PulteGroup, Inc. (NYSE:PHM) Shares Sold by Virtus Investment Advisers Inc.

Virtus Investment Advisers Inc. decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 32.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,261 shares of the construction company’s stock after selling 2,062 shares during the period. Virtus Investment Advisers Inc.’s holdings in PulteGroup were worth $612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in PHM. Wellington Management Group LLP lifted its holdings in PulteGroup by 0.7% during the third quarter. Wellington Management Group LLP now owns 35,191 shares of the construction company’s stock valued at $5,051,000 after purchasing an additional 258 shares in the last quarter. Wahed Invest LLC raised its position in shares of PulteGroup by 8.8% during the 3rd quarter. Wahed Invest LLC now owns 5,010 shares of the construction company’s stock worth $719,000 after purchasing an additional 405 shares during the last quarter. Systematic Financial Management LP lifted its stake in PulteGroup by 3.9% in the 3rd quarter. Systematic Financial Management LP now owns 130,257 shares of the construction company’s stock valued at $18,696,000 after buying an additional 4,840 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in PulteGroup by 25.8% in the 3rd quarter. Quantinno Capital Management LP now owns 58,124 shares of the construction company’s stock worth $8,343,000 after buying an additional 11,912 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in PulteGroup by 2.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 96,553 shares of the construction company’s stock worth $13,858,000 after buying an additional 2,177 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Price Performance

PHM stock opened at $127.86 on Friday. PulteGroup, Inc. has a 52-week low of $92.00 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 stock has a market cap of $26.22 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 0.55 and a beta of 1.62. The business has a fifty day moving average of $135.39 and a two-hundred day moving average of $126.80.

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

PulteGroup Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wedbush restated a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their price objective on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Bank of America upped their target price on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Wolfe Research cut shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Finally, BTIG Research boosted their price target on shares of PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, PulteGroup has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

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.