B. Riley Wealth Advisors Inc. Reduces Holdings in PulteGroup, Inc. (NYSE:PHM)

B. Riley Wealth Advisors Inc. lowered its position in PulteGroup, Inc. (NYSE:PHM) by 6.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,164 shares of the construction company’s stock after selling 308 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in PulteGroup were worth $431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Certuity LLC purchased a new position in shares of PulteGroup in the fourth quarter worth about $245,000. Nordea Investment Management AB lifted its stake in PulteGroup by 4.0% in the 4th quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock worth $78,030,000 after purchasing an additional 28,833 shares in the last quarter. Personal CFO Solutions LLC acquired a new position in shares of PulteGroup during the 4th quarter worth approximately $719,000. Truist Financial Corp grew its position in shares of PulteGroup by 248.6% in the fourth quarter. Truist Financial Corp now owns 191,219 shares of the construction company’s stock valued at $19,738,000 after purchasing an additional 136,370 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of PulteGroup by 65.0% in the third quarter. American Century Companies Inc. now owns 224,978 shares of the construction company’s stock valued at $16,660,000 after purchasing an additional 88,638 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Up 1.0 %

PHM stock opened at $112.74 on Tuesday. PulteGroup, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $122.72. The company’s 50 day moving average price is $113.80 and its 200 day moving average price is $109.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $23.71 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 0.50 and a beta of 1.59.

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

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.80 annualized dividend and a dividend yield of 0.71%. PulteGroup’s dividend payout ratio is currently 6.41%.

Analyst Upgrades and Downgrades

PHM has been the subject of several analyst reports. Raymond James restated an “outperform” rating and issued a $135.00 target price (up from $120.00) on shares of PulteGroup in a report on Thursday, April 25th. Oppenheimer boosted their target price on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Citigroup raised their price target on shares of PulteGroup from $127.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Barclays increased their price objective on PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Zelman & Associates raised PulteGroup from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, PulteGroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.07.

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.