Chevy Chase Trust Holdings LLC Decreases Stake in PulteGroup, Inc. $PHM

Chevy Chase Trust Holdings LLC lowered its stake in PulteGroup, Inc. (NYSE:PHM) by 0.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 106,154 shares of the construction company’s stock after selling 314 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in PulteGroup were worth $11,195,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PHM. WPG Advisers LLC bought a new stake in PulteGroup during the 1st quarter valued at $25,000. Hager Investment Management Services LLC increased its position in shares of PulteGroup by 33.3% in the second quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock valued at $44,000 after acquiring an additional 105 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of PulteGroup during the first quarter valued at about $54,000. REAP Financial Group LLC boosted its holdings in shares of PulteGroup by 188.1% during the second quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock worth $56,000 after purchasing an additional 348 shares during the period. Finally, Quarry LP boosted its holdings in shares of PulteGroup by 43.8% during the first quarter. Quarry LP now owns 571 shares of the construction company’s stock worth $59,000 after purchasing an additional 174 shares during the period. Institutional investors own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PHM shares. Royal Bank Of Canada upped their price target on PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 23rd. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. Wedbush reaffirmed an “outperform” rating and issued a $150.00 price target on shares of PulteGroup in a research note on Wednesday, August 13th. Seaport Res Ptn raised shares of PulteGroup from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 22nd. Finally, Bank of America dropped their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.92.

PulteGroup Trading Up 0.3%

NYSE PHM opened at $124.29 on Monday. The firm has a market capitalization of $24.52 billion, a PE ratio of 9.29, a P/E/G ratio of 0.37 and a beta of 1.29. The stock’s 50 day moving average is $130.81 and its 200 day moving average is $113.80. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, beating the consensus estimate of $2.92 by $0.11. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter last year, the firm posted $3.83 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Research analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 0.7%. PulteGroup’s payout ratio is presently 6.58%.

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.