TD Waterhouse Canada Inc. Cuts Stock Holdings in PulteGroup, Inc. $PHM

TD Waterhouse Canada Inc. trimmed its position in PulteGroup, Inc. (NYSE:PHM) by 12.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 45,479 shares of the construction company’s stock after selling 6,253 shares during the period. TD Waterhouse Canada Inc.’s holdings in PulteGroup were worth $6,036,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Golden State Wealth Management LLC grew its position in shares of PulteGroup by 18.3% during the 4th quarter. Golden State Wealth Management LLC now owns 484 shares of the construction company’s stock valued at $57,000 after acquiring an additional 75 shares during the period. Evergreen Capital Management LLC grew its position in shares of PulteGroup by 2.8% in the second quarter. Evergreen Capital Management LLC now owns 2,875 shares of the construction company’s stock valued at $304,000 after purchasing an additional 78 shares in the last quarter. CoreCap Advisors LLC grew its holdings in PulteGroup by 1.1% during the 2nd quarter. CoreCap Advisors LLC now owns 7,372 shares of the construction company’s stock valued at $1,012,000 after buying an additional 79 shares in the last quarter. Stephens Inc. AR increased its holdings in PulteGroup by 3.5% during the 4th quarter. Stephens Inc. AR now owns 2,350 shares of the construction company’s stock worth $276,000 after acquiring an additional 80 shares during the period. Finally, Van Hulzen Asset Management LLC increased its holdings in shares of PulteGroup by 1.4% in the fourth quarter. Van Hulzen Asset Management LLC now owns 7,116 shares of the construction company’s stock worth $834,000 after purchasing an additional 100 shares during the period. Institutional investors own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of PulteGroup from $140.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Barclays boosted their price objective on PulteGroup from $123.00 to $124.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Citigroup reiterated a “market outperform” rating on shares of PulteGroup in a report on Tuesday, August 18th. UBS Group reiterated a “buy” rating and issued a $166.00 price target on shares of PulteGroup in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada lifted their price objective on PulteGroup from $115.00 to $116.00 and gave the company a “sector perform” rating in a research report on Thursday, July 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.20.

PulteGroup Price Performance

NYSE PHM opened at $124.68 on Monday. PulteGroup, Inc. has a 1-year low of $108.49 and a 1-year high of $144.49. The business’s fifty day moving average price is $128.73 and its 200-day moving average price is $125.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $23.37 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.54 and a beta of 1.19.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.12. The business had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.94 billion. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The company’s revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.03 EPS. On average, equities analysts predict that PulteGroup, Inc. will post 10.12 earnings per share for the current year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 15th. PulteGroup’s dividend payout ratio (DPR) is currently 10.62%.

About PulteGroup

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.