Mediolanum International Funds Ltd Sells 6,723 Shares of PulteGroup, Inc. $PHM

Mediolanum International Funds Ltd decreased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 68.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,076 shares of the construction company’s stock after selling 6,723 shares during the quarter. Mediolanum International Funds Ltd’s holdings in PulteGroup were worth $410,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Railway Pension Investments Ltd boosted its position in shares of PulteGroup by 2.4% during the second quarter. Railway Pension Investments Ltd now owns 137,739 shares of the construction company’s stock valued at $14,526,000 after buying an additional 3,200 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in PulteGroup by 10.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 105,470 shares of the construction company’s stock valued at $13,959,000 after acquiring an additional 10,028 shares during the period. International Assets Investment Management LLC bought a new position in PulteGroup during the 2nd quarter valued at about $2,162,000. Osaic Holdings Inc. boosted its holdings in shares of PulteGroup by 129.5% during the 2nd quarter. Osaic Holdings Inc. now owns 151,766 shares of the construction company’s stock valued at $15,778,000 after acquiring an additional 85,637 shares during the last quarter. Finally, Generali Asset Management SPA SGR bought a new stake in shares of PulteGroup in the third quarter worth approximately $2,280,000. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Performance

NYSE:PHM opened at $130.20 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 1.01. The stock has a 50-day simple moving average of $124.92 and a two-hundred day simple moving average of $125.14. The firm has a market capitalization of $25.38 billion, a PE ratio of 11.71, a P/E/G ratio of 1.39 and a beta of 1.33. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $142.11.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th were paid a dividend of $0.26 per share. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, December 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. PulteGroup’s dividend payout ratio is presently 9.35%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PHM shares. Royal Bank Of Canada raised their target price on shares of PulteGroup from $111.00 to $115.00 and gave the stock a “sector perform” rating in a report on Friday. Bank of America lowered their price target on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, October 10th. Barclays set a $115.00 price objective on PulteGroup in a report on Monday, December 8th. JPMorgan Chase & Co. reduced their price objective on PulteGroup from $149.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Weiss Ratings raised PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.15.

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.