Morse Asset Management Inc Sells 2,385 Shares of PulteGroup, Inc. (NYSE:PHM)

Morse Asset Management Inc cut its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 80.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 570 shares of the construction company's stock after selling 2,385 shares during the period. Morse Asset Management Inc's holdings in PulteGroup were worth $59,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PHM. Ameriflex Group Inc. bought a new position in PulteGroup in the fourth quarter worth approximately $37,000. TD Waterhouse Canada Inc. raised its position in shares of PulteGroup by 43.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 349 shares of the construction company's stock valued at $38,000 after purchasing an additional 105 shares during the period. American National Bank & Trust bought a new stake in shares of PulteGroup during the 1st quarter valued at $39,000. Quarry LP bought a new stake in shares of PulteGroup during the 4th quarter valued at $43,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of PulteGroup during the 1st quarter valued at $54,000. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $108.72 on Monday. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The stock has a market capitalization of $21.79 billion, a P/E ratio of 7.67, a PEG ratio of 0.32 and a beta of 1.29. The firm has a fifty day simple moving average of $104.20 and a two-hundred day simple moving average of $104.78. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The construction company reported $2.57 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $3.86 billion. During the same period last year, the company posted $3.10 EPS. On average, analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 17th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.81%. PulteGroup's dividend payout ratio is presently 6.21%.

Analyst Upgrades and Downgrades

PHM has been the topic of several recent analyst reports. Wedbush restated an "outperform" rating and set a $135.00 price objective on shares of PulteGroup in a research report on Tuesday, April 22nd. Barclays decreased their price objective on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. Evercore ISI raised their price objective on shares of PulteGroup from $161.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada decreased their price objective on shares of PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company lifted their price target on shares of PulteGroup from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $133.69.

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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