PulteGroup, Inc. $PHM Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its stake in PulteGroup, Inc. (NYSE:PHM) by 13.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 326,531 shares of the construction company’s stock after selling 50,000 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in PulteGroup were worth $43,145,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. WPG Advisers LLC acquired a new stake in shares of PulteGroup during the first quarter valued at about $25,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of PulteGroup during the 2nd quarter worth approximately $32,000. Rexford Capital Inc. acquired a new stake in PulteGroup in the 2nd quarter valued at approximately $35,000. Private Wealth Management Group LLC raised its position in PulteGroup by 281.7% in the third quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after purchasing an additional 200 shares during the period. Finally, Hager Investment Management Services LLC raised its position in PulteGroup by 33.3% in the second 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 during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings cut PulteGroup from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Evercore ISI dropped their target price on PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. boosted their price target on shares of PulteGroup from $136.00 to $149.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Wells Fargo & Company raised their price objective on shares of PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Finally, Citigroup lifted their price objective on shares of PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $137.25.

PulteGroup Stock Performance

Shares of PHM opened at $118.11 on Wednesday. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $142.11. The stock has a market capitalization of $23.02 billion, a PE ratio of 9.09, a PEG ratio of 0.95 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. The stock has a 50-day simple moving average of $121.44 and a 200-day simple moving average of $121.83.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.10. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the firm earned $3.35 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

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

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.