Hennessy Advisors Inc. Lowers Stake in PulteGroup, Inc. $PHM

Hennessy Advisors Inc. lowered its stake in shares of PulteGroup, Inc. (NYSE:PHMFree Report) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,700 shares of the construction company’s stock after selling 400 shares during the quarter. Hennessy Advisors Inc.’s holdings in PulteGroup were worth $2,394,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. WPG Advisers LLC purchased a new stake in shares of PulteGroup during the 1st quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of PulteGroup during the 1st quarter valued at $54,000. Quarry LP raised its position in shares of PulteGroup by 43.8% during the 1st quarter. Quarry LP now owns 571 shares of the construction company’s stock valued at $59,000 after buying an additional 174 shares in the last quarter. Grove Bank & Trust raised its position in shares of PulteGroup by 46.2% during the 1st quarter. Grove Bank & Trust now owns 760 shares of the construction company’s stock valued at $78,000 after buying an additional 240 shares in the last quarter. Finally, Reyes Financial Architecture Inc. raised its position in PulteGroup by 42.1% in the 1st quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company’s stock worth $79,000 after purchasing an additional 228 shares during the period. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

PHM stock opened at $137.70 on Friday. The firm’s 50-day moving average price is $129.39 and its two-hundred day moving average price is $112.23. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The stock has a market capitalization of $27.17 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 0.40 and a beta of 1.29. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHMGet Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter in the previous year, the company earned $3.83 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were given a $0.22 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.6%. PulteGroup’s payout ratio is presently 6.58%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PHM shares. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Friday, August 29th. Citigroup lifted their target price on shares of PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $150.00 target price on shares of PulteGroup in a research report on Wednesday, August 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of PulteGroup in a research report on Saturday, September 27th. Finally, Seaport Res Ptn upgraded shares of PulteGroup from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.31.

Check Out Our Latest Stock Analysis on PHM

PulteGroup Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for PulteGroup (NYSE:PHM)

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