Nwam LLC Cuts Stake in PulteGroup, Inc. (NYSE:PHM)

Nwam LLC lessened its stake in PulteGroup, Inc. (NYSE:PHM) by 11.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,864 shares of the construction company’s stock after selling 233 shares during the quarter. Nwam LLC’s holdings in PulteGroup were worth $268,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PHM. Greenhaven Associates Inc. lifted its stake in PulteGroup by 0.3% in the 3rd quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after purchasing an additional 16,871 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of PulteGroup by 8.6% in the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after purchasing an additional 235,826 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of PulteGroup by 19.6% in the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after buying an additional 250,937 shares in the last quarter. Victory Capital Management Inc. boosted its stake in PulteGroup by 6.3% during the third quarter. Victory Capital Management Inc. now owns 1,025,276 shares of the construction company’s stock valued at $147,158,000 after buying an additional 60,854 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in PulteGroup by 35.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company’s stock valued at $123,649,000 after buying an additional 223,841 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The trade was a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.75% of the stock is currently owned by insiders.

PulteGroup Trading Up 6.0 %

PHM opened at $137.61 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average is $136.69 and its two-hundred day moving average is $126.05. The company has a market capitalization of $28.22 billion, a P/E ratio of 10.15, a PEG ratio of 0.53 and a beta of 1.63. PulteGroup, Inc. has a 52 week low of $86.59 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM) last released its quarterly earnings data 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. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The firm 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 company posted $2.90 earnings per share. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.64%. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup’s dividend payout ratio (DPR) is presently 5.90%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PHM. UBS Group increased their target price on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Wedbush reissued a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a research note on Tuesday, October 22nd. Oppenheimer decreased their target price on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their price target on PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and a consensus target price 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.