PulteGroup, Inc. $PHM Shares Sold by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC has significantly reduced its stake in PulteGroup, Inc. by 58.2%, selling 25,444 shares and now owning 18,278 shares valued at approximately $1.88 million.
• Analysts have shown positive sentiment towards PulteGroup, with multiple upgrades in price targets, including increases from $121 to $123 by JPMorgan and from $141 to $150 by UBS.
• PulteGroup recently announced a quarterly dividend of $0.22 per share, set to be paid on October 2nd, with an annualized yield of 0.6%.

Great Lakes Advisors LLC reduced its position in PulteGroup, Inc. (NYSE:PHM - Free Report) by 58.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 18,278 shares of the construction company's stock after selling 25,444 shares during the quarter. Great Lakes Advisors LLC's holdings in PulteGroup were worth $1,879,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group upped their price target on shares of PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Seaport Res Ptn raised shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 22nd. Zacks Research raised shares of PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Finally, Citigroup boosted their price objective on shares of PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $136.46.

PulteGroup Price Performance

PulteGroup stock opened at $138.74 on Friday. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The firm's 50-day simple moving average is $122.81 and its 200 day simple moving average is $109.04. The firm has a market capitalization of $27.37 billion, a PE ratio of 10.37, a P/E/G ratio of 0.40 and a beta of 1.27.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping the consensus estimate of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same period in the previous year, the firm earned $3.83 EPS. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities research analysts predict that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Tuesday, September 16th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, September 16th. PulteGroup's dividend payout ratio is 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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