Charles Schwab Investment Management Inc. Reduces Stock Position in PulteGroup, Inc. (NYSE:PHM)

Charles Schwab Investment Management Inc. reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,331,662 shares of the construction company’s stock after selling 10,874 shares during the period. Charles Schwab Investment Management Inc.’s holdings in PulteGroup were worth $191,133,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Interval Partners LP bought a new position in PulteGroup during the 1st quarter valued at $1,206,000. Baader Bank Aktiengesellschaft acquired a new position in PulteGroup in the second quarter worth about $629,000. Canada Pension Plan Investment Board increased its holdings in PulteGroup by 54.4% in the first quarter. Canada Pension Plan Investment Board now owns 188,787 shares of the construction company’s stock valued at $22,771,000 after buying an additional 66,487 shares during the last quarter. Cetera Investment Advisers increased its holdings in PulteGroup by 128.4% in the first quarter. Cetera Investment Advisers now owns 94,588 shares of the construction company’s stock valued at $11,409,000 after buying an additional 53,175 shares during the last quarter. Finally, New Millennium Group LLC lifted its holdings in PulteGroup by 10,625.8% during the 3rd quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock worth $1,370,000 after buying an additional 9,457 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Insider Buying and Selling

In other news, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the transaction, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. This trade represents a 29.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PHM has been the subject of a number of research analyst reports. UBS Group boosted their price target on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Evercore ISI dropped their target price on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research report on Tuesday, October 22nd. Oppenheimer lowered their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Wolfe Research cut shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Stock Up 1.3 %

Shares of PulteGroup stock opened at $129.76 on Friday. PulteGroup, Inc. has a 1-year low of $86.59 and a 1-year high of $149.47. The company has a market capitalization of $26.61 billion, a P/E ratio of 9.57, a PEG ratio of 0.52 and a beta of 1.63. The business’s fifty day moving average price is $136.74 and its two-hundred day moving average price is $125.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.25. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.90 earnings per share. As a group, research analysts forecast that PulteGroup, Inc. will post 12.94 EPS for the current year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio (DPR) is currently 5.90%.

PulteGroup Company 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.