Fiduciary Family Office LLC Cuts Stock Holdings in PulteGroup, Inc. $PHM

Key Points

• Fiduciary Family Office LLC reduced its holdings in PulteGroup, Inc. by 40.7%, now owning 5,932 shares valued at approximately $626,000.
• Despite the reduction in holdings, various hedge funds have increased or added to their positions in PulteGroup, indicating a continued interest with 89.90% of the stock owned by institutional investors.
• PulteGroup's stock recently opened at $123.39 and the company reported earnings of $3.03 per share, exceeding estimates, while also declaring a quarterly dividend of $0.22.

Fiduciary Family Office LLC reduced its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 40.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,932 shares of the construction company's stock after selling 4,076 shares during the period. Fiduciary Family Office LLC's holdings in PulteGroup were worth $626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. WPG Advisers LLC purchased a new position in PulteGroup in the first quarter valued at $25,000. Hager Investment Management Services LLC increased its stake in shares of PulteGroup by 33.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company's stock valued at $44,000 after purchasing an additional 105 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of PulteGroup in the 1st quarter valued at about $54,000. REAP Financial Group LLC raised its stake in shares of PulteGroup by 188.1% during the 2nd quarter. REAP Financial Group LLC now owns 533 shares of the construction company's stock worth $56,000 after buying an additional 348 shares during the period. Finally, Quarry LP lifted its holdings in 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 purchasing an additional 174 shares in the last quarter. 89.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PHM shares. Evercore ISI set a $154.00 target price on shares of PulteGroup and gave the stock an "in-line" rating in a research note on Tuesday, October 7th. Weiss Ratings reissued a "hold (c+)" rating on shares of PulteGroup in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of PulteGroup from $121.00 to $123.00 and gave the company an "overweight" 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 note on Friday, August 29th. Finally, Wedbush reissued an "outperform" rating and issued a $150.00 price target on shares of PulteGroup in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $136.92.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $123.39 on Tuesday. The stock has a market capitalization of $24.34 billion, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 0.37 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.77 and a quick ratio of 0.77. The business has a 50-day moving average of $130.88 and a 200 day moving average of $113.95. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.42 billion. During the same quarter in the prior year, the company earned $3.83 earnings per share. The business's quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side 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 was paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 16th. PulteGroup's dividend payout ratio (DPR) is currently 6.58%.

About PulteGroup

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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