iA Global Asset Management Inc. Sells 9,492 Shares of PulteGroup, Inc. (NYSE:PHM)

iA Global Asset Management Inc. reduced its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 78.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,676 shares of the construction company's stock after selling 9,492 shares during the quarter. iA Global Asset Management Inc.'s holdings in PulteGroup were worth $384,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Fortitude Family Office LLC grew its position in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of PulteGroup in the 3rd quarter worth about $29,000. WR Wealth Planners LLC raised its position in PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company's stock worth $26,000 after acquiring an additional 82 shares during the period. Rothschild Investment LLC bought a new position in shares of PulteGroup during the 2nd quarter valued at approximately $31,000. Finally, Candriam S.C.A. purchased a new position in PulteGroup in the second quarter valued at approximately $33,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Price Performance

Shares of NYSE PHM traded down $3.10 during mid-day trading on Tuesday, reaching $125.37. 2,147,807 shares of the company were exchanged, compared to its average volume of 1,821,271. The stock has a market capitalization of $25.71 billion, a PE ratio of 9.24, a PEG ratio of 0.52 and a beta of 1.62. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 52 week low of $95.36 and a 52 week high of $149.47. The company's 50 day moving average price is $134.76 and its 200 day moving average price is $127.11.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.10 by $0.25. The firm had revenue of $4.48 billion during the quarter, compared to analysts' expectations of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.90 EPS. Sell-side analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.22 per share. This is a boost from PulteGroup's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Tuesday, December 17th. PulteGroup's dividend payout ratio (DPR) is 6.49%.

Analyst Ratings Changes

PHM has been the subject of a number of recent research reports. Evercore ISI decreased their target price on PulteGroup from $198.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. Wolfe Research downgraded shares of PulteGroup from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, August 14th. Wedbush reissued a "neutral" rating and issued a $115.00 price target on shares of PulteGroup in a research report on Tuesday, October 22nd. BTIG Research lifted their price objective on shares of PulteGroup from $139.00 to $156.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their target price on 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 issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $145.00.

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.