Quest Partners LLC Sells 7,488 Shares of PulteGroup, Inc. (NYSE:PHM)

Quest Partners LLC cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 43.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,756 shares of the construction company’s stock after selling 7,488 shares during the quarter. Quest Partners LLC’s holdings in PulteGroup were worth $1,400,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Greenhaven Associates Inc. lifted its stake in shares of PulteGroup by 0.3% in the third quarter. Greenhaven Associates Inc. now owns 5,593,179 shares of the construction company’s stock worth $802,789,000 after acquiring an additional 16,871 shares during the period. Pacer Advisors Inc. raised its holdings in PulteGroup by 8.6% during the 2nd 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. Hsbc Holdings PLC raised its holdings in 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 last quarter. Captrust Financial Advisors lifted its position in shares of PulteGroup by 18.4% in the 1st quarter. Captrust Financial Advisors now owns 1,085,939 shares of the construction company’s stock worth $130,986,000 after purchasing an additional 168,746 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of PulteGroup by 6.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,025,276 shares of the construction company’s stock valued at $147,158,000 after purchasing an additional 60,854 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

PulteGroup Trading Down 0.0 %

NYSE:PHM opened at $128.51 on Wednesday. The company has a market cap of $26.35 billion, a P/E ratio of 9.48, a P/E/G ratio of 0.52 and a beta of 1.63. PulteGroup, Inc. has a 1 year low of $86.59 and a 1 year high of $149.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73. The stock’s fifty day moving average price is $137.23 and its two-hundred day moving average price is $125.57.

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

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, December 17th. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. PulteGroup’s dividend payout ratio (DPR) is 5.90%.

Wall Street Analyst Weigh In

PHM has been the topic of several recent analyst reports. Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective on PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Barclays raised their target price on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of PulteGroup in a report on Tuesday, October 22nd. Finally, Evercore ISI cut their price target on PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $145.00.

Insider Transactions at PulteGroup

In other news, CFO Robert Oshaughnessy sold 71,007 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the sale, the chief financial officer now owns 89,323 shares in the company, valued at approximately $12,043,420.09. This trade represents a 44.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas J. Folliard sold 19,000 shares of PulteGroup stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $131.14, for a total transaction of $2,491,660.00. Following the sale, the director now directly owns 45,230 shares of the company’s stock, valued at $5,931,462.20. This represents a 29.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.75% 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.