Steward Partners Investment Advisory LLC Decreases Stock Position in PulteGroup, Inc. $PHM

Steward Partners Investment Advisory LLC trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM) by 5.0% in the second quarter, Holdings Channel.com reports. The firm owned 9,037 shares of the construction company’s stock after selling 474 shares during the period. Steward Partners Investment Advisory LLC’s holdings in PulteGroup were worth $953,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC lifted its stake in shares of PulteGroup by 331.3% in the second quarter. CreativeOne Wealth LLC now owns 19,534 shares of the construction company’s stock worth $2,060,000 after acquiring an additional 15,005 shares in the last quarter. Maripau Wealth Management LLC purchased a new position in shares of PulteGroup during the 2nd quarter valued at approximately $210,000. Global Retirement Partners LLC acquired a new stake in shares of PulteGroup during the second quarter worth approximately $339,000. Waterloo Capital L.P. increased its stake in shares of PulteGroup by 18.1% in the second quarter. Waterloo Capital L.P. now owns 3,218 shares of the construction company’s stock worth $339,000 after buying an additional 493 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of PulteGroup by 21.4% in the second quarter. Prudential Financial Inc. now owns 214,282 shares of the construction company’s stock worth $22,598,000 after buying an additional 37,714 shares during the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on PHM. BTIG Research assumed coverage on shares of PulteGroup in a report on Monday. They set a “neutral” rating for the company. Wells Fargo & Company increased their price target on shares of PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Wedbush reiterated an “outperform” rating and issued a $150.00 price target on shares of PulteGroup in a research note on Tuesday, October 21st. Weiss Ratings restated a “hold (c+)” rating on shares of PulteGroup in a research note on Tuesday, November 25th. Finally, Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.67.

PulteGroup Stock Performance

Shares of PHM opened at $127.18 on Tuesday. The firm has a market capitalization of $24.79 billion, a PE ratio of 9.79, a P/E/G ratio of 0.95 and a beta of 1.25. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $123.52 and a 200 day moving average price of $118.49. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $142.11.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.10. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same period last year, the firm posted $3.35 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be paid a dividend of $0.26 per share. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 16th. PulteGroup’s dividend payout ratio (DPR) is currently 8.01%.

About PulteGroup

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.