Inspire Advisors LLC Trims Stake in PulteGroup, Inc. $PHM

Inspire Advisors LLC lessened its stake in PulteGroup, Inc. (NYSE:PHM) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,037 shares of the construction company’s stock after selling 529 shares during the period. Inspire Advisors LLC’s holdings in PulteGroup were worth $953,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fidelis Capital Partners LLC lifted its stake in shares of PulteGroup by 1.0% in the 2nd quarter. Fidelis Capital Partners LLC now owns 8,760 shares of the construction company’s stock valued at $924,000 after purchasing an additional 85 shares during the period. Cooper Financial Group increased its holdings in PulteGroup by 1.4% in the second quarter. Cooper Financial Group now owns 6,697 shares of the construction company’s stock valued at $706,000 after buying an additional 92 shares in the last quarter. Tocqueville Asset Management L.P. increased its holdings in PulteGroup by 2.0% in the first quarter. Tocqueville Asset Management L.P. now owns 5,062 shares of the construction company’s stock valued at $520,000 after buying an additional 100 shares in the last quarter. Leavell Investment Management Inc. raised its position in shares of PulteGroup by 4.7% in the second quarter. Leavell Investment Management Inc. now owns 2,260 shares of the construction company’s stock worth $239,000 after acquiring an additional 102 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of PulteGroup by 0.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,635 shares of the construction company’s stock worth $1,227,000 after acquiring an additional 103 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Down 0.4%

NYSE PHM opened at $113.44 on Wednesday. The business has a fifty day moving average price of $125.66 and a 200 day moving average price of $117.27. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $22.11 billion, a P/E ratio of 8.73, a P/E/G ratio of 0.95 and a beta of 1.25. PulteGroup, Inc. has a one year low of $88.07 and a one year high of $142.11.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.10. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.31 billion. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.35 earnings per share. Research analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup’s dividend payout ratio is currently 6.77%.

Wall Street Analyst Weigh In

PHM has been the subject of several recent analyst reports. Citigroup lifted their price target on PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, October 1st. Raymond James Financial reissued an “outperform” rating and issued a $140.00 price objective (up from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Wedbush reaffirmed an “outperform” rating and set a $150.00 target price on shares of PulteGroup in a research note on Tuesday, October 21st. Royal Bank Of Canada increased their target price on PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.67.

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.