Coastline Trust Co Sells 9,922 Shares of PulteGroup, Inc. $PHM

Key Points

• Coastline Trust Co has significantly reduced its stake in PulteGroup, selling 9,922 shares and leaving it with only 381 shares, representing a 96.3% decrease in holdings.
• PulteGroup reported an earnings per share (EPS) of $3.03 for the latest quarter, exceeding 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, scheduled for payment on October 2nd, with a current dividend yield of 0.7%.

Coastline Trust Co decreased its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 96.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 381 shares of the construction company's stock after selling 9,922 shares during the period. Coastline Trust Co's holdings in PulteGroup were worth $40,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PHM. WPG Advisers LLC purchased a new stake in PulteGroup in the first quarter worth $25,000. American National Bank & Trust purchased a new stake in shares of PulteGroup in the 1st quarter worth about $39,000. Catalyst Capital Advisors LLC bought a new stake in shares of PulteGroup during the 1st quarter valued at about $54,000. Quarry LP increased its position in shares of PulteGroup by 43.8% during the first quarter. Quarry LP now owns 571 shares of the construction company's stock valued at $59,000 after buying an additional 174 shares during the period. Finally, Sentry Investment Management LLC purchased a new position in shares of PulteGroup during the first quarter valued at about $61,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Up 1.9%

PHM stock opened at $131.21 on Monday. The company has a market cap of $25.89 billion, a price-to-earnings ratio of 9.81, a P/E/G ratio of 0.39 and a beta of 1.26. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. The business's 50-day moving average is $127.56 and its two-hundred day moving average is $111.22. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week 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 EPS for the quarter, beating the consensus estimate of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the prior year, the firm earned $3.83 EPS. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, analysts forecast that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th will be paid 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 is Tuesday, September 16th. PulteGroup's dividend payout ratio (DPR) is currently 6.58%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Seaport Res Ptn upgraded shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Royal Bank Of Canada raised their target price on PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Raymond James Financial reaffirmed an "outperform" rating and issued a $140.00 price target (up from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. Zacks Research upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Finally, Citigroup boosted their target price on shares of PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. One investment 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. According to MarketBeat, PulteGroup currently has a consensus rating of "Moderate Buy" and an average 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.

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