Park Avenue Securities LLC Sells 2,190 Shares of PulteGroup, Inc. $PHM

Key Points

• Park Avenue Securities LLC reduced its holdings in PulteGroup, selling 2,190 shares, resulting in a 5.5% decrease, leaving it with 37,586 shares valued at approximately $3.96 million.
• Several analysts have upgraded their ratings for PulteGroup stock, with a consensus target price increase to $136.46 and most analysts recommending a "buy" rating.
• PulteGroup announced a quarterly dividend of $0.22 per share, reflecting a 0.7% dividend yield and a payout ratio of 6.58%.

Park Avenue Securities LLC lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 5.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,586 shares of the construction company's stock after selling 2,190 shares during the period. Park Avenue Securities LLC's holdings in PulteGroup were worth $3,964,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of PulteGroup by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company's stock worth $358,395,000 after purchasing an additional 1,001,290 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of PulteGroup by 11.8% in the first quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company's stock worth $264,216,000 after buying an additional 271,917 shares during the last quarter. Nuveen LLC bought a new position in shares of PulteGroup during the 1st quarter valued at approximately $213,092,000. Price T Rowe Associates Inc. MD grew its stake in shares of PulteGroup by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,579,792 shares of the construction company's stock valued at $162,403,000 after acquiring an additional 276,077 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of PulteGroup by 25.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,397,409 shares of the construction company's stock valued at $143,654,000 after acquiring an additional 284,627 shares during the period. Hedge funds and other institutional investors own 89.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PHM shares. Raymond James Financial restated an "outperform" rating and issued a $140.00 price target (up from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. Zacks Research upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Oppenheimer increased their target price on PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 23rd. Seaport Res Ptn raised PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Finally, UBS Group increased their price target on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $136.46.

PulteGroup Stock Performance

NYSE PHM opened at $129.25 on Tuesday. The stock's fifty day moving average is $125.86 and its two-hundred day moving average is $110.50. The firm has a market capitalization of $25.50 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 0.39 and a beta of 1.26. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $149.47.

PulteGroup (NYSE:PHM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, beating the consensus estimate of $2.92 by $0.11. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the prior year, the company posted $3.83 EPS. The company's quarterly revenue was down 4.3% on a year-over-year basis. On average, research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th will be issued a $0.22 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend 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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