Elo Mutual Pension Insurance Co Reduces Position in PulteGroup, Inc. $PHM

Elo Mutual Pension Insurance Co decreased its position in PulteGroup, Inc. (NYSE:PHM) by 31.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 10,850 shares of the construction company’s stock after selling 5,071 shares during the period. Elo Mutual Pension Insurance Co’s holdings in PulteGroup were worth $1,144,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PHM. Citigroup lifted their price objective on PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. Wedbush reaffirmed an “outperform” rating and issued a $150.00 price target on shares of PulteGroup in a research note on Tuesday, October 21st. Evercore ISI cut their price target on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 22nd. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. Finally, Wells Fargo & Company raised their target price on shares of PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, PulteGroup currently has an average rating of “Moderate Buy” and an average target price of $133.67.

PulteGroup Price Performance

Shares of PHM stock opened at $127.59 on Friday. The stock has a market cap of $24.87 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.95 and a beta of 1.25. The business’s fifty day moving average is $123.66 and its 200 day moving average is $117.98. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $142.11. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13.

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

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a yield of 0.8%. PulteGroup’s payout ratio is presently 8.01%.

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.