Moran Wealth Management LLC Sells 4,948 Shares of PulteGroup, Inc. $PHM

Moran Wealth Management LLC reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,391 shares of the construction company’s stock after selling 4,948 shares during the quarter. Moran Wealth Management LLC’s holdings in PulteGroup were worth $23,307,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PHM. Private Wealth Management Group LLC lifted its position in PulteGroup by 281.7% in the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after acquiring an additional 200 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of PulteGroup in the second quarter worth approximately $32,000. Rexford Capital Inc. purchased a new stake in shares of PulteGroup in the second quarter worth approximately $35,000. True Wealth Design LLC lifted its holdings in shares of PulteGroup by 229.6% in the third quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock valued at $47,000 after purchasing an additional 248 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its position in shares of PulteGroup by 1,423.1% during the third quarter. SJS Investment Consulting Inc. now owns 396 shares of the construction company’s stock valued at $52,000 after buying an additional 370 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PHM shares. Citizens Jmp started coverage on PulteGroup in a research note on Wednesday. They set a “market outperform” rating and a $145.00 price objective on the stock. Evercore ISI lowered their target price on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating for the company in a report on Wednesday, October 22nd. JPMorgan Chase & Co. boosted their price target on shares of PulteGroup from $136.00 to $149.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Bank of America reduced their price objective 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. Finally, BTIG Research started coverage on shares of PulteGroup in a research report on Monday, December 1st. They set a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.15.

PulteGroup Price Performance

Shares of NYSE PHM opened at $117.36 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $121.26 and a two-hundred day simple moving average of $122.46. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $142.11. The firm has a market cap of $22.88 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 0.98 and a beta of 1.33.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.31 billion. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.35 EPS. Analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, December 16th. PulteGroup’s payout ratio is currently 8.01%.

About PulteGroup

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.