Geneos Wealth Management Inc. Lowers Holdings in PulteGroup, Inc. $PHM

Key Points

• Geneos Wealth Management Inc. has drastically reduced its holdings in PulteGroup, Inc. by 87.7%, selling 18,377 shares, leaving them with just 2,567 shares valued at $264,000.
• Despite this significant sell-off, other institutional investors like Tocqueville Asset Management and Golden State Wealth Management have increased their stakes in PulteGroup during the same quarter.
• PulteGroup's recent performance includes a reported earnings per share (EPS) of $3.03, exceeding the consensus estimate, even as revenues decreased by 4.3% compared to the previous year.

Geneos Wealth Management Inc. decreased its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 87.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,567 shares of the construction company's stock after selling 18,377 shares during the period. Geneos Wealth Management Inc.'s holdings in PulteGroup were worth $264,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tocqueville Asset Management L.P. lifted its stake in shares of PulteGroup by 2.0% in the first quarter. Tocqueville Asset Management L.P. now owns 5,062 shares of the construction company's stock worth $520,000 after buying an additional 100 shares in the last quarter. Golden State Wealth Management LLC lifted its position in PulteGroup by 15.9% in the 1st quarter. Golden State Wealth Management LLC now owns 909 shares of the construction company's stock valued at $93,000 after acquiring an additional 125 shares in the last quarter. Signaturefd LLC boosted its stake in PulteGroup by 1.9% during the 1st quarter. Signaturefd LLC now owns 6,644 shares of the construction company's stock valued at $683,000 after purchasing an additional 127 shares during the last quarter. McGlone Suttner Wealth Management Inc. boosted its stake in PulteGroup by 6.3% during the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 2,234 shares of the construction company's stock valued at $230,000 after purchasing an additional 133 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its holdings in shares of PulteGroup by 2.8% in the 1st quarter. Kathmere Capital Management LLC now owns 5,202 shares of the construction company's stock worth $535,000 after purchasing an additional 140 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Citigroup upped their price target on PulteGroup from $128.00 to $132.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Zacks Research raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a report on Friday, August 29th. Wedbush reissued an "outperform" rating and set a $150.00 price objective on shares of PulteGroup in a report on Wednesday, August 13th. Royal Bank Of Canada increased their price objective on shares of PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. 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. According to MarketBeat, PulteGroup currently has an average rating of "Moderate Buy" and an average price target of $136.46.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $134.70 on Tuesday. The company has a market cap of $26.58 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.40 and a beta of 1.27. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. 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 firm's fifty day moving average is $123.90 and its two-hundred day moving average is $109.55.

PulteGroup (NYSE:PHM - Get Free Report) last issued its 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. The firm had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The business's revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.83 earnings per share. As a group, analysts anticipate that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Tuesday, September 16th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 0.7%. PulteGroup's dividend payout ratio is presently 6.58%.

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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