day simple moving average of $126.86. The stock has a market cap of $24.02 billion, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 0.43 and a beta of 1.67. PulteGroup, Inc. has a 12-month low of $100.24 and a 12-month high of $149.47.

PulteGroup (NYSE:PHM) last announced 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 company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the previous year, the business earned $2.90 EPS. PulteGroup’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities analysts expect that PulteGroup, Inc. will post 12.96 EPS for the current fiscal year.

PulteGroup Increases Dividend

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

PulteGroup 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.