Toronto Dominion Bank Sells 7,985 Shares of PulteGroup, Inc. (NYSE:PHM)

Toronto Dominion Bank trimmed its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 9.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 74,314 shares of the construction company's stock after selling 7,985 shares during the period. Toronto Dominion Bank's holdings in PulteGroup were worth $10,666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Trustmark National Bank Trust Department boosted its holdings in PulteGroup by 39.8% during the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company's stock worth $5,682,000 after buying an additional 11,269 shares in the last quarter. New Millennium Group LLC boosted its stake in shares of PulteGroup by 10,625.8% during the 3rd quarter. New Millennium Group LLC now owns 9,546 shares of the construction company's stock worth $1,370,000 after acquiring an additional 9,457 shares in the last quarter. Systematic Financial Management LP grew its holdings in shares of PulteGroup by 3.9% in the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company's stock worth $18,696,000 after acquiring an additional 4,840 shares during the last quarter. Vision Capital Corp acquired a new stake in shares of PulteGroup during the third quarter worth $22,348,000. Finally, Blair William & Co. IL lifted its holdings in shares of PulteGroup by 25.1% during the second quarter. Blair William & Co. IL now owns 34,127 shares of the construction company's stock valued at $3,757,000 after purchasing an additional 6,858 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Down 1.9 %

PHM traded down $2.27 during midday trading on Friday, hitting $118.42. 2,174,743 shares of the company's stock traded hands, compared to its average volume of 1,826,453. 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 company has a market cap of $24.29 billion, a PE ratio of 8.73, a price-to-earnings-growth ratio of 0.50 and a beta of 1.62. The stock's fifty day simple moving average is $133.08 and its 200-day simple moving average is $127.14. PulteGroup, Inc. has a one year low of $99.03 and a one year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating 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 business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter last year, the firm earned $2.90 EPS. PulteGroup's revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities analysts anticipate that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently declared 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 is Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.74%. This is a boost from PulteGroup's previous quarterly dividend of $0.20. PulteGroup's payout ratio is currently 6.49%.

Analyst Ratings Changes

Several analysts have issued reports on PHM shares. UBS Group boosted their price objective on PulteGroup from $148.00 to $154.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Wedbush restated a "neutral" rating and set a $115.00 price target on shares of PulteGroup in a report on Tuesday, October 22nd. Bank of America raised their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Oppenheimer cut their target price on shares of PulteGroup from $168.00 to $165.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. Finally, StockNews.com cut PulteGroup from a "buy" rating to a "hold" rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, PulteGroup currently has an average rating of "Moderate Buy" and a consensus target price of $144.50.

About PulteGroup

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.