Pacer Advisors Inc. Decreases Stock Position in PulteGroup, Inc. $PHM

Pacer Advisors Inc. cut its position in PulteGroup, Inc. (NYSE:PHM) by 36.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 680,715 shares of the construction company’s stock after selling 392,054 shares during the quarter. Pacer Advisors Inc.’s holdings in PulteGroup were worth $89,943,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WPG Advisers LLC purchased a new stake in PulteGroup during the first quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC bought a new position in PulteGroup in the 2nd quarter valued at $32,000. Rexford Capital Inc. bought a new position in PulteGroup in the 2nd quarter valued at $35,000. Hager Investment Management Services LLC grew its position in shares of PulteGroup by 33.3% during the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock valued at $44,000 after purchasing an additional 105 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its position in shares of PulteGroup by 170.4% in the third quarter. AdvisorNet Financial Inc now owns 503 shares of the construction company’s stock worth $67,000 after buying an additional 317 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PHM shares. Evercore ISI decreased their target price on PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. upped their price objective on shares of PulteGroup from $136.00 to $149.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Barclays set a $115.00 price target on shares of PulteGroup in a research note on Monday, December 8th. Finally, Citigroup raised their price objective on shares of PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average price target of $137.25.

PulteGroup Trading Up 1.7%

PHM stock opened at $119.35 on Friday. The company has a market capitalization of $23.26 billion, a PE ratio of 9.19, a price-to-earnings-growth ratio of 0.96 and a beta of 1.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 0.81. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $142.11. The company’s 50 day moving average price is $121.73 and its two-hundred day moving average price is $121.25.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.31 billion. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.35 EPS. As a group, analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, December 16th. PulteGroup’s payout ratio is 8.01%.

About PulteGroup

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.