PulteGroup, Inc. (NYSE:PHM) Shares Sold by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group decreased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 3.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,716 shares of the construction company’s stock after selling 95 shares during the period. Rehmann Capital Advisory Group’s holdings in PulteGroup were worth $390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC lifted its stake in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock valued at $27,000 after buying an additional 99 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of PulteGroup in the third quarter worth $29,000. WR Wealth Planners LLC lifted its position in shares of PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after acquiring an additional 82 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of PulteGroup during the second quarter valued at $31,000. Finally, Candriam S.C.A. purchased a new stake in PulteGroup during the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PHM. Wells Fargo & Company upped their target price on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 7th. BTIG Research upped their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Barclays restated an “equal weight” rating and set a $140.00 target price (down previously from $150.00) on shares of PulteGroup in a research report on Wednesday. Wedbush reiterated a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a report on Tuesday, October 22nd. Finally, Oppenheimer reduced their price target on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.29.

PulteGroup Stock Performance

PulteGroup stock opened at $120.69 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. PulteGroup, Inc. has a one year low of $95.36 and a one year high of $149.47. The stock’s 50 day moving average price is $133.94 and its 200 day moving average price is $127.15. The firm has a market capitalization of $24.75 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 0.50 and a beta of 1.62.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.25. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.90 earnings per share. As a group, sell-side analysts expect that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently announced 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 represents a $0.88 dividend on an annualized basis and a dividend yield of 0.73%. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, December 17th. PulteGroup’s dividend payout ratio is presently 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.