Providence Capital Advisors LLC Sells 141 Shares of PulteGroup, Inc. (NYSE:PHM)

Providence Capital Advisors LLC cut its holdings in PulteGroup, Inc. (NYSE:PHM) by 5.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,326 shares of the construction company’s stock after selling 141 shares during the quarter. Providence Capital Advisors LLC’s holdings in PulteGroup were worth $334,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft bought a new position in PulteGroup in the second quarter valued at approximately $629,000. Cetera Investment Advisers grew its holdings in shares of PulteGroup by 128.4% in the 1st quarter. Cetera Investment Advisers now owns 94,588 shares of the construction company’s stock valued at $11,409,000 after buying an additional 53,175 shares during the period. New Millennium Group LLC grew its holdings in shares of PulteGroup by 10,625.8% in the 3rd quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock valued at $1,370,000 after buying an additional 9,457 shares during the period. Trustmark National Bank Trust Department grew its holdings in shares of PulteGroup by 39.8% in the 3rd quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock valued at $5,682,000 after buying an additional 11,269 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of PulteGroup by 3.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,553 shares of the construction company’s stock valued at $39,993,000 after buying an additional 12,164 shares during the period. 89.90% of the stock is owned by institutional investors.

PulteGroup Trading Up 0.7 %

Shares of NYSE:PHM opened at $136.53 on Thursday. The company’s 50-day moving average price is $136.51 and its two-hundred day moving average price is $126.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. PulteGroup, Inc. has a one year low of $86.59 and a one year high of $149.47. The stock has a market capitalization of $28.00 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the previous year, the firm posted $2.90 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities analysts forecast that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.64%. PulteGroup’s payout ratio is 6.49%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Evercore ISI decreased their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Wells Fargo & Company boosted their price objective on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a research report on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

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.