Sequoia Financial Advisors LLC Sells 14,467 Shares of PulteGroup, Inc. $PHM

Sequoia Financial Advisors LLC lessened its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 65.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,548 shares of the construction company’s stock after selling 14,467 shares during the period. Sequoia Financial Advisors LLC’s holdings in PulteGroup were worth $796,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in PulteGroup by 40.3% during the first quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company’s stock worth $358,395,000 after acquiring an additional 1,001,290 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in PulteGroup by 11.8% during the first quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company’s stock worth $264,216,000 after acquiring an additional 271,917 shares in the last quarter. Nuveen LLC bought a new stake in PulteGroup during the first quarter worth about $213,092,000. Price T Rowe Associates Inc. MD raised its holdings in PulteGroup by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,579,792 shares of the construction company’s stock worth $162,403,000 after acquiring an additional 276,077 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in PulteGroup by 25.6% during the first quarter. Victory Capital Management Inc. now owns 1,397,409 shares of the construction company’s stock worth $143,654,000 after acquiring an additional 284,627 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PHM. Royal Bank Of Canada upped their price objective on PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 23rd. Wedbush restated an “outperform” rating and issued a $150.00 price objective on shares of PulteGroup in a research note on Wednesday, August 13th. Raymond James Financial restated an “outperform” rating and issued a $140.00 price objective (up previously from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. upped their price objective on PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Finally, Oppenheimer upped their price objective on PulteGroup from $132.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $136.92.

PulteGroup Price Performance

Shares of NYSE PHM opened at $124.29 on Friday. The firm has a market cap of $24.52 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 0.37 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, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. The business’s 50 day moving average is $130.81 and its 200-day moving average is $113.69.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.11. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.83 earnings per share. Equities research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were paid a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.7%. PulteGroup’s dividend payout ratio (DPR) is 6.58%.

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.