PulteGroup, Inc. $PHM Shares Sold by Legal Advantage Investments Inc.

Legal Advantage Investments Inc. lowered its position in PulteGroup, Inc. (NYSE:PHM) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,920 shares of the construction company’s stock after selling 100 shares during the period. Legal Advantage Investments Inc.’s holdings in PulteGroup were worth $413,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. WPG Advisers LLC acquired a new stake in shares of PulteGroup in the 1st quarter worth approximately $25,000. Hager Investment Management Services LLC grew its holdings in shares of PulteGroup by 33.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock worth $44,000 after acquiring an additional 105 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in shares of PulteGroup in the 1st quarter worth approximately $54,000. REAP Financial Group LLC grew its holdings in shares of PulteGroup by 188.1% in the 2nd quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock worth $56,000 after acquiring an additional 348 shares during the period. Finally, Quarry LP grew its holdings in shares of PulteGroup by 43.8% in the 1st quarter. Quarry LP now owns 571 shares of the construction company’s stock worth $59,000 after acquiring an additional 174 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PHM shares. Wells Fargo & Company upped their price target on PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Wedbush reiterated an “outperform” rating and set a $150.00 target price on shares of PulteGroup in a report on Wednesday, August 13th. Evercore ISI set a $154.00 target price on PulteGroup and gave the company an “in-line” rating in a report on Tuesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of PulteGroup in a report on Wednesday. Finally, Bank of America lowered their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average price target of $136.92.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $119.92 on Friday. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $149.47. The stock has a market cap of $23.66 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 0.35 and a beta of 1.29. The business’s fifty day moving average price is $130.52 and its two-hundred day moving average price is $112.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77.

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

PulteGroup Announces Dividend

The firm 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 dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup’s dividend payout ratio is currently 6.58%.

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.