Raleigh Capital Management Inc. Cuts Stock Position in PulteGroup, Inc. $PHM

Raleigh Capital Management Inc. trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,858 shares of the construction company’s stock after selling 157 shares during the period. Raleigh Capital Management Inc.’s holdings in PulteGroup were worth $407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. WPG Advisers LLC purchased a new position in PulteGroup in the 1st quarter worth approximately $25,000. American National Bank & Trust bought a new stake in PulteGroup in the 1st quarter valued at $39,000. Catalyst Capital Advisors LLC purchased a new stake in PulteGroup in the 1st quarter worth $54,000. Quarry LP boosted its holdings in shares of PulteGroup by 43.8% during the 1st quarter. Quarry LP now owns 571 shares of the construction company’s stock valued at $59,000 after purchasing an additional 174 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new position in shares of PulteGroup during the first quarter valued at about $61,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analysts Set New Price Targets

PHM has been the topic of a number of research analyst reports. Seaport Res Ptn upgraded PulteGroup from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 22nd. UBS Group upped their price objective on PulteGroup from $141.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. Citigroup upped their price target on shares of PulteGroup from $128.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Finally, Wedbush reiterated an “outperform” rating and set a $150.00 price objective on shares of PulteGroup in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $136.46.

PulteGroup Price Performance

PHM stock opened at $132.16 on Wednesday. The stock has a market cap of $26.08 billion, a PE ratio of 9.88, a P/E/G ratio of 0.39 and a beta of 1.27. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The company has a 50-day moving average price of $128.28 and a 200 day moving average price of $111.57. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.11. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.83 earnings per share. Equities research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

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

PulteGroup Company 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.