Raleigh Capital Management Inc. Sells 244 Shares of PulteGroup, Inc. (NYSE:PHM)

Raleigh Capital Management Inc. lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 5.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 4,167 shares of the construction company’s stock after selling 244 shares during the period. Raleigh Capital Management Inc.’s holdings in PulteGroup were worth $454,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its holdings in shares of PulteGroup by 5.5% during the 3rd quarter. Franklin Resources Inc. now owns 11,254,274 shares of the construction company’s stock valued at $1,647,364,000 after purchasing an additional 585,735 shares in the last quarter. FMR LLC increased its position in PulteGroup by 102.3% during the third quarter. FMR LLC now owns 9,040,828 shares of the construction company’s stock worth $1,297,630,000 after buying an additional 4,571,757 shares during the last quarter. Greenhaven Associates Inc. lifted its position in shares of PulteGroup by 0.3% in the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after buying an additional 16,871 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of PulteGroup by 7.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,864,040 shares of the construction company’s stock worth $267,546,000 after buying an additional 135,391 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of PulteGroup by 10.0% during the 4th quarter. Nordea Investment Management AB now owns 1,424,119 shares of the construction company’s stock worth $155,856,000 after acquiring an additional 129,975 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PHM has been the topic of a number of recent analyst reports. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Wedbush upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a research note on Friday, January 3rd. The Goldman Sachs Group lowered their target price on shares of PulteGroup from $140.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company cut their target price on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, UBS Group upgraded shares of PulteGroup from a “neutral” rating to a “buy” rating and decreased their price target for the company from $154.00 to $148.00 in a report on Wednesday, January 8th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and an average target price of $144.14.

PulteGroup Stock Performance

PHM opened at $116.95 on Thursday. The stock’s 50 day simple moving average is $119.75 and its 200-day simple moving average is $127.34. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock has a market cap of $23.98 billion, a PE ratio of 8.62, a P/E/G ratio of 0.46 and a beta of 1.67. PulteGroup, Inc. has a 1 year low of $100.24 and a 1 year high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.25. The firm had revenue of $4.48 billion for 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%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.90 EPS. Sell-side analysts forecast that PulteGroup, Inc. will post 12.96 EPS for the current year.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were paid a $0.22 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $0.88 dividend on an annualized basis and a yield of 0.75%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is presently 6.49%.

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.