PulteGroup, Inc. $PHM Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its PulteGroup stake by 8.3% in the second quarter, selling 58,761 shares and retaining 648,075 shares worth approximately $88.9 million. Institutional investors collectively own 89.9% of PHM.
• Analysts remain broadly positive, with 13 Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $142.20.
• PulteGroup exceeded quarterly expectations with $2.48 EPS and $3.98 billion in revenue, though revenue fell 9.6% year over year. The company also declared a quarterly dividend of $0.26 per share, yielding about 0.8% annually.

Hsbc Holdings PLC cut its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 8.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 648,075 shares of the construction company's stock after selling 58,761 shares during the quarter. Hsbc Holdings PLC owned about 0.35% of PulteGroup worth $88,938,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cedar Mountain Advisors LLC grew its holdings in shares of PulteGroup by 1,650.0% during the first quarter. Cedar Mountain Advisors LLC now owns 210 shares of the construction company's stock worth $25,000 after buying an additional 198 shares during the last quarter. NFSG Corp purchased a new stake in PulteGroup during the 1st quarter valued at approximately $29,000. DV Equities LLC acquired a new stake in PulteGroup during the 4th quarter worth approximately $32,000. HHM Wealth Advisors LLC grew its stake in shares of PulteGroup by 158.5% in the 1st quarter. HHM Wealth Advisors LLC now owns 274 shares of the construction company's stock valued at $32,000 after purchasing an additional 168 shares during the last quarter. Finally, Lloyd Advisory Services LLC. purchased a new position in shares of PulteGroup in the 4th quarter valued at approximately $33,000. 89.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on PHM shares. Wells Fargo & Company upped their price target on PulteGroup from $140.00 to $150.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Weiss Ratings raised shares of PulteGroup from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 21st. Evercore restated an "outperform" rating and set a $162.00 price objective on shares of PulteGroup in a research report on Thursday, July 23rd. Wolfe Research set a $129.00 target price on shares of PulteGroup and gave the stock an "outperform" rating in a research note on Monday, August 24th. Finally, UBS Group reaffirmed a "buy" rating and issued a $166.00 target price on shares of PulteGroup in a report on Thursday, July 23rd. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $142.20.

PulteGroup Stock Up 0.2%

PulteGroup stock opened at $124.68 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $23.37 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.19. PulteGroup, Inc. has a fifty-two week low of $108.49 and a fifty-two week high of $144.49. The stock's fifty day moving average is $128.73 and its two-hundred day moving average is $125.01.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The construction company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.12. PulteGroup had a return on equity of 15.21% and a net margin of 11.62%.The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the company posted $3.03 EPS. The business's revenue was down 9.6% on a year-over-year basis. Analysts predict that PulteGroup, Inc. will post 10.12 EPS for the current fiscal year.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 15th. PulteGroup's dividend payout ratio (DPR) is 10.62%.

PulteGroup Profile

PulteGroup, Inc NYSE: PHM is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.

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