Legal Advantage Investments Inc. Cuts Holdings in PulteGroup, Inc. $PHM

Legal Advantage Investments Inc. reduced its position in PulteGroup, Inc. (NYSE:PHM) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,920 shares of the construction company’s stock after selling 100 shares during the quarter. Legal Advantage Investments Inc.’s holdings in PulteGroup were worth $413,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. WPG Advisers LLC purchased a new position in shares of PulteGroup in the 1st quarter worth $25,000. Hager Investment Management Services LLC raised its position in shares of PulteGroup by 33.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock worth $44,000 after buying an additional 105 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of PulteGroup in the 1st quarter worth $54,000. REAP Financial Group LLC raised its position in shares of PulteGroup by 188.1% in the 2nd quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock worth $56,000 after buying an additional 348 shares during the period. Finally, Quarry LP raised its position in shares of PulteGroup by 43.8% in the 1st quarter. Quarry LP now owns 571 shares of the construction company’s stock worth $59,000 after buying an additional 174 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Down 1.2%

Shares of PulteGroup stock opened at $119.92 on Friday. The business has a 50-day moving average of $130.52 and a 200-day moving average of $112.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $23.66 billion, a PE ratio of 8.96, a P/E/G ratio of 0.35 and a beta of 1.29. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.11. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The company’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $3.83 earnings per share. As a group, equities analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm 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 annualized dividend and a dividend yield of 0.7%. PulteGroup’s dividend payout ratio (DPR) is currently 6.58%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PHM shares. Seaport Res Ptn raised PulteGroup from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 22nd. UBS Group increased their price target on PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price target (up from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Wells Fargo & Company increased 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, Royal Bank Of Canada increased their price target on PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.92.

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.