PulteGroup, Inc. $PHM Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 22.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 401,576 shares of the construction company’s stock after selling 113,648 shares during the quarter. Russell Investments Group Ltd.’s holdings in PulteGroup were worth $42,351,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PHM. Franklin Resources Inc. boosted its stake in shares of PulteGroup by 0.8% in the second quarter. Franklin Resources Inc. now owns 12,290,631 shares of the construction company’s stock worth $1,296,170,000 after buying an additional 95,058 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in PulteGroup by 40.3% in the first quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company’s stock valued at $358,395,000 after acquiring an additional 1,001,290 shares during the period. Ameriprise Financial Inc. boosted its position in PulteGroup by 11.8% in the 1st quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company’s stock worth $264,216,000 after purchasing an additional 271,917 shares in the last quarter. Nuveen LLC acquired a new stake in shares of PulteGroup during the 1st quarter worth approximately $213,092,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of PulteGroup by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,579,792 shares of the construction company’s stock valued at $162,403,000 after purchasing an additional 276,077 shares in the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PHM. Wells Fargo & Company increased their price target on shares of PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Evercore ISI lowered their target price on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 22nd. Citigroup lifted their price target on PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. Wedbush reaffirmed an “outperform” rating and issued a $150.00 price target on shares of PulteGroup in a report on Tuesday, October 21st. Finally, Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.67.

PulteGroup Price Performance

Shares of PulteGroup stock opened at $127.19 on Friday. The stock has a market capitalization of $24.79 billion, a P/E ratio of 9.79, a PEG ratio of 0.95 and a beta of 1.25. The business has a 50 day simple moving average of $123.56 and a two-hundred day simple moving average of $118.12. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $142.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.81 and a quick ratio of 0.81.

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

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be paid a $0.26 dividend. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 16th. PulteGroup’s payout ratio is 8.01%.

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.