Northwestern Mutual Wealth Management Co. Sells 4,916 Shares of PulteGroup, Inc. $PHM

Northwestern Mutual Wealth Management Co. lessened its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 20.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 18,551 shares of the construction company’s stock after selling 4,916 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in PulteGroup were worth $2,545,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of PulteGroup in the fourth quarter worth about $466,653,000. Price T Rowe Associates Inc. MD grew its stake in shares of PulteGroup by 126.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,284,197 shares of the construction company’s stock valued at $502,366,000 after acquiring an additional 2,392,580 shares during the period. Bank of New York Mellon Corp purchased a new stake in PulteGroup in the 2nd quarter worth approximately $189,931,000. Public Sector Pension Investment Board raised its stake in PulteGroup by 5,485.0% during the 4th quarter. Public Sector Pension Investment Board now owns 930,622 shares of the construction company’s stock worth $109,125,000 after acquiring an additional 913,959 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in PulteGroup by 5.1% during the fourth quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company’s stock valued at $1,589,495,000 after purchasing an additional 655,033 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

PHM has been the subject of a number of analyst reports. Citigroup reissued a “market outperform” rating on shares of PulteGroup in a research note on Tuesday, August 18th. Wolfe Research set a $129.00 target price on shares of PulteGroup and gave the company an “outperform” rating in a research note on Monday, August 24th. Weiss Ratings upgraded PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 21st. Royal Bank Of Canada raised their price target on PulteGroup from $115.00 to $116.00 and gave the company a “sector perform” rating in a report on Thursday, July 23rd. Finally, Wells Fargo & Company boosted their price objective on PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.20.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $124.68 on Friday. The company has a market cap of $23.37 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.54 and a beta of 1.19. PulteGroup, Inc. has a 52-week low of $108.49 and a 52-week high of $144.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 0.78. The firm’s fifty day moving average is $128.73 and its two-hundred day moving average is $125.13.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.36 by $0.12. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the prior year, the firm earned $3.03 EPS. The business’s revenue was down 9.6% on a year-over-year basis. As a group, analysts anticipate that PulteGroup, Inc. will post 10.12 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. PulteGroup’s payout ratio is presently 10.62%.

PulteGroup Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.