Transcend Capital Advisors LLC Trims Stock Position in PulteGroup, Inc. $PHM

Transcend Capital Advisors LLC cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 71.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,675 shares of the construction company’s stock after selling 6,714 shares during the quarter. Transcend Capital Advisors LLC’s holdings in PulteGroup were worth $282,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PHM. GAMMA Investing LLC raised its holdings in shares of PulteGroup by 38.9% in the 1st quarter. GAMMA Investing LLC now owns 3,043 shares of the construction company’s stock worth $313,000 after purchasing an additional 853 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of PulteGroup by 15.9% in 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 period. Ameritas Advisory Services LLC purchased a new position in shares of PulteGroup in the 1st quarter worth about $794,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of PulteGroup by 1.0% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,674 shares of the construction company’s stock worth $2,331,000 after purchasing an additional 216 shares during the period. Finally, Aaron Wealth Advisors LLC raised its holdings in shares of PulteGroup by 55.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 3,352 shares of the construction company’s stock worth $345,000 after purchasing an additional 1,201 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Weiss Ratings upgraded PulteGroup from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Bank of America lowered their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, October 10th. Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a research note on Friday, August 29th. Wells Fargo & Company increased their target price on PulteGroup from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $140.00 target price (up previously from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.67.

PulteGroup Price Performance

Shares of NYSE PHM opened at $119.02 on Friday. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $142.11. The business has a 50 day moving average price of $129.71 and a two-hundred day moving average price of $115.25. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13. The firm has a market cap of $23.20 billion, a PE ratio of 9.16, a price-to-earnings-growth ratio of 0.95 and a beta of 1.29.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, October 21st. The construction company reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the firm earned $3.35 EPS. PulteGroup’s quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal 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 given a $0.22 dividend. 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 presently 6.77%.

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.