Vinva Investment Management Ltd Reduces Stock Position in PulteGroup, Inc. $PHM

Vinva Investment Management Ltd trimmed its position in PulteGroup, Inc. (NYSE:PHM) by 81.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,346 shares of the construction company’s stock after selling 49,320 shares during the period. Vinva Investment Management Ltd’s holdings in PulteGroup were worth $1,197,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of PulteGroup during the 2nd quarter worth $2,162,000. Inspire Investing LLC grew its position in shares of PulteGroup by 143.7% in the first quarter. Inspire Investing LLC now owns 24,059 shares of the construction company’s stock valued at $2,473,000 after purchasing an additional 14,185 shares during the period. Empowered Funds LLC increased its stake in PulteGroup by 5.2% in the first quarter. Empowered Funds LLC now owns 145,070 shares of the construction company’s stock valued at $14,913,000 after purchasing an additional 7,182 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in PulteGroup during the first quarter worth about $704,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in PulteGroup by 4.1% during the second quarter. Nomura Asset Management Co. Ltd. now owns 100,293 shares of the construction company’s stock worth $10,577,000 after buying an additional 3,923 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on PHM shares. Wedbush restated an “outperform” rating and issued a $150.00 price target on shares of PulteGroup in a report on Tuesday, October 21st. Bank of America decreased their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, October 10th. Evercore ISI dropped their price target on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a research report on Wednesday, October 22nd. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Finally, Wells Fargo & Company lifted their price target on shares of PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, PulteGroup currently has an average rating of “Moderate Buy” and an average target price of $133.67.

PulteGroup Stock Down 0.3%

Shares of NYSE PHM opened at $127.19 on Friday. The stock has a fifty day moving average price of $123.56 and a 200 day moving average price of $118.12. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $142.11. The company has a market cap of $24.79 billion, a P/E ratio of 9.79, a P/E/G ratio of 0.95 and a beta of 1.25.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the prior year, the business earned $3.35 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. Research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS 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 paid a dividend of $0.26 per share. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, December 16th. PulteGroup’s payout ratio is 8.01%.

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.