Chevy Chase Trust Holdings LLC Decreases Stock Position in PulteGroup, Inc. (NYSE:PHM)

Chevy Chase Trust Holdings LLC cut its position in PulteGroup, Inc. (NYSE:PHM) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,283 shares of the construction company’s stock after selling 3,617 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of PulteGroup worth $15,972,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Baader Bank Aktiengesellschaft acquired a new stake in PulteGroup in the second quarter valued at $629,000. Trustmark National Bank Trust Department raised its holdings in PulteGroup by 39.8% in the third quarter. Trustmark National Bank Trust Department now owns 39,589 shares of the construction company’s stock valued at $5,682,000 after acquiring an additional 11,269 shares in the last quarter. New Millennium Group LLC raised its holdings in PulteGroup by 10,625.8% in the third quarter. New Millennium Group LLC now owns 9,546 shares of the construction company’s stock valued at $1,370,000 after acquiring an additional 9,457 shares in the last quarter. Vision Capital Corp acquired a new stake in PulteGroup in the third quarter valued at $22,348,000. Finally, Blair William & Co. IL raised its holdings in PulteGroup by 25.1% in the second quarter. Blair William & Co. IL now owns 34,127 shares of the construction company’s stock valued at $3,757,000 after acquiring an additional 6,858 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on PHM. Wolfe Research cut shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Oppenheimer dropped their target price on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Wedbush reissued a “neutral” rating and set a $115.00 target price on shares of PulteGroup in a report on Tuesday, October 22nd. Finally, BTIG Research increased their target price on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.00.

PulteGroup Stock Down 3.5 %

PHM stock opened at $129.30 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a fifty-two week low of $90.50 and a fifty-two week high of $149.47. The firm’s 50-day simple moving average is $135.63 and its 200 day simple moving average is $126.79. The stock has a market cap of $26.52 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 0.55 and a beta of 1.62.

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

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio is currently 6.49%.

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.