PulteGroup, Inc. $PHM Shares Sold by Moran Wealth Management LLC

Key Points

• Moran Wealth Management LLC reduced its stake in PulteGroup, Inc. by 4.9% during the second quarter, holding approximately 181,339 shares valued at $19.12 million.
• Wells Fargo & Company recently raised their price target for PulteGroup from $135.00 to $150.00, with several analysts expressing an overall positive outlook for the stock.
• PulteGroup announced a quarterly dividend of $0.22 per share, representing an annualized yield of 0.7% and a payout ratio of 6.58%.

Moran Wealth Management LLC lessened its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 181,339 shares of the construction company's stock after selling 9,288 shares during the quarter. Moran Wealth Management LLC owned about 0.09% of PulteGroup worth $19,124,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WPG Advisers LLC acquired a new stake in shares of PulteGroup in the first quarter valued at approximately $25,000. Hager Investment Management Services LLC increased its holdings in shares of PulteGroup by 33.3% in the second quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company's stock valued at $44,000 after purchasing an additional 105 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of PulteGroup in the first quarter valued at approximately $54,000. REAP Financial Group LLC increased its holdings in shares of PulteGroup by 188.1% in the second quarter. REAP Financial Group LLC now owns 533 shares of the construction company's stock valued at $56,000 after purchasing an additional 348 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of PulteGroup by 43.8% in the first quarter. Quarry LP now owns 571 shares of the construction company's stock valued at $59,000 after purchasing an additional 174 shares during the last quarter. Institutional investors and hedge funds own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on PulteGroup from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Wedbush reiterated an "outperform" rating and issued a $150.00 price objective on shares of PulteGroup in a research report on Wednesday, August 13th. JPMorgan Chase & Co. increased their price objective on PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Seaport Res Ptn upgraded PulteGroup from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 22nd. Finally, Royal Bank Of Canada increased their price objective on PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $136.92.

PulteGroup Trading Up 0.1%

PHM opened at $120.21 on Tuesday. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47. The business has a fifty day simple moving average of $130.53 and a 200-day simple moving average of $113.17. The firm has a market cap of $23.72 billion, a P/E ratio of 8.98, a P/E/G ratio of 0.35 and a beta of 1.29. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13.

PulteGroup (NYSE:PHM - Get Free Report) last released its quarterly earnings results 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 return on equity of 21.01% and a net margin of 15.50%.The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period last year, the business posted $3.83 earnings per share. The company's quarterly revenue was down 4.3% on a year-over-year basis. On average, equities analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current year.

PulteGroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th were given a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.7%. PulteGroup's 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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