PulteGroup, Inc. (NYSE:PHM) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 11.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,456 shares of the construction company's stock after selling 2,701 shares during the period. M&T Bank Corp's holdings in PulteGroup were worth $2,102,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PHM. Ameriflex Group Inc. acquired a new stake in PulteGroup in the 4th quarter worth about $37,000. TD Waterhouse Canada Inc. lifted its stake in shares of PulteGroup by 43.0% in 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 in the last quarter. American National Bank & Trust acquired a new position in shares of PulteGroup in the 1st quarter valued at about $39,000. Quarry LP acquired a new position in shares of PulteGroup in the 4th quarter valued at about $43,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of PulteGroup in the 1st quarter valued at about $54,000. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Stock Down 2.6%

PHM stock traded down $2.99 during midday trading on Monday, hitting $111.28. 490,889 shares of the company's stock were exchanged, compared to its average volume of 2,035,879. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $149.47. The firm has a 50 day moving average price of $103.47 and a 200-day moving average price of $104.75. The stock has a market capitalization of $22.30 billion, a price-to-earnings ratio of 7.87, a price-to-earnings-growth ratio of 0.33 and a beta of 1.29.

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

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 17th were issued a $0.22 dividend. 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 0.79%. PulteGroup's dividend payout ratio (DPR) is 6.21%.

Wall Street Analyst Weigh In

PHM has been the topic of several research analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $135.00 price objective on shares of PulteGroup in a research note on Tuesday, April 22nd. Barclays reduced their price objective on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Royal Bank Of Canada reduced their price objective on PulteGroup from $116.00 to $109.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. UBS Group reduced their price objective on PulteGroup from $151.00 to $141.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company raised their target price on PulteGroup from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $135.08.

PulteGroup 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.