Concurrent Investment Advisors LLC Decreases Position in PulteGroup, Inc. $PHM

Concurrent Investment Advisors LLC decreased its stake in PulteGroup, Inc. (NYSE:PHM) by 19.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,648 shares of the construction company’s stock after selling 1,564 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in PulteGroup were worth $701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cooper Financial Group boosted its position in PulteGroup by 1.4% in the 2nd quarter. Cooper Financial Group now owns 6,697 shares of the construction company’s stock valued at $706,000 after buying an additional 92 shares during the last quarter. Tocqueville Asset Management L.P. increased its holdings in PulteGroup by 2.0% during the 1st quarter. Tocqueville Asset Management L.P. now owns 5,062 shares of the construction company’s stock worth $520,000 after purchasing an additional 100 shares during the last quarter. Hager Investment Management Services LLC increased its holdings in PulteGroup by 33.3% during the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock worth $44,000 after purchasing an additional 105 shares during the last quarter. Ballentine Partners LLC increased its holdings in PulteGroup by 3.2% during the 2nd quarter. Ballentine Partners LLC now owns 3,630 shares of the construction company’s stock worth $383,000 after purchasing an additional 112 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in PulteGroup by 15.9% during the 1st quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company’s stock worth $93,000 after purchasing an additional 125 shares during the last quarter. 89.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Royal Bank Of Canada increased their price objective on shares of PulteGroup from $109.00 to $112.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 23rd. Zacks Research upgraded shares of PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Weiss Ratings restated a “hold (c+)” rating on shares of PulteGroup in a research note on Wednesday, October 8th. UBS Group boosted their price objective on PulteGroup from $141.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, Seaport Res Ptn raised PulteGroup from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 22nd. One 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 company’s stock. According to MarketBeat.com, PulteGroup currently has a consensus rating of “Moderate Buy” and an average target price of $136.92.

PulteGroup Price Performance

Shares of NYSE:PHM opened at $124.29 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $130.81 and a 200 day simple moving average of $113.62. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The company has a market cap of $24.52 billion, a PE ratio of 9.29, a P/E/G ratio of 0.36 and a beta of 1.29.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, beating analysts’ consensus estimates 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%.PulteGroup’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.83 earnings per share. On average, sell-side analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently announced 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 of this dividend was Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 0.7%. PulteGroup’s dividend payout ratio (DPR) is currently 6.58%.

About PulteGroup

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.