Nwam LLC Reduces Stock Holdings in PulteGroup, Inc. (NYSE:PHM)

Nwam LLC reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 11.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,864 shares of the construction company’s stock after selling 233 shares during the quarter. Nwam LLC’s holdings in PulteGroup were worth $268,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in shares of PulteGroup during the first quarter valued at $68,985,000. KBC Group NV lifted its position in PulteGroup by 1,020.0% during the 3rd quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock worth $62,568,000 after acquiring an additional 397,003 shares during the period. Hsbc Holdings PLC lifted its position in PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after acquiring an additional 250,937 shares during the period. Pacer Advisors Inc. grew its stake in PulteGroup by 8.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock valued at $326,864,000 after purchasing an additional 235,826 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of PulteGroup by 35.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company’s stock valued at $123,649,000 after purchasing an additional 223,841 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Evercore ISI decreased their target price on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Oppenheimer decreased their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. BTIG Research increased their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Bank of America boosted their target price on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

PulteGroup Trading Up 6.0 %

Shares of PHM stock opened at $137.61 on Tuesday. PulteGroup, Inc. has a 1-year low of $86.59 and a 1-year high of $149.47. The company has a market cap of $28.22 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 0.53 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a 50 day simple moving average of $136.69 and a 200-day simple moving average of $126.05.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the prior year, the business posted $2.90 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities research analysts expect that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.64%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup’s payout ratio is presently 5.90%.

Insiders Place Their Bets

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total value of $2,491,660.00. Following the transaction, the director now owns 45,230 shares in the company, valued at approximately $5,931,462.20. This trade represents a 29.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.75% of the stock is owned by company insiders.

PulteGroup 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.