3Chopt Investment Partners LLC Trims Stake in PulteGroup, Inc. $PHM

Key Points

• 3Chopt Investment Partners LLC has significantly reduced its stake in PulteGroup, Inc. by 89.9%, selling 21,757 shares and now holding only 2,456 shares valued at $260,000.
• Several analysts have positive outlooks for PulteGroup, with upgrades in price targets; the average target is currently $136.92 and the stock is rated as a "Moderate Buy."
• PulteGroup recently announced a quarterly dividend of $0.22 per share, with an annualized dividend yield of 0.7% and a payout ratio of 6.58%.

3Chopt Investment Partners LLC decreased its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 89.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,456 shares of the construction company's stock after selling 21,757 shares during the period. 3Chopt Investment Partners LLC's holdings in PulteGroup were worth $260,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PHM. GAMMA Investing LLC grew its stake in shares of PulteGroup by 38.9% in the 1st quarter. GAMMA Investing LLC now owns 3,043 shares of the construction company's stock worth $313,000 after buying an additional 853 shares during the last quarter. Simon Quick Advisors LLC purchased a new stake in shares of PulteGroup in the 1st quarter worth approximately $408,000. NorthCrest Asset Manangement LLC grew its stake in shares of PulteGroup by 3.0% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 128,929 shares of the construction company's stock worth $13,254,000 after buying an additional 3,755 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of PulteGroup in the 1st quarter worth approximately $222,000. Finally, Dynamic Advisor Solutions LLC purchased a new stake in shares of PulteGroup in the 1st quarter worth approximately $237,000. Hedge funds and other institutional investors own 89.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PHM shares. Wedbush restated an "outperform" rating and issued a $150.00 price target on shares of PulteGroup in a research note on Wednesday, August 13th. Citigroup upped their price objective on PulteGroup from $132.00 to $143.00 and gave the company a "neutral" rating in a research report on Wednesday, October 1st. Evercore ISI set a $154.00 price objective on PulteGroup and gave the company an "in-line" rating in a research report on Tuesday. Royal Bank Of Canada upped their price objective on PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Finally, Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, PulteGroup currently has an average rating of "Moderate Buy" and a consensus target price of $136.92.

PulteGroup Price Performance

NYSE PHM opened at $119.92 on Friday. The business's fifty day moving average price is $130.52 and its 200-day moving average price is $112.93. The stock has a market capitalization of $23.66 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 0.36 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.11. The firm had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The company's revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.83 EPS. On average, equities analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup's dividend payout ratio is presently 6.58%.

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.

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