Patton Albertson Miller Group LLC Sells 6,440 Shares of PulteGroup, Inc. (NYSE:PHM)

Patton Albertson Miller Group LLC trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,843 shares of the construction company's stock after selling 6,440 shares during the quarter. PulteGroup makes up about 1.5% of Patton Albertson Miller Group LLC's investment portfolio, making the stock its 12th largest holding. Patton Albertson Miller Group LLC's holdings in PulteGroup were worth $10,742,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Swedbank AB purchased a new stake in shares of PulteGroup in the first quarter valued at $68,985,000. Westfield Capital Management Co. LP purchased a new stake in shares of PulteGroup in the third quarter valued at $66,485,000. KBC Group NV grew its holdings in shares of PulteGroup by 1,020.0% in the third quarter. KBC Group NV now owns 435,925 shares of the construction company's stock worth $62,568,000 after purchasing an additional 397,003 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company's stock valued at $168,254,000 after buying an additional 250,937 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in 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 purchasing an additional 235,826 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

PHM traded down $2.36 during trading on Tuesday, hitting $135.29. The stock had a trading volume of 747,398 shares, compared to its average volume of 1,828,399. The company has a 50 day simple moving average of $136.69 and a 200-day simple moving average of $126.05. PulteGroup, Inc. has a 12 month low of $86.59 and a 12 month high of $149.47. The firm has a market cap of $27.75 billion, a PE ratio of 10.15, a P/E/G ratio of 0.53 and a beta of 1.63. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14.

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 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 firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the previous year, the company earned $2.90 earnings per share. The business's revenue was up 11.8% compared to the same quarter last year. Analysts expect that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.65%. This is an increase 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 5.90%.

Insider Activity at PulteGroup

In other news, Director Thomas J. Folliard sold 19,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.75% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company boosted their price target on PulteGroup from $150.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. Wolfe Research lowered shares of PulteGroup from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, August 14th. Wedbush restated a "neutral" rating and issued a $115.00 price target on shares of PulteGroup in a report on Tuesday, October 22nd. Oppenheimer reduced 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. Finally, Bank of America raised their target price on shares of PulteGroup from $138.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $145.00.

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.