PulteGroup, Inc. (NYSE:PHM) Shares Sold by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 53.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,913 shares of the construction company's stock after selling 22,842 shares during the quarter. Arete Wealth Advisors LLC's holdings in PulteGroup were worth $2,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of PulteGroup by 102.3% during the 3rd quarter. FMR LLC now owns 9,040,828 shares of the construction company's stock worth $1,297,630,000 after purchasing an additional 4,571,757 shares during the last quarter. Greenhaven Associates Inc. boosted its position in shares of PulteGroup by 0.3% in the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company's stock worth $802,789,000 after acquiring an additional 16,871 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of PulteGroup by 8.6% in the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company's stock worth $326,864,000 after acquiring an additional 235,826 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of PulteGroup by 7.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company's stock worth $267,546,000 after acquiring an additional 135,391 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of PulteGroup by 19.6% in the second 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 last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PHM shares. Wells Fargo & Company raised their target price on shares of PulteGroup from $150.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. UBS Group raised their target price on shares of PulteGroup from $148.00 to $154.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Wedbush reaffirmed a "neutral" rating and set a $115.00 price target on shares of PulteGroup in a research report on Tuesday, October 22nd. Barclays reaffirmed an "equal weight" rating and set a $140.00 price target (down from $150.00) on shares of PulteGroup in a research report on Wednesday. Finally, BTIG Research lifted their price target on shares of PulteGroup from $139.00 to $156.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $144.29.

PulteGroup Stock Down 2.7 %

PHM traded down $3.43 during trading on Wednesday, hitting $121.91. The company had a trading volume of 2,636,670 shares, compared to its average volume of 1,824,670. The company has a market cap of $25.00 billion, a PE ratio of 9.06, a P/E/G ratio of 0.52 and a beta of 1.62. The business has a 50-day moving average of $134.76 and a 200-day moving average of $127.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. PulteGroup, Inc. has a 1-year low of $95.36 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.25. The firm had revenue of $4.48 billion for the quarter, compared to analysts' expectations of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm's quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.90 earnings per share. As a group, analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Increases Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, December 17th. This is a boost from PulteGroup's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.72%. PulteGroup's dividend payout ratio is currently 6.49%.

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.