Voya Financial Advisors Inc. Cuts Stock Position in PulteGroup, Inc. (NYSE:PHM)

Voya Financial Advisors Inc. cut its position in shares of PulteGroup, Inc. (NYSE:PHM) by 10.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,309 shares of the construction company’s stock after selling 283 shares during the period. Voya Financial Advisors Inc.’s holdings in PulteGroup were worth $331,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Grove Bank & Trust grew its position in PulteGroup by 18.4% during the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after acquiring an additional 72 shares during the last quarter. WR Wealth Planners LLC raised its position in PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares during the period. Cromwell Holdings LLC lifted its stake in PulteGroup by 17.2% in the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock worth $81,000 after purchasing an additional 83 shares during the last quarter. Concord Wealth Partners lifted its stake in PulteGroup by 1.7% in the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock worth $718,000 after purchasing an additional 83 shares during the last quarter. Finally, Lebenthal Global Advisors LLC boosted its position in PulteGroup by 3.9% during the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after buying an additional 87 shares during the period. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. BTIG Research boosted their target price on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their target price on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. UBS Group increased their price target on shares of PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Evercore ISI decreased their price objective on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.00.

PulteGroup Trading Down 0.9 %

Shares of PHM opened at $126.75 on Friday. The company’s fifty day simple moving average is $135.06 and its 200-day simple moving average is $126.85. The company has a market cap of $25.99 billion, a P/E ratio of 9.35, a P/E/G ratio of 0.53 and a beta of 1.62. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a twelve month low of $92.49 and a twelve month high of $149.47.

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

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.69%. PulteGroup’s dividend payout ratio is presently 5.90%.

PulteGroup 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.