PulteGroup, Inc. $PHM Position Trimmed by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 465,179 shares of the construction company’s stock after selling 13,066 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of PulteGroup worth $53,989,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp grew its position in PulteGroup by 3.2% during the second quarter. State Street Corp now owns 9,174,111 shares of the construction company’s stock worth $1,261,092,000 after buying an additional 288,054 shares during the period. First Trust Advisors LP lifted its holdings in PulteGroup by 7.8% in the 1st quarter. First Trust Advisors LP now owns 4,314,501 shares of the construction company’s stock valued at $507,428,000 after purchasing an additional 313,581 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in PulteGroup by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,146,857 shares of the construction company’s stock worth $370,008,000 after acquiring an additional 26,790 shares during the last quarter. Bank of America Corp DE grew its position in shares of PulteGroup by 4.3% in the first quarter. Bank of America Corp DE now owns 1,963,175 shares of the construction company’s stock valued at $230,889,000 after purchasing an additional 80,352 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of PulteGroup during the 2nd quarter valued at about $189,931,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PHM. Wolfe Research set a $129.00 target price on PulteGroup and gave the stock an “outperform” rating in a research report on Monday, August 24th. Wells Fargo & Company dropped their price target on shares of PulteGroup from $150.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, September 11th. Royal Bank Of Canada cut their target price on PulteGroup from $111.00 to $110.00 and set a “sector perform” rating on the stock in a research report on Friday, October 23rd. The Goldman Sachs Group set a $138.00 price target on shares of PulteGroup in a research report on Monday, October 12th. Finally, Evercore reissued an “outperform” rating on shares of PulteGroup in a report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $136.76.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $126.82 on Wednesday. The company has a market capitalization of $23.35 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 2.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a fifty day moving average of $119.28 and a 200-day moving average of $124.15. PulteGroup, Inc. has a one year low of $107.15 and a one year high of $144.49.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Thursday, October 22nd. The construction company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.10). PulteGroup had a net margin of 11.24% and a return on equity of 14.29%. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the company posted $2.96 earnings per share. PulteGroup’s quarterly revenue was down 9.8% compared to the same quarter last year. As a group, equities analysts anticipate that PulteGroup, Inc. will post 9.51 EPS for the current fiscal year.

PulteGroup Announces Dividend

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

PulteGroup 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.