Golden State Wealth Management LLC Decreases Stake in PulteGroup, Inc. $PHM

Golden State Wealth Management LLC lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 55.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 409 shares of the construction company’s stock after selling 500 shares during the period. Golden State Wealth Management LLC’s holdings in PulteGroup were worth $43,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Reyes Financial Architecture Inc. grew its stake in PulteGroup by 42.1% during the 1st quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company’s stock valued at $79,000 after acquiring an additional 228 shares in the last quarter. Xponance Inc. lifted its stake in PulteGroup by 38.6% in the 1st quarter. Xponance Inc. now owns 38,993 shares of the construction company’s stock worth $4,008,000 after purchasing an additional 10,867 shares in the last quarter. Florida Financial Advisors LLC boosted its holdings in shares of PulteGroup by 30.5% during the 1st quarter. Florida Financial Advisors LLC now owns 4,832 shares of the construction company’s stock worth $496,000 after purchasing an additional 1,129 shares during the last quarter. Edgestream Partners L.P. grew its position in shares of PulteGroup by 2,687.0% in the first quarter. Edgestream Partners L.P. now owns 77,310 shares of the construction company’s stock valued at $7,947,000 after purchasing an additional 74,536 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of PulteGroup by 0.9% in the first quarter. Envestnet Asset Management Inc. now owns 315,927 shares of the construction company’s stock valued at $32,477,000 after purchasing an additional 2,930 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Up 0.5%

NYSE PHM opened at $119.52 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $23.30 billion, a P/E ratio of 9.20, a PEG ratio of 0.95 and a beta of 1.25. The firm’s 50-day moving average is $128.22 and its two-hundred day moving average is $116.41. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $142.11.

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

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, September 16th. PulteGroup’s dividend payout ratio is 6.77%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PHM. Royal Bank Of Canada boosted their price objective on PulteGroup from $109.00 to $112.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price target on shares of PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Bank of America cut their price objective 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. Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 target price (up from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. Finally, Seaport Res Ptn raised shares of PulteGroup from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.67.

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.