Patton Albertson Miller Group LLC Trims Position in PulteGroup, Inc. (NYSE:PHM)

Patton Albertson Miller Group LLC cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 7.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 74,843 shares of the construction company’s stock after selling 6,440 shares during the quarter. PulteGroup accounts for about 1.5% of Patton Albertson Miller Group LLC’s portfolio, making the stock its 12th largest holding. Patton Albertson Miller Group LLC’s holdings in PulteGroup were worth $10,742,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Swedbank AB acquired a new stake in shares of PulteGroup during the 1st quarter worth approximately $68,985,000. Westfield Capital Management Co. LP acquired a new stake in shares of PulteGroup during the 3rd quarter worth approximately $66,485,000. KBC Group NV grew its stake in shares of PulteGroup by 1,020.0% during the 3rd quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock worth $62,568,000 after purchasing an additional 397,003 shares during the period. Hsbc Holdings PLC grew its stake in shares of PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after purchasing an additional 250,937 shares during the period. Finally, Pacer Advisors Inc. grew its stake in shares of PulteGroup by 8.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after purchasing an additional 235,826 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Up 6.0 %

NYSE PHM opened at $137.61 on Tuesday. PulteGroup, Inc. has a 52 week low of $86.59 and a 52 week high of $149.47. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The business’s fifty day simple moving average is $136.69 and its 200-day simple moving average is $126.05. The firm has a market cap of $28.22 billion, a PE ratio of 10.15, a P/E/G ratio of 0.53 and a beta of 1.63.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the previous year, the firm earned $2.90 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts anticipate that PulteGroup, Inc. will post 12.94 earnings per share 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 issued a $0.22 dividend. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.64%. The ex-dividend date is Tuesday, December 17th. PulteGroup’s payout ratio is 5.90%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Oppenheimer dropped their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. BTIG Research lifted their price target on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Wedbush reissued a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research note on Tuesday, October 22nd. Finally, Bank of America lifted their price target on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

Insider Activity at PulteGroup

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares in the company, valued at $5,931,462.20. This represents a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.75% of the stock is owned by insiders.

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.