PulteGroup, Inc. (NYSE:PHM) Stock Holdings Reduced by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC lowered its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 9.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,528 shares of the construction company’s stock after selling 597 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in PulteGroup were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PHM. Advisors Asset Management Inc. bought a new position in PulteGroup during the second quarter worth $38,000. Jacobi Capital Management LLC grew its position in PulteGroup by 285.3% during the first quarter. Jacobi Capital Management LLC now owns 1,129 shares of the construction company’s stock worth $59,000 after buying an additional 836 shares in the last quarter. Sandy Spring Bank increased its stake in PulteGroup by 39.7% during the second quarter. Sandy Spring Bank now owns 1,408 shares of the construction company’s stock valued at $77,000 after acquiring an additional 400 shares during the period. Archer Investment Corp lifted its position in shares of PulteGroup by 22.5% in the 2nd quarter. Archer Investment Corp now owns 1,510 shares of the construction company’s stock worth $82,000 after acquiring an additional 277 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of PulteGroup by 11.3% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,871 shares of the construction company’s stock worth $98,000 after purchasing an additional 190 shares in the last quarter. 86.57% of the stock is owned by institutional investors.

NYSE PHM opened at $47.18 on Wednesday. The firm has a market capitalization of $12.24 billion, a P/E ratio of 7.62 and a beta of 1.43. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average price is $52.86 and its two-hundred day moving average price is $53.62. PulteGroup, Inc. has a 1 year low of $39.92 and a 1 year high of $63.90.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, July 27th. The construction company reported $1.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.72. PulteGroup had a return on equity of 23.69% and a net margin of 13.58%. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period last year, the firm posted $1.15 earnings per share. The business’s revenue was up 29.5% on a year-over-year basis. On average, research analysts anticipate that PulteGroup, Inc. will post 7.37 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 5th. Shareholders of record on Monday, September 20th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 17th. This represents a $0.56 annualized dividend and a yield of 1.19%. PulteGroup’s dividend payout ratio (DPR) is presently 11.89%.

Several research firms recently issued reports on PHM. BTIG Research dropped their price target on shares of PulteGroup from $77.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, September 9th. The Goldman Sachs Group downgraded PulteGroup from a “buy” rating to a “neutral” rating and cut their price objective for the company from $69.00 to $62.00 in a research report on Wednesday, June 30th. Zacks Investment Research downgraded shares of PulteGroup from a “strong-buy” rating to a “hold” rating and set a $57.00 price target on the stock. in a research report on Tuesday, June 29th. Finally, Seaport Res Ptn restated a “neutral” rating on shares of PulteGroup in a research report on Monday, July 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, PulteGroup currently has an average rating of “Buy” and an average target price of $60.38.

About PulteGroup

PulteGroup, Inc engages in the homebuilding business. The firm also involved in the mortgage banking, and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment comprises of operations from the Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington.

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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