Gabelli Funds LLC Sells 6,900 Shares of PulteGroup, Inc. (NYSE:PHM)

Gabelli Funds LLC cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 14.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,500 shares of the construction company’s stock after selling 6,900 shares during the quarter. Gabelli Funds LLC’s holdings in PulteGroup were worth $4,885,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Putnam Investments LLC raised its holdings in shares of PulteGroup by 1.8% in the 4th quarter. Putnam Investments LLC now owns 11,008,695 shares of the construction company’s stock valued at $1,136,318,000 after purchasing an additional 197,656 shares during the period. Norges Bank bought a new stake in shares of PulteGroup in the 4th quarter valued at about $381,960,000. Allianz Asset Management GmbH raised its holdings in shares of PulteGroup by 38.3% in the 4th quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company’s stock valued at $195,316,000 after purchasing an additional 523,623 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of PulteGroup by 0.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 1,434,016 shares of the construction company’s stock valued at $172,971,000 after purchasing an additional 7,397 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of PulteGroup by 40.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 733,804 shares of the construction company’s stock valued at $88,511,000 after purchasing an additional 212,837 shares during the period. 89.90% of the stock is owned by institutional investors.

PulteGroup Stock Performance

Shares of NYSE:PHM traded up $4.99 on Friday, reaching $129.99. 2,541,442 shares of the company’s stock were exchanged, compared to its average volume of 2,269,473. The company has a current ratio of 0.76, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $26.98 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 0.52 and a beta of 1.61. The company has a fifty day moving average of $114.31 and a 200-day moving average of $111.56. PulteGroup, Inc. has a twelve month low of $68.80 and a twelve month high of $130.93.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.56. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $3.00 EPS. On average, research analysts predict that PulteGroup, Inc. will post 12.76 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $0.80 annualized dividend and a dividend yield of 0.62%. PulteGroup’s dividend payout ratio is 6.41%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PHM. Evercore ISI upped their target price on shares of PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, July 15th. StockNews.com raised shares of PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. increased their price target on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday. Barclays increased their price target on shares of PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Bank of America increased their price target on shares of PulteGroup from $135.00 to $138.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $133.14.

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.