Integrated Wealth Concepts LLC Sells 6,228 Shares of PulteGroup, Inc. (NYSE:PHM)

Integrated Wealth Concepts LLC reduced its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 61.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,858 shares of the construction company's stock after selling 6,228 shares during the period. Integrated Wealth Concepts LLC's holdings in PulteGroup were worth $554,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Grove Bank & Trust grew its stake in PulteGroup by 18.4% in the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company's stock valued at $66,000 after buying an additional 72 shares during the last quarter. WR Wealth Planners LLC increased its stake 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 worth $26,000 after purchasing an additional 82 shares during the period. Cromwell Holdings LLC increased its stake in shares of 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 purchasing an additional 83 shares during the period. Concord Wealth Partners lifted its holdings in PulteGroup by 1.7% during the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company's stock worth $718,000 after purchasing an additional 83 shares during the last quarter. Finally, Lebenthal Global Advisors LLC boosted its stake in PulteGroup by 3.9% in the 2nd quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company's stock valued at $256,000 after purchasing an additional 87 shares during the period. 89.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

PHM has been the topic of several recent research reports. StockNews.com cut PulteGroup from a "buy" rating to a "hold" rating in a research report on Wednesday. Bank of America raised their price target on shares of PulteGroup from $138.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Evercore ISI dropped their price objective on shares of PulteGroup from $198.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. BTIG Research increased 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. Finally, Oppenheimer lowered their target price on shares of PulteGroup from $168.00 to $165.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, PulteGroup presently has an average rating of "Moderate Buy" and an average target price of $144.29.

PulteGroup Price Performance

Shares of PulteGroup stock traded down $3.45 during trading on Wednesday, reaching $121.89. 2,636,748 shares of the company's stock were exchanged, compared to its average volume of 1,824,695. 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, Inc. has a 1-year low of $95.36 and a 1-year high of $149.47. The company has a market cap of $25.00 billion, a P/E ratio of 8.99, a PEG ratio of 0.52 and a beta of 1.62. The firm's 50-day moving average price is $133.94 and its 200 day moving average price is $127.15.

PulteGroup (NYSE:PHM - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS 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 the consensus estimate 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 quarter in the previous year, the firm earned $2.90 earnings per share. As a group, research analysts anticipate that PulteGroup, Inc. will post 12.94 earnings per share for the current year.

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.72%. This is a positive change from PulteGroup's previous quarterly dividend of $0.20. PulteGroup's dividend payout ratio (DPR) is currently 6.49%.

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.