Inspire Advisors LLC Cuts Stock Position in PulteGroup, Inc. $PHM

Inspire Advisors LLC trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,037 shares of the construction company’s stock after selling 529 shares during the quarter. Inspire Advisors LLC’s holdings in PulteGroup were worth $953,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PHM. Teachers Retirement System of The State of Kentucky lifted its position in PulteGroup by 3.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 15,829 shares of the construction company’s stock valued at $1,627,000 after acquiring an additional 513 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in shares of PulteGroup during the first quarter worth $1,007,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of PulteGroup by 3.8% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 154,634 shares of the construction company’s stock valued at $15,896,000 after purchasing an additional 5,667 shares during the last quarter. KLP Kapitalforvaltning AS lifted its holdings in shares of PulteGroup by 0.8% during the 1st quarter. KLP Kapitalforvaltning AS now owns 152,364 shares of the construction company’s stock valued at $15,692,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of PulteGroup by 15.3% in the 1st quarter. Venturi Wealth Management LLC now owns 18,317 shares of the construction company’s stock worth $1,883,000 after purchasing an additional 2,427 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PHM. Bank of America reduced their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, October 10th. Raymond James Financial restated an “outperform” rating and set a $140.00 price objective (up previously from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Evercore ISI decreased their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Finally, UBS Group upped their price target on shares of PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.67.

PulteGroup Price Performance

Shares of NYSE PHM opened at $113.44 on Wednesday. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $142.11. The business’s 50 day moving average price is $125.66 and its 200 day moving average price is $117.27. 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 market cap of $22.11 billion, a P/E ratio of 8.73, a P/E/G ratio of 0.95 and a beta of 1.25.

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

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 0.8%. PulteGroup’s payout ratio is currently 6.77%.

PulteGroup Company 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.