Clark Capital Management Group Inc. Sells 142,113 Shares of PulteGroup, Inc. $PHM

Key Points

• Clark Capital Management Group Inc. sold 142,113 shares of PulteGroup, reducing its stake by 18.5% to a total of 624,148 shares worth approximately $64.16 million.
• PulteGroup reported $3.03 earnings per share for its most recent quarter, surpassing estimates of $2.92, despite a 4.3% decline in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.22 per share, with an annualized dividend yield of 0.7%.

Clark Capital Management Group Inc. lowered its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 18.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 624,148 shares of the construction company's stock after selling 142,113 shares during the period. Clark Capital Management Group Inc. owned 0.31% of PulteGroup worth $64,162,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PHM. WPG Advisers LLC bought a new position in shares of PulteGroup during the first quarter worth approximately $25,000. Ameriflex Group Inc. bought a new stake in shares of PulteGroup during the fourth quarter worth $37,000. American National Bank & Trust bought a new stake in shares of PulteGroup during the first quarter worth about $39,000. Catalyst Capital Advisors LLC bought a new stake in shares of PulteGroup during the first quarter worth about $54,000. Finally, Quarry LP grew its holdings in shares of PulteGroup by 43.8% during the first quarter. Quarry LP now owns 571 shares of the construction company's stock worth $59,000 after purchasing an additional 174 shares during the last quarter. 89.90% of the stock is owned by institutional investors.

PulteGroup Trading Up 2.1%

PHM stock traded up $2.92 during trading on Friday, hitting $140.53. 2,189,499 shares of the company traded hands, compared to its average volume of 1,902,655. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. PulteGroup, Inc. has a 1 year low of $88.07 and a 1 year high of $149.47. The company has a 50-day moving average of $120.49 and a 200-day moving average of $108.12. The firm has a market capitalization of $27.73 billion, a PE ratio of 10.50, a P/E/G ratio of 0.41 and a beta of 1.27.

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

PulteGroup Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently commented on PHM shares. UBS Group upped their target price on PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Zacks Research raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Friday, August 29th. Raymond James Financial reaffirmed an "outperform" rating and issued a $140.00 price objective (up previously from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Royal Bank Of Canada increased their target price on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Finally, Wedbush reiterated an "outperform" rating and set a $150.00 target price on shares of PulteGroup in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $136.46.

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.