PulteGroup, Inc. $PHM Shares Sold by TD Asset Management Inc

TD Asset Management Inc lessened its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,375 shares of the construction company’s stock after selling 4,190 shares during the quarter. TD Asset Management Inc’s holdings in PulteGroup were worth $8,687,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. GAMMA Investing LLC grew its position in PulteGroup by 38.9% in the first quarter. GAMMA Investing LLC now owns 3,043 shares of the construction company’s stock valued at $313,000 after acquiring an additional 853 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of PulteGroup by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 23,726 shares of the construction company’s stock valued at $2,439,000 after purchasing an additional 345 shares during the period. Ellis Investment Partners LLC grew its holdings in PulteGroup by 2.8% during the 1st quarter. Ellis Investment Partners LLC now owns 26,323 shares of the construction company’s stock valued at $2,706,000 after purchasing an additional 724 shares in the last quarter. 1858 Wealth Management LLC increased its stake in PulteGroup by 24.3% during the 1st quarter. 1858 Wealth Management LLC now owns 2,919 shares of the construction company’s stock worth $300,000 after buying an additional 570 shares during the period. Finally, Edmp Inc. acquired a new position in PulteGroup in the 1st quarter worth $215,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Ratings Changes

PHM has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their target price on PulteGroup from $109.00 to $112.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 23rd. Wedbush restated an “outperform” rating and set a $150.00 price objective on shares of PulteGroup in a report on Wednesday, August 13th. Bank of America reduced their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, October 10th. Evercore ISI set a $154.00 price target on shares of PulteGroup and gave the stock an “in-line” rating in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company upped their price target on shares of PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average target price of $136.92.

PulteGroup Stock Performance

PulteGroup stock opened at $124.29 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The company has a fifty day moving average price of $130.81 and a two-hundred day moving average price of $113.80. The company has a market cap of $24.52 billion, a PE ratio of 9.29, a P/E/G ratio of 0.37 and a beta of 1.29.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same period last year, the firm posted $3.83 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 16th. PulteGroup’s dividend payout ratio is presently 6.58%.

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.