PulteGroup, Inc. $PHM Shares Sold by Tounjian Advisory Partners LLC

Tounjian Advisory Partners LLC reduced its stake in PulteGroup, Inc. (NYSE:PHM) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,262 shares of the construction company’s stock after selling 1,016 shares during the period. PulteGroup makes up about 1.2% of Tounjian Advisory Partners LLC’s investment portfolio, making the stock its 19th biggest holding. Tounjian Advisory Partners LLC’s holdings in PulteGroup were worth $6,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PHM. Nuveen LLC acquired a new stake in PulteGroup in the 1st quarter valued at $213,092,000. Pacer Advisors Inc. increased its holdings in PulteGroup by 2,586.8% in the 1st quarter. Pacer Advisors Inc. now owns 1,166,902 shares of the construction company’s stock valued at $119,958,000 after purchasing an additional 1,123,471 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in PulteGroup by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company’s stock valued at $358,395,000 after purchasing an additional 1,001,290 shares in the last quarter. AustralianSuper Pty Ltd increased its holdings in PulteGroup by 219.2% in the 1st quarter. AustralianSuper Pty Ltd now owns 1,039,107 shares of the construction company’s stock valued at $106,820,000 after purchasing an additional 713,534 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in PulteGroup in the 1st quarter valued at $53,262,000. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price target (up from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Citigroup raised their target price on PulteGroup from $128.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company raised their target price on PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Finally, JPMorgan Chase & Co. raised their target price on PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $136.46.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $133.99 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $124.40 and its two-hundred day moving average price is $109.72. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The stock has a market capitalization of $26.44 billion, a P/E ratio of 10.01, a P/E/G ratio of 0.40 and a beta of 1.27.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter last year, the company posted $3.83 earnings per share. PulteGroup’s revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 16th. PulteGroup’s payout ratio is 6.58%.

PulteGroup 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.