Belpointe Asset Management LLC Sells 3,701 Shares of PulteGroup, Inc. $PHM

Key Points

• Belpointe Asset Management LLC has reduced its holdings in PulteGroup, Inc. by 44.5%, selling 3,701 shares and owning 4,613 shares valued at $486,000 at the end of the reporting period.
• PulteGroup recently reported an EPS of $3.03 for the last quarter, exceeding analysts' expectations by $0.11, despite a 4.3% decline in revenue compared to the same quarter last year.
• The company has announced a quarterly dividend of $0.22 per share, with an annualized dividend yield of 0.7%, and a dividend payout ratio of 6.58%.

Belpointe Asset Management LLC reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 44.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,613 shares of the construction company's stock after selling 3,701 shares during the period. Belpointe Asset Management LLC's holdings in PulteGroup were worth $486,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. WPG Advisers LLC bought a new position in shares of PulteGroup during the first quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new position in PulteGroup in the first quarter worth about $54,000. Quarry LP raised its holdings in PulteGroup by 43.8% in the first quarter. Quarry LP now owns 571 shares of the construction company's stock worth $59,000 after buying an additional 174 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of PulteGroup by 46.2% during the first quarter. Grove Bank & Trust now owns 760 shares of the construction company's stock valued at $78,000 after buying an additional 240 shares during the last quarter. Finally, Reyes Financial Architecture Inc. increased its position in shares of PulteGroup by 42.1% during the first quarter. Reyes Financial Architecture Inc. now owns 770 shares of the construction company's stock valued at $79,000 after acquiring an additional 228 shares in the last quarter. Institutional investors own 89.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of PulteGroup in a research report on Wednesday. Royal Bank Of Canada upped their price target on PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a report on Wednesday, July 23rd. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. UBS Group upped their target price on shares of PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI set a $154.00 price target on shares of PulteGroup and gave the stock an "in-line" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, PulteGroup currently has a consensus rating of "Moderate Buy" and a consensus price target of $136.46.

PulteGroup Stock Performance

Shares of PHM opened at $121.27 on Friday. The business has a 50-day simple moving average of $130.46 and a two-hundred day simple moving average of $112.83. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The stock has a market cap of $23.93 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 0.38 and a beta of 1.29.

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

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders 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 6.58%.

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.

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