PulteGroup, Inc. (NYSE:PHM) Position Cut by Quest Partners LLC

Quest Partners LLC lessened its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 43.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,756 shares of the construction company's stock after selling 7,488 shares during the period. Quest Partners LLC's holdings in PulteGroup were worth $1,400,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Swedbank AB bought a new stake in PulteGroup in the first quarter valued at $68,985,000. KBC Group NV boosted its holdings in shares of PulteGroup by 1,020.0% during the 3rd quarter. KBC Group NV now owns 435,925 shares of the construction company's stock valued at $62,568,000 after acquiring an additional 397,003 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in PulteGroup by 19.6% in the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company's stock worth $168,254,000 after acquiring an additional 250,937 shares in the last quarter. Pacer Advisors Inc. raised its position 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 acquiring an additional 235,826 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in PulteGroup by 35.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company's stock worth $123,649,000 after buying an additional 223,841 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

Shares of PHM traded down $0.45 during mid-day trading on Wednesday, hitting $128.06. The company's stock had a trading volume of 1,133,059 shares, compared to its average volume of 1,830,992. The stock's 50-day moving average is $137.14 and its two-hundred day moving average is $125.65. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market capitalization of $26.26 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 0.52 and a beta of 1.63. PulteGroup, Inc. has a one year low of $86.59 and a one year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results 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. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company had revenue of $4.48 billion during the quarter, compared to analysts' expectations of $4.27 billion. During the same quarter in the prior year, the firm posted $2.90 earnings per share. The business's quarterly revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts anticipate that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.69%. 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 5.90%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Raymond James lifted their price objective on shares of PulteGroup from $135.00 to $145.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on PulteGroup from $141.00 to $152.00 and gave the stock an "overweight" rating in a research report on Thursday, July 25th. Bank of America raised their target price on PulteGroup from $138.00 to $160.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Oppenheimer lowered their price target on PulteGroup from $168.00 to $165.00 and set an "outperform" rating on the stock in a report on Wednesday, October 23rd. Finally, Evercore ISI decreased their price target on PulteGroup from $198.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $145.00.

Insiders Place Their Bets

In other PulteGroup news, CFO Robert Oshaughnessy sold 71,007 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $134.83, for a total transaction 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. This trade represents a 44.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas J. Folliard sold 19,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the director now owns 45,230 shares of the company's stock, valued at $5,931,462.20. The trade was a 29.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.75% of the company's stock.

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.