Harbour Investments Inc. Sells 562 Shares of PulteGroup, Inc. $PHM

Harbour Investments Inc. lowered its holdings in PulteGroup, Inc. (NYSE:PHM) by 22.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,888 shares of the construction company’s stock after selling 562 shares during the quarter. Harbour Investments Inc.’s holdings in PulteGroup were worth $199,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in shares of 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 purchasing an additional 1,001,290 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of 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 purchasing an additional 271,917 shares in the last quarter. Nuveen LLC acquired a new position in shares of PulteGroup during the first quarter worth approximately $213,092,000. Price T Rowe Associates Inc. MD lifted its position in shares of 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 purchasing an additional 276,077 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of 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 purchasing an additional 284,627 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $150.00 target price on shares of PulteGroup in a research report on Tuesday. 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 report on Wednesday, July 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of PulteGroup in a report on Wednesday, October 8th. Citigroup increased their price objective on shares of PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of PulteGroup from $121.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $133.67.

PulteGroup Stock Down 2.6%

Shares of PHM stock opened at $120.10 on Thursday. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $142.11. 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 fifty day moving average of $130.67 and a 200-day moving average of $114.06. The company has a market capitalization of $23.70 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 0.36 and a beta of 1.29.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.10. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.31 billion. PulteGroup had a net margin of 14.93% and a return on equity of 19.77%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.35 EPS. As a group, equities research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. 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.