PulteGroup, Inc. $PHM Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 8.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 648,075 shares of the construction company’s stock after selling 58,761 shares during the period. Hsbc Holdings PLC’s holdings in PulteGroup were worth $88,938,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. National Pension Service raised its stake in PulteGroup by 3.8% in the 4th quarter. National Pension Service now owns 507,443 shares of the construction company’s stock valued at $59,503,000 after purchasing an additional 18,455 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in shares of PulteGroup during the 4th quarter worth about $7,205,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of PulteGroup during the fourth quarter worth about $15,950,000. River Street Advisors LLC grew its holdings in shares of PulteGroup by 94.6% during the first quarter. River Street Advisors LLC now owns 18,208 shares of the construction company’s stock worth $2,141,000 after buying an additional 8,851 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of PulteGroup in the fourth quarter valued at approximately $466,653,000. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Stock Up 0.2%

Shares of NYSE:PHM opened at $124.68 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a 52-week low of $108.49 and a 52-week high of $144.49. The company has a 50 day moving average of $128.73 and a two-hundred day moving average of $125.01. The company has a market capitalization of $23.37 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.19.

PulteGroup (NYSE:PHM) last posted its earnings results on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.12. The business had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.94 billion. PulteGroup had a net margin of 11.62% and a return on equity of 15.21%. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.03 earnings per share. As a group, analysts forecast that PulteGroup, Inc. will post 10.12 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be issued a $0.26 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. PulteGroup’s payout ratio is currently 10.62%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PHM shares. Royal Bank Of Canada upped their price objective on shares of PulteGroup from $115.00 to $116.00 and gave the company a “sector perform” rating in a research note on Thursday, July 23rd. Citigroup reaffirmed a “market outperform” rating on shares of PulteGroup in a research note on Tuesday, August 18th. Weiss Ratings upgraded PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 21st. Evercore restated an “outperform” rating and set a $162.00 price objective on shares of PulteGroup in a report on Thursday, July 23rd. Finally, Barclays lifted their price objective on PulteGroup from $123.00 to $124.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.20.

PulteGroup Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.