Park Place Capital Corp Sells 435 Shares of PulteGroup, Inc. (NYSE:PHM)

Park Place Capital Corp trimmed its stake in PulteGroup, Inc. (NYSE:PHM) by 11.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,348 shares of the construction company’s stock after selling 435 shares during the period. Park Place Capital Corp’s holdings in PulteGroup were worth $365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. lifted its holdings in PulteGroup by 54.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,580 shares of the construction company’s stock valued at $284,000 after buying an additional 912 shares during the period. AE Wealth Management LLC lifted its stake in shares of PulteGroup by 14.6% in the 2nd quarter. AE Wealth Management LLC now owns 8,418 shares of the construction company’s stock valued at $927,000 after purchasing an additional 1,075 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of PulteGroup by 23.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 18,364 shares of the construction company’s stock valued at $2,022,000 after purchasing an additional 3,446 shares in the last quarter. ProShare Advisors LLC increased its holdings in PulteGroup by 108.8% in the second quarter. ProShare Advisors LLC now owns 82,630 shares of the construction company’s stock worth $9,098,000 after purchasing an additional 43,052 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in PulteGroup by 61.3% in the second quarter. Public Sector Pension Investment Board now owns 7,817 shares of the construction company’s stock worth $861,000 after purchasing an additional 2,970 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Wall Street Analyst Weigh In

PHM has been the subject of a number of research reports. UBS Group upgraded shares of PulteGroup from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $154.00 to $148.00 in a report on Wednesday, January 8th. StockNews.com downgraded PulteGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Wedbush raised PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a research note on Friday, January 3rd. Oppenheimer lowered their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company reduced their price target on shares of PulteGroup from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $144.14.

PulteGroup Price Performance

PulteGroup stock opened at $116.95 on Thursday. PulteGroup, Inc. has a 52 week low of $100.24 and a 52 week high of $149.47. The company’s 50 day moving average price is $119.75 and its two-hundred day moving average price is $127.34. The stock has a market cap of $23.98 billion, a P/E ratio of 8.62, a P/E/G ratio of 0.46 and a beta of 1.67. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. PulteGroup’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company posted $2.90 earnings per share. On average, equities analysts predict that PulteGroup, Inc. will post 12.96 earnings per share for the current year.

PulteGroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.75%. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, December 17th. PulteGroup’s payout ratio is presently 6.49%.

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.