First Hawaiian Bank Reduces Position in PulteGroup, Inc. (NYSE:PHM)

First Hawaiian Bank lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 61.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,450 shares of the construction company’s stock after selling 3,831 shares during the quarter. First Hawaiian Bank’s holdings in PulteGroup were worth $296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Rakuten Securities Inc. purchased a new position in shares of PulteGroup during the 4th quarter worth $37,000. Lindbrook Capital LLC boosted its holdings in PulteGroup by 335.6% in the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after buying an additional 292 shares during the period. Security National Bank bought a new position in PulteGroup in the 4th quarter worth $40,000. ORG Partners LLC boosted its holdings in PulteGroup by 3,463.6% in the 4th quarter. ORG Partners LLC now owns 392 shares of the construction company’s stock worth $40,000 after buying an additional 381 shares during the period. Finally, Scarborough Advisors LLC bought a new position in PulteGroup in the 4th quarter worth $44,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Performance

PulteGroup stock opened at $111.57 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85. PulteGroup, Inc. has a 1-year low of $68.80 and a 1-year high of $122.72. The firm has a market capitalization of $23.47 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 0.50 and a beta of 1.59. The company’s 50-day moving average is $113.72 and its 200 day moving average is $109.16.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, April 23rd. The construction company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.51. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.59 billion. Research analysts forecast that PulteGroup, Inc. will post 12.64 EPS for the current year.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $0.80 dividend on an annualized basis and a yield of 0.72%. PulteGroup’s dividend payout ratio is currently 6.41%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PHM. Oppenheimer upped their target price on shares of PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Barclays boosted their price target on shares of PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Zelman & Associates upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 24th. Jefferies Financial Group boosted their price target on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, StockNews.com upgraded shares of PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $113.07.

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.