Prime Capital Investment Advisors LLC Decreases Stake in PulteGroup, Inc. (NYSE:PHM)

Prime Capital Investment Advisors LLC lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 85.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,443 shares of the construction company's stock after selling 8,700 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in PulteGroup were worth $207,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. WR Wealth Planners LLC boosted its position in shares of PulteGroup by 54.7% during the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company's stock worth $26,000 after acquiring an additional 82 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in shares of PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock valued at $27,000 after purchasing an additional 99 shares in the last quarter. LRI Investments LLC bought a new position in shares of PulteGroup in the 1st quarter valued at $28,000. Transcendent Capital Group LLC acquired a new position in shares of PulteGroup during the 3rd quarter worth $29,000. Finally, Rothschild Investment LLC bought a new stake in shares of PulteGroup during the 2nd quarter worth $31,000. Institutional investors own 89.90% of the company's stock.

PulteGroup Trading Down 0.2 %

NYSE PHM traded down $0.32 during trading hours on Monday, hitting $128.57. 1,112,162 shares of the company's stock were exchanged, compared to its average volume of 1,836,536. The firm has a market cap of $26.37 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.52 and a beta of 1.63. The stock has a 50-day simple moving average of $137.29 and a 200 day simple moving average of $125.46. 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, Inc. has a 1-year low of $86.59 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.25. The company had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. PulteGroup's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.90 EPS. On average, equities analysts forecast that PulteGroup, Inc. will post 12.94 EPS 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 given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Tuesday, December 17th. This is a boost from PulteGroup's previous quarterly dividend of $0.20. PulteGroup's dividend payout ratio is 6.49%.

Insider Activity

In related news, Director Thomas J. Folliard sold 19,000 shares of the company's 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 sale, the director now owns 45,230 shares in the company, valued at $5,931,462.20. This represents a 29.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert Oshaughnessy sold 71,007 shares of PulteGroup stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total value of $9,573,873.81. Following the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at approximately $12,043,420.09. The trade was a 44.29 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on PHM. Evercore ISI lowered their target price on PulteGroup from $198.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada upped their price objective on PulteGroup from $113.00 to $120.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 24th. BTIG Research lifted their target price on shares of PulteGroup from $139.00 to $156.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Bank of America upped their price target on shares of PulteGroup from $138.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Finally, Barclays raised their price target on shares of PulteGroup from $131.00 to $150.00 and gave the company an "overweight" rating in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, PulteGroup has a consensus rating of "Moderate Buy" and an average price target 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.