Principal Financial Group Inc. Sells 57,580 Shares of PulteGroup, Inc. (NYSE:PHM)

Principal Financial Group Inc. lowered its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 14.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 332,208 shares of the construction company's stock after selling 57,580 shares during the quarter. Principal Financial Group Inc. owned approximately 0.16% of PulteGroup worth $47,682,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PHM. WR Wealth Planners LLC grew its position 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 purchasing an additional 82 shares in the last quarter. Fortitude Family Office LLC grew its holdings in PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company's stock valued at $27,000 after buying an additional 99 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in PulteGroup during the 3rd quarter valued at approximately $29,000. Rothschild Investment LLC bought a new stake in PulteGroup in the 2nd quarter worth approximately $31,000. Finally, Candriam S.C.A. purchased a new stake in shares of PulteGroup during the 2nd quarter worth approximately $33,000. Institutional investors own 89.90% of the company's stock.

PulteGroup Stock Down 0.4 %

Shares of PHM stock traded down $0.39 during mid-day trading on Monday, hitting $110.13. The stock had a trading volume of 1,477,320 shares, compared to its average volume of 1,853,267. PulteGroup, Inc. has a 12-month low of $99.03 and a 12-month high of $149.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The firm's 50-day moving average is $130.41 and its two-hundred day moving average is $127.24. The firm has a market capitalization of $22.59 billion, a P/E ratio of 8.12, a price-to-earnings-growth ratio of 0.48 and a beta of 1.62.

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, topping analysts' consensus estimates 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%. The firm'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 firm earned $2.90 earnings per share. On average, analysts predict that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.80%. This is a positive change from PulteGroup's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup's dividend payout ratio (DPR) is presently 6.49%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. 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 report on Thursday, September 19th. Wells Fargo & Company reduced their target price on shares of PulteGroup from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. StockNews.com lowered PulteGroup from a "buy" rating to a "hold" rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. reduced their price objective on PulteGroup from $162.00 to $155.00 and set an "overweight" rating on the stock in a research note on Friday, December 13th. Finally, UBS Group raised their price objective on PulteGroup from $148.00 to $154.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $142.71.

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.