VIRGINIA RETIREMENT SYSTEMS ET Al Sells 7,900 Shares of PulteGroup, Inc. $PHM

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 12.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 56,381 shares of the construction company’s stock after selling 7,900 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in PulteGroup were worth $6,544,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PHM. CoreCap Advisors LLC boosted its holdings in PulteGroup by 1.1% in the 2nd quarter. CoreCap Advisors LLC now owns 7,372 shares of the construction company’s stock worth $1,012,000 after acquiring an additional 79 shares during the period. Apollon Wealth Management LLC grew its position in PulteGroup by 3.8% in the first quarter. Apollon Wealth Management LLC now owns 3,343 shares of the construction company’s stock valued at $393,000 after acquiring an additional 121 shares in the last quarter. Oddo BHF Asset Management Sas raised its stake in shares of PulteGroup by 1.1% during the first quarter. Oddo BHF Asset Management Sas now owns 11,516 shares of the construction company’s stock valued at $1,354,000 after purchasing an additional 124 shares during the period. Cedar Mountain Advisors LLC raised its stake in shares of PulteGroup by 1,650.0% during the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company’s stock valued at $25,000 after purchasing an additional 198 shares during the period. Finally, Lynch Investment Planning LLC purchased a new stake in shares of PulteGroup during the third quarter valued at approximately $26,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wolfe Research set a $129.00 target price on shares of PulteGroup and gave the company an “outperform” rating in a research note on Monday, August 24th. Citigroup lifted their price target on shares of PulteGroup from $122.00 to $127.00 and gave the stock a “neutral” rating in a research note on Monday, October 26th. Benchmark upgraded shares of PulteGroup to a “strong-buy” rating in a report on Thursday, September 3rd. Melius Research started coverage on shares of PulteGroup in a report on Tuesday, October 6th. They issued a “hold” rating and a $132.00 price objective on the stock. Finally, Barclays decreased their price objective on shares of PulteGroup from $110.00 to $109.00 and set an “equal weight” rating for the company in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and an average target price of $137.24.

PulteGroup Price Performance

PHM stock opened at $124.80 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 52-week low of $107.15 and a 52-week high of $144.49. The stock’s 50 day moving average is $119.29 and its two-hundred day moving average is $124.18. The company has a market capitalization of $22.97 billion, a PE ratio of 13.33, a P/E/G ratio of 2.06 and a beta of 1.16.

PulteGroup (NYSE:PHM) last announced its earnings results on Thursday, October 22nd. The construction company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.10). The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.15 billion. PulteGroup had a net margin of 11.24% and a return on equity of 14.29%. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.96 earnings per share. Analysts predict that PulteGroup, Inc. will post 9.51 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Tuesday, September 15th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, September 15th. PulteGroup’s payout ratio is 11.11%.

PulteGroup Company Profile

PulteGroup, Inc is a major U.S. homebuilding company that designs, builds and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its operations include land acquisition and development, home construction, sales and marketing, and customer service.

The company markets homes under several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West. Through these brands, PulteGroup offers a variety of single-family home designs and communities, with products tailored to different price points, lifestyles and stages of homeownership.