PulteGroup, Inc. (NYSE:PHM) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 7.4% in the third quarter, Holdings Channel reports. The fund owned 221,605 shares of the construction company’s stock after selling 17,758 shares during the period. Retirement Systems of Alabama’s holdings in PulteGroup were worth $31,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. WR Wealth Planners LLC lifted its holdings in shares of PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock worth $26,000 after purchasing an additional 82 shares during the period. Fortitude Family Office LLC raised its position in PulteGroup by 115.1% during the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after buying an additional 99 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of PulteGroup in the 3rd quarter worth $29,000. Rothschild Investment LLC acquired a new stake in shares of PulteGroup in the 2nd quarter worth $31,000. Finally, Candriam S.C.A. purchased a new stake in shares of PulteGroup in the second quarter valued at about $33,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PHM. Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of PulteGroup in a report on Tuesday, October 22nd. BTIG Research raised their price target on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price objective on PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a report on Friday. Oppenheimer cut their price objective on PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Barclays reaffirmed an “equal weight” rating and set a $140.00 price target (down from $150.00) on shares of PulteGroup in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.50.

PulteGroup Stock Down 1.9 %

PHM stock opened at $118.44 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. PulteGroup, Inc. has a 12 month low of $99.03 and a 12 month high of $149.47. The firm has a market capitalization of $24.29 billion, a PE ratio of 8.73, a P/E/G ratio of 0.50 and a beta of 1.62. The company’s 50 day simple moving average is $133.08 and its 200-day simple moving average is $127.14.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.25. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. PulteGroup’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.90 earnings per share. Equities analysts expect that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.74%. PulteGroup’s payout ratio is 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.