Duncan Williams Asset Management LLC Reduces Holdings in PulteGroup, Inc. (NYSE:PHM)

Duncan Williams Asset Management LLC lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 4.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,937 shares of the construction company’s stock after selling 292 shares during the period. Duncan Williams Asset Management LLC’s holdings in PulteGroup were worth $755,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PHM. Patton Albertson Miller Group LLC increased its stake in shares of PulteGroup by 2.2% in the 4th quarter. Patton Albertson Miller Group LLC now owns 76,471 shares of the construction company’s stock worth $8,328,000 after acquiring an additional 1,628 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of PulteGroup by 38.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 7,046 shares of the construction company’s stock worth $767,000 after purchasing an additional 1,948 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in PulteGroup during the 4th quarter valued at about $464,000. Sound Income Strategies LLC increased its stake in PulteGroup by 24.4% during the 4th quarter. Sound Income Strategies LLC now owns 1,961 shares of the construction company’s stock valued at $214,000 after purchasing an additional 384 shares in the last quarter. Finally, RFG Advisory LLC raised its holdings in PulteGroup by 45.9% in the fourth quarter. RFG Advisory LLC now owns 2,153 shares of the construction company’s stock worth $234,000 after buying an additional 677 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

NYSE:PHM opened at $115.66 on Friday. The stock has a 50-day moving average price of $119.02 and a 200 day moving average price of $127.26. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 12-month low of $100.24 and a 12-month high of $149.47. The stock has a market capitalization of $23.72 billion, a P/E ratio of 8.53, a P/E/G ratio of 0.46 and a beta of 1.67.

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is 6.49%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PHM. Citigroup decreased their price objective on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Wedbush upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 target price on the stock in a research note on Friday, January 3rd. Evercore ISI reduced their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Oppenheimer dropped their target price on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and a consensus target price of $144.14.

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.