PulteGroup, Inc. $PHM Shares Sold by Patten Group Inc.

Patten Group Inc. decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 17.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,069 shares of the construction company’s stock after selling 656 shares during the quarter. Patten Group Inc.’s holdings in PulteGroup were worth $324,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Cooper Financial Group boosted its holdings in shares of PulteGroup by 1.4% during the second quarter. Cooper Financial Group now owns 6,697 shares of the construction company’s stock worth $706,000 after purchasing an additional 92 shares during the last quarter. Tocqueville Asset Management L.P. boosted its holdings in shares of PulteGroup by 2.0% during the first 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. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of PulteGroup by 0.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,635 shares of the construction company’s stock worth $1,227,000 after purchasing an additional 103 shares during the last quarter. Hager Investment Management Services LLC boosted its holdings in shares of PulteGroup by 33.3% during the second 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. Finally, Ballentine Partners LLC boosted its holdings in shares of PulteGroup by 3.2% during the second 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. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on PulteGroup from $121.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Oppenheimer increased their target price on PulteGroup from $132.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 23rd. UBS Group increased their target price on PulteGroup from $141.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 target price (up from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Finally, Citigroup increased their target price on PulteGroup from $132.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.67.

PulteGroup Trading Down 2.6%

NYSE:PHM opened at $120.10 on Thursday. The business’s 50-day moving average is $130.67 and its two-hundred day moving average is $114.06. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $142.11. The firm has a market capitalization of $23.70 billion, a PE ratio of 9.25, a price-to-earnings-growth 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.10. PulteGroup had a return on equity of 19.77% and a net margin of 14.93%.The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the company earned $3.35 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts predict that PulteGroup, Inc. will post 12.32 earnings per share 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 given a dividend of $0.22 per share. 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 payout ratio is presently 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.