Janney Montgomery Scott LLC Sells 226,898 Shares of PulteGroup, Inc. (NYSE:PHM)

Janney Montgomery Scott LLC lowered its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 85.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,064 shares of the construction company's stock after selling 226,898 shares during the period. Janney Montgomery Scott LLC's holdings in PulteGroup were worth $4,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PHM. Norges Bank acquired a new position in PulteGroup in the fourth quarter worth about $427,562,000. Amundi boosted its stake in PulteGroup by 77.9% in the 4th quarter. Amundi now owns 1,636,562 shares of the construction company's stock valued at $180,775,000 after buying an additional 716,716 shares in the last quarter. Franklin Resources Inc. boosted its stake in PulteGroup by 6.1% in the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock valued at $1,300,034,000 after buying an additional 683,592 shares in the last quarter. Man Group plc grew its position in PulteGroup by 136.8% in the fourth quarter. Man Group plc now owns 988,963 shares of the construction company's stock valued at $107,698,000 after acquiring an additional 571,251 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in PulteGroup during the fourth quarter worth $47,133,000. Institutional investors own 89.90% of the company's stock.

Wall Street Analyst Weigh In

PHM has been the topic of several analyst reports. Barclays lowered their target price on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and issued a $135.00 target price on shares of PulteGroup in a research note on Tuesday, April 22nd. Wells Fargo & Company decreased their price target on PulteGroup from $140.00 to $120.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Seaport Res Ptn upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Royal Bank Of Canada decreased their target price on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $134.69.

PulteGroup Trading Down 1.9%

PulteGroup stock traded down $1.97 during trading hours on Wednesday, reaching $103.52. 1,667,794 shares of the company's stock traded hands, compared to its average volume of 2,020,448. The firm has a market capitalization of $20.75 billion, a price-to-earnings ratio of 7.30, a PEG ratio of 0.31 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 0.80. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The firm's 50 day moving average is $101.21 and its 200-day moving average is $105.40.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.10. PulteGroup had a net margin of 16.45% and a return on equity of 22.86%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period in the prior year, the business posted $3.10 earnings per share. On average, analysts predict that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Tuesday, June 17th. PulteGroup's dividend payout ratio (DPR) is currently 6.21%.

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.