PulteGroup, Inc. $PHM Position Cut by Ieq Capital LLC

Key Points

• Ieq Capital LLC significantly reduced its holdings in PulteGroup, Inc. by 79.3% during the 1st quarter, now owning only 2,752 shares valued at approximately $283,000.
• Multiple analysts have raised their target prices for PulteGroup, with Citigroup setting it at $132.00 and Wells Fargo at $150.00, while the stock carries an average rating of "Moderate Buy".
• PulteGroup recently declared a quarterly dividend of $0.22 per share, yielding 0.6%, with the dividend payable on October 2nd.

Ieq Capital LLC reduced its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 79.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,752 shares of the construction company's stock after selling 10,568 shares during the quarter. Ieq Capital LLC's holdings in PulteGroup were worth $283,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in PulteGroup by 40.3% during the 1st quarter. JPMorgan Chase & Co. now owns 3,486,330 shares of the construction company's stock worth $358,395,000 after acquiring an additional 1,001,290 shares in the last quarter. Ameriprise Financial Inc. lifted its position in PulteGroup by 11.8% during the 1st quarter. Ameriprise Financial Inc. now owns 2,570,022 shares of the construction company's stock worth $264,216,000 after acquiring an additional 271,917 shares in the last quarter. Nuveen LLC acquired a new position in PulteGroup during the 1st quarter worth approximately $213,092,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in PulteGroup by 9.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,033,776 shares of the construction company's stock worth $221,478,000 after acquiring an additional 169,736 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in PulteGroup by 14.3% during the 4th quarter. Deutsche Bank AG now owns 1,859,029 shares of the construction company's stock worth $202,448,000 after acquiring an additional 232,939 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Up 0.6%

PulteGroup stock traded up $0.84 during midday trading on Monday, hitting $141.41. The stock had a trading volume of 1,904,827 shares, compared to its average volume of 1,937,428. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The stock has a market cap of $27.90 billion, a P/E ratio of 10.57, a P/E/G ratio of 0.41 and a beta of 1.26. PulteGroup, Inc. has a 12 month low of $88.07 and a 12 month high of $149.47. The business has a fifty day moving average price of $121.20 and a 200 day moving average price of $108.40.

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

PulteGroup Dividend Announcement

The firm also recently declared 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 of this dividend is Tuesday, September 16th. This represents a $0.88 annualized dividend and a dividend yield of 0.6%. PulteGroup's payout ratio is 6.58%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Royal Bank Of Canada lifted their target price on PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Zacks Research raised PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Friday, August 29th. Citigroup lifted their target price on PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. UBS Group lifted their target price on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 target price (up from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $136.46.

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.