PulteGroup, Inc. (NYSE:PHM) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its position in PulteGroup, Inc. (NYSE:PHM) by 25.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,550 shares of the construction company’s stock after selling 525 shares during the quarter. Fisher Asset Management LLC’s holdings in PulteGroup were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP purchased a new position in shares of PulteGroup during the third quarter valued at approximately $66,485,000. KBC Group NV raised its holdings in PulteGroup by 1,020.0% in the 3rd quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock valued at $62,568,000 after acquiring an additional 397,003 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of PulteGroup by 19.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock worth $168,254,000 after purchasing an additional 250,937 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of PulteGroup by 8.6% during the second quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after purchasing an additional 235,826 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of PulteGroup by 35.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company’s stock valued at $123,649,000 after purchasing an additional 223,841 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Trading Down 0.9 %

Shares of PHM opened at $135.27 on Monday. PulteGroup, Inc. has a one year low of $86.59 and a one year high of $149.47. The stock has a 50-day moving average price of $136.20 and a 200 day moving average price of $126.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $27.74 billion, a P/E ratio of 9.98, a P/E/G ratio of 0.55 and a beta of 1.63.

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

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be given a $0.22 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.88 annualized dividend and a dividend yield of 0.65%. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s payout ratio is presently 6.49%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Evercore ISI decreased their price target on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. BTIG Research boosted their target price on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Bank of America increased their price target on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Wedbush reissued a “neutral” rating and set a $115.00 price objective on shares of PulteGroup in a research note on Tuesday, October 22nd. Finally, Wolfe Research lowered PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. 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 stock currently has an average rating of “Moderate Buy” and an average price target of $145.00.

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.