MorganRosel Wealth Management LLC Lowers Position in PulteGroup, Inc. (NYSE:PHM)

MorganRosel Wealth Management LLC lessened its stake in PulteGroup, Inc. (NYSE:PHM) by 21.2% during the third quarter, Holdings Channel reports. The firm owned 7,876 shares of the construction company’s stock after selling 2,123 shares during the period. MorganRosel Wealth Management LLC’s holdings in PulteGroup were worth $1,130,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Benjamin Edwards Inc. bought a new position in shares of PulteGroup in the first quarter valued at approximately $26,000. WR Wealth Planners LLC boosted its holdings in shares of PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after buying an additional 82 shares during the last quarter. LRI Investments LLC purchased a new stake in PulteGroup during the first quarter worth about $28,000. Rothschild Investment LLC bought a new stake in PulteGroup in the second quarter worth about $31,000. Finally, Candriam S.C.A. bought a new position in shares of PulteGroup during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

PulteGroup Stock Up 0.4 %

Shares of NYSE:PHM opened at $139.20 on Friday. The firm has a fifty day moving average price of $133.46 and a two-hundred day moving average price of $121.53. The company has a market cap of $28.89 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 0.57 and a beta of 1.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.76 and a quick ratio of 0.76. PulteGroup, Inc. has a one year low of $68.80 and a one year high of $145.84.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, July 23rd. The construction company reported $3.83 EPS for the quarter, topping the consensus estimate of $3.27 by $0.56. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the previous year, the business earned $3.00 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Analysts anticipate that PulteGroup, Inc. will post 12.9 EPS for the current fiscal year.

PulteGroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s dividend payout ratio is currently 6.10%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a report on Friday, August 16th. Bank of America boosted their target price on PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Barclays increased their price target on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Wells Fargo & Company boosted their price objective on PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Wolfe Research downgraded shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.14.

Insider Buying and Selling at PulteGroup

In related news, CFO Robert Oshaughnessy sold 28,993 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total value of $3,748,504.97. Following the completion of the transaction, the chief financial officer now directly owns 160,330 shares in the company, valued at approximately $20,729,065.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the completion of the sale, the director now directly owns 45,230 shares in the company, valued at approximately $5,931,462.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Oshaughnessy sold 28,993 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $129.29, for a total transaction of $3,748,504.97. Following the completion of the sale, the chief financial officer now directly owns 160,330 shares of the company’s stock, valued at $20,729,065.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock worth $15,814,039 over the last three months. 0.83% of the stock is owned by insiders.

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.