Charles Schwab Investment Management Inc. Reduces Position in PulteGroup, Inc. (NYSE:PHM)

Charles Schwab Investment Management Inc. lessened its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 0.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,331,662 shares of the construction company's stock after selling 10,874 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.65% of PulteGroup worth $191,133,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PHM. Grove Bank & Trust increased its position in shares of PulteGroup by 18.4% during the third quarter. Grove Bank & Trust now owns 463 shares of the construction company's stock worth $66,000 after acquiring an additional 72 shares during the period. WR Wealth Planners LLC raised its holdings in shares of PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company's stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. Cromwell Holdings LLC lifted its position in PulteGroup by 17.2% during the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company's stock worth $81,000 after buying an additional 83 shares in the last quarter. Concord Wealth Partners grew its stake in shares of PulteGroup by 1.7% in the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company's stock valued at $718,000 after buying an additional 83 shares during the period. Finally, Lebenthal Global Advisors LLC lifted its position in PulteGroup by 3.9% in the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company's stock valued at $256,000 after buying an additional 87 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Thomas J. Folliard sold 19,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 45,230 shares of the company's stock, valued at $5,931,462.20. This represents a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PHM. UBS Group lifted their price target on shares of PulteGroup from $148.00 to $154.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. BTIG Research lifted their price objective on PulteGroup from $139.00 to $156.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Bank of America boosted their price target on PulteGroup from $138.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Evercore ISI lowered their target price on PulteGroup from $198.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Finally, 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. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $145.00.

PulteGroup Trading Up 1.3 %

Shares of NYSE:PHM traded up $1.64 during mid-day trading on Friday, reaching $129.76. 1,316,736 shares of the company's stock were exchanged, compared to its average volume of 1,739,518. The firm has a market capitalization of $26.61 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 0.52 and a beta of 1.63. PulteGroup, Inc. has a twelve month low of $86.59 and a twelve month high of $149.47. The business's fifty day moving average price is $136.74 and its 200-day moving average price is $125.83. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73.

PulteGroup (NYSE:PHM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.25. The firm had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business's quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the company posted $2.90 EPS. On average, research analysts predict 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. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.68%. This is an increase from PulteGroup's previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, December 17th. PulteGroup's payout ratio is currently 5.90%.

PulteGroup Company 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.