Moors & Cabot Inc. Sells 2,478 Shares of PulteGroup, Inc. $PHM

Moors & Cabot Inc. reduced its position in shares of PulteGroup, Inc. (NYSE:PHM) by 44.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,037 shares of the construction company’s stock after selling 2,478 shares during the quarter. Moors & Cabot Inc.’s holdings in PulteGroup were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PHM. WPG Advisers LLC bought a new position in shares of PulteGroup during the 1st quarter worth $25,000. Hager Investment Management Services LLC lifted its stake in PulteGroup by 33.3% in the second quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock worth $44,000 after acquiring an additional 105 shares during the period. REAP Financial Group LLC grew its holdings in PulteGroup by 188.1% during the 2nd quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock worth $56,000 after acquiring an additional 348 shares in the last quarter. Quarry LP increased its position in 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 purchasing an additional 174 shares during the period. Finally, Reyes Financial Architecture Inc. increased its position in PulteGroup by 42.1% during the 1st quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company’s stock valued at $79,000 after purchasing an additional 228 shares during the period. 89.90% of the stock is owned by institutional investors.

PulteGroup Price Performance

NYSE PHM opened at $119.52 on Friday. The firm’s fifty day simple moving average is $128.22 and its two-hundred day simple moving average is $116.41. The firm has a market capitalization of $23.30 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.95 and a beta of 1.25. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $142.11.

PulteGroup (NYSE:PHM) last issued 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 firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the business posted $3.35 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup’s dividend payout ratio (DPR) is currently 6.77%.

Analyst Upgrades and Downgrades

PHM has been the subject of several research reports. Zacks Research raised shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Friday, August 29th. Oppenheimer upped their target price on PulteGroup from $132.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their target price on PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their price target on PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Finally, Wedbush restated an “outperform” rating and set a $150.00 price objective on shares of PulteGroup in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.67.

PulteGroup 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.