Patton Albertson Miller Group LLC Decreases Stake in PulteGroup, Inc. (NYSE:PHM)

Patton Albertson Miller Group LLC lessened its stake in PulteGroup, Inc. (NYSE:PHM) by 15.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 64,998 shares of the construction company’s stock after selling 11,473 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in PulteGroup were worth $6,682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PHM. Ameriflex Group Inc. acquired a new stake in shares of PulteGroup during the 4th quarter worth about $37,000. TD Waterhouse Canada Inc. raised its position in shares of PulteGroup by 43.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company’s stock worth $38,000 after acquiring an additional 105 shares in the last quarter. American National Bank & Trust acquired a new stake in shares of PulteGroup during the 1st quarter worth about $39,000. Quarry LP acquired a new position in PulteGroup during the fourth quarter worth approximately $43,000. Finally, Catalyst Capital Advisors LLC acquired a new position in PulteGroup during the first quarter worth approximately $54,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group cut their price target on PulteGroup from $151.00 to $141.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $132.00 price target (up previously from $125.00) on shares of PulteGroup in a research report on Tuesday. Royal Bank Of Canada cut their price target on PulteGroup from $116.00 to $109.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. Evercore ISI boosted their target price on PulteGroup from $161.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 23rd. Finally, Barclays dropped their target price on PulteGroup from $100.00 to $98.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.69.

PulteGroup Stock Up 0.1%

PHM opened at $109.42 on Friday. The business’s fifty day moving average is $104.07 and its two-hundred day moving average is $104.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $21.93 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 0.32 and a beta of 1.29. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.10. PulteGroup had a return on equity of 22.86% and a net margin of 16.45%. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the prior year, the business earned $3.10 earnings per share. Analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th were given a $0.22 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.80%. PulteGroup’s dividend payout ratio is currently 6.21%.

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.