Whalen Wealth Management Inc. Sells 6,138 Shares of PulteGroup, Inc. $PHM

Whalen Wealth Management Inc. trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 63.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,597 shares of the construction company’s stock after selling 6,138 shares during the period. Whalen Wealth Management Inc.’s holdings in PulteGroup were worth $475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Evergreen Capital Management LLC lifted its holdings in PulteGroup by 2.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock worth $304,000 after buying an additional 78 shares in the last quarter. Fidelis Capital Partners LLC increased its stake in shares of PulteGroup by 1.0% in the 2nd quarter. Fidelis Capital Partners LLC now owns 8,760 shares of the construction company’s stock valued at $924,000 after buying an additional 85 shares during the period. Cooper Financial Group raised its position in shares of PulteGroup by 1.4% during the second quarter. Cooper Financial Group now owns 6,697 shares of the construction company’s stock worth $706,000 after acquiring an additional 92 shares during the last quarter. Leavell Investment Management Inc. lifted its stake in shares of PulteGroup by 4.7% during the second quarter. Leavell Investment Management Inc. now owns 2,260 shares of the construction company’s stock valued at $239,000 after acquiring an additional 102 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in PulteGroup by 0.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,635 shares of the construction company’s stock valued at $1,227,000 after acquiring an additional 103 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Trading Down 1.0%

Shares of NYSE:PHM opened at $121.56 on Friday. The firm has a market cap of $23.69 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 0.98 and a beta of 1.31. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $142.11. The company’s fifty day simple moving average is $122.11 and its 200 day simple moving average is $120.59. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the prior year, the company earned $3.35 EPS. The company’s revenue was down 1.6% on a year-over-year basis. As a group, research analysts forecast 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 given a $0.26 dividend. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. PulteGroup’s payout ratio is 8.01%.

Analysts Set New Price Targets

Several brokerages have weighed in on PHM. Barclays set a $115.00 price objective on PulteGroup in a report on Monday, December 8th. Evercore ISI lowered 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. Wells Fargo & Company increased their price objective on shares of PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Finally, Bank of America dropped their target price on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.25.

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.