Amundi Sells 642,407 Shares of PulteGroup, Inc. $PHM

Key Points

• Amundi reduced its ownership in PulteGroup by 39.3%, selling 642,407 shares and holding 994,155 shares by the end of the first quarter.
• PulteGroup reported earnings of $3.03 per share, exceeding expectations and showing a net margin of 15.50%, despite a 4.3% decline in quarterly revenue compared to the previous year.
• The company announced a quarterly dividend of $0.22, reflecting an annualized yield of 0.6% and a payout ratio of 6.58%.

Amundi trimmed its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 39.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 994,155 shares of the construction company's stock after selling 642,407 shares during the period. Amundi owned approximately 0.50% of PulteGroup worth $97,179,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Baird Financial Group Inc. increased its stake in PulteGroup by 0.9% during the 4th quarter. Baird Financial Group Inc. now owns 31,170 shares of the construction company's stock worth $3,394,000 after purchasing an additional 293 shares in the last quarter. Deutsche Bank AG increased its stake in PulteGroup by 14.3% during the 4th quarter. Deutsche Bank AG now owns 1,859,029 shares of the construction company's stock worth $202,448,000 after purchasing an additional 232,939 shares in the last quarter. FORA Capital LLC bought a new stake in PulteGroup during the 4th quarter worth approximately $1,305,000. First Sabrepoint Capital Management LP bought a new stake in PulteGroup during the 4th quarter worth approximately $2,722,000. Finally, Fiduciary Trust Co increased its stake in PulteGroup by 19.5% during the 4th quarter. Fiduciary Trust Co now owns 2,593 shares of the construction company's stock worth $282,000 after purchasing an additional 423 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Performance

Shares of PHM traded up $0.84 during midday trading on Monday, reaching $141.41. 1,904,827 shares of the stock were exchanged, compared to its average volume of 1,937,428. PulteGroup, Inc. has a twelve month low of $88.07 and a twelve month high of $149.47. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The company has a market cap of $27.90 billion, a P/E ratio of 10.57, a PEG ratio of 0.41 and a beta of 1.26. The stock's 50 day simple moving average is $121.20 and its 200 day simple moving average is $108.40.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share for the quarter, topping analysts' consensus estimates of $2.92 by $0.11. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter last year, the firm earned $3.83 earnings per share. The company's revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.6%. PulteGroup's dividend payout ratio (DPR) is currently 6.58%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PHM shares. Wells Fargo & Company raised their price target on shares of PulteGroup from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Citigroup increased their price objective on PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Raymond James Financial reissued an "outperform" rating and issued a $140.00 price objective (up previously from $115.00) on shares of PulteGroup in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price objective on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, PulteGroup currently has an average rating of "Moderate Buy" and a consensus price target of $136.46.

PulteGroup Company 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.