Corient Private Wealth LP Sells 37,179 Shares of PulteGroup, Inc. $PHM

Key Points

• Corient Private Wealth reduced its PulteGroup stake by 20.9%, selling 37,179 shares and retaining 140,490 shares valued at approximately $19.3 million. Institutional investors collectively own 89.9% of the company.
• Analyst sentiment remains positive, with PulteGroup carrying a “Moderate Buy” consensus rating and an average price target of $141.87. Recent upgrades include Weiss Ratings’ move to “Buy” and Benchmark’s “Strong Buy” rating.
• PulteGroup beat quarterly expectations with $2.48 in earnings per share and $3.98 billion in revenue, though revenue declined 9.6% year over year. The company also declared a quarterly dividend of $0.26 per share, representing a 0.9% annualized yield.

Corient Private Wealth LP trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 20.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,490 shares of the construction company's stock after selling 37,179 shares during the quarter. Corient Private Wealth LP owned 0.07% of PulteGroup worth $19,277,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. California State Teachers Retirement System increased its holdings in PulteGroup by 13,473.6% during the 2nd quarter. California State Teachers Retirement System now owns 37,204,217 shares of the construction company's stock worth $5,104,791,000 after purchasing an additional 36,930,125 shares in the last quarter. Franklin Resources Inc. raised its position in PulteGroup by 5.1% in the 4th quarter. Franklin Resources Inc. now owns 13,555,304 shares of the construction company's stock valued at $1,589,495,000 after buying an additional 655,033 shares during the last quarter. First Trust Advisors LP lifted its stake in PulteGroup by 7.8% during the 1st quarter. First Trust Advisors LP now owns 4,314,501 shares of the construction company's stock valued at $507,428,000 after acquiring an additional 313,581 shares in the last quarter. Norges Bank purchased a new position in PulteGroup during the 4th quarter worth $466,653,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of PulteGroup by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,146,857 shares of the construction company's stock worth $370,008,000 after acquiring an additional 26,790 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on PHM shares. Weiss Ratings upgraded shares of PulteGroup from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 21st. Barclays boosted their target price on PulteGroup from $123.00 to $124.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 23rd. Wolfe Research set a $129.00 price target on PulteGroup and gave the company an "outperform" rating in a research report on Monday, August 24th. Oppenheimer reissued an "outperform" rating on shares of PulteGroup in a research report on Tuesday, May 26th. Finally, Benchmark raised PulteGroup to a "strong-buy" rating in a research report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $141.87.

PulteGroup Stock Performance

NYSE:PHM opened at $119.09 on Tuesday. The company has a market capitalization of $22.32 billion, a P/E ratio of 12.16, a P/E/G ratio of 1.47 and a beta of 1.19. The business has a fifty day simple moving average of $126.95 and a two-hundred day simple moving average of $124.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.78 and a quick ratio of 0.78. PulteGroup, Inc. has a 1 year low of $108.49 and a 1 year high of $144.49.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.12. The firm had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $3.94 billion. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The business's revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.03 EPS. On average, analysts expect that PulteGroup, Inc. will post 10.07 earnings per share for the current year.

PulteGroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 15th. PulteGroup's payout ratio is currently 10.62%.

PulteGroup Profile

PulteGroup, Inc is a U.S. homebuilding company that designs, constructs and sells homes for a range of buyers, including first-time, move-up and active-adult customers. Its residential offerings include single-family homes, townhomes and communities in a variety of price ranges and styles.

The company operates through several well-known brands, including Pulte, Centex, Del Webb, DiVosta and American West Homes. Its communities are located across numerous metropolitan areas and regions in the United States, with operations spanning markets in the South, Southeast, Southwest, Midwest and West.

PulteGroup also provides mortgage lending and related title services to support home purchases through its financial-services operations.

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