PulteGroup, Inc. (NYSE:PHM) Stake Decreased by Royce & Associates LP

Key Points

• Royce & Associates LP reduced its stake in PulteGroup, Inc. by 5.5%, now holding 79,871 shares valued at approximately $8.21 million.
• Analysts have set a consensus target price of $134.15 for PulteGroup, with several ratings indicating a "Moderate Buy" sentiment.
• PulteGroup recently reported a $3.03 EPS for the quarter, exceeding expectations, despite a 4.3% decline in revenue year-over-year.

Royce & Associates LP trimmed its stake in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 5.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,871 shares of the construction company's stock after selling 4,643 shares during the quarter. Royce & Associates LP's holdings in PulteGroup were worth $8,211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Franklin Resources Inc. grew its stake in PulteGroup by 6.1% during the 4th quarter. Franklin Resources Inc. now owns 11,937,866 shares of the construction company's stock worth $1,300,034,000 after purchasing an additional 683,592 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of PulteGroup by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 5,120,878 shares of the construction company's stock worth $556,465,000 after acquiring an additional 64,947 shares in the last quarter. Norges Bank acquired a new position in shares of PulteGroup during the 4th quarter worth about $427,562,000. Northern Trust Corp boosted its position in shares of PulteGroup by 14.9% during the 4th quarter. Northern Trust Corp now owns 2,425,941 shares of the construction company's stock worth $264,185,000 after acquiring an additional 315,148 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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. 89.90% of the stock is owned by institutional investors and hedge funds.

PulteGroup Trading Up 0.5%

Shares of PulteGroup stock traded up $0.57 during trading hours on Monday, reaching $116.92. 1,569,080 shares of the company's stock were exchanged, compared to its average volume of 2,195,945. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $149.47. The firm has a market capitalization of $23.07 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 0.34 and a beta of 1.29. The company has a fifty day moving average of $105.38 and a 200-day moving average of $105.02. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

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, 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 company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same period last year, the company posted $3.83 earnings per share. The firm's revenue was down 4.3% compared to the same quarter last year. Sell-side analysts forecast that PulteGroup, Inc. will post 12.32 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 17th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.75%. The ex-dividend date was Tuesday, June 17th. PulteGroup's dividend payout ratio (DPR) is presently 6.58%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $140.00 price objective (up from $115.00) on shares of PulteGroup in a research report on Wednesday, July 23rd. Wedbush reiterated an "outperform" rating and set a $135.00 target price on shares of PulteGroup in a research report on Tuesday, April 22nd. Oppenheimer upped their price target on PulteGroup from $132.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, July 23rd. Barclays lowered their price target on PulteGroup from $100.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Finally, UBS Group increased their target price on PulteGroup from $141.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $134.15.

About PulteGroup

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.