Seascape Capital Management Trims Stock Position in PulteGroup, Inc. $PHM

Key Points

• Seascape Capital Management reduced its stake in PulteGroup, Inc. by 17.1%, now holding 40,685 shares valued at approximately $4.29 million.
• PulteGroup recently announced a quarterly dividend of $0.22 per share, with a dividend yield of 0.7% and a payout ratio of 6.58%.
• Wall Street analysts have a consensus rating of "Moderate Buy" on PulteGroup, with an average price target of $136.46.

Seascape Capital Management lessened its holdings in shares of PulteGroup, Inc. (NYSE:PHM - Free Report) by 17.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,685 shares of the construction company's stock after selling 8,391 shares during the period. PulteGroup accounts for approximately 1.4% of Seascape Capital Management's holdings, making the stock its 26th biggest position. Seascape Capital Management's holdings in PulteGroup were worth $4,291,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PHM. Tocqueville Asset Management L.P. grew its holdings in PulteGroup by 2.0% during 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 in the last quarter. Golden State Wealth Management LLC boosted its position in PulteGroup by 15.9% in 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 in the last quarter. Signaturefd LLC raised 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 buying an additional 127 shares during the period. McGlone Suttner Wealth Management Inc. raised its stake in PulteGroup by 6.3% in the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 2,234 shares of the construction company's stock valued at $230,000 after purchasing an additional 133 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its stake in shares of PulteGroup by 2.8% in the 1st quarter. Kathmere Capital Management LLC now owns 5,202 shares of the construction company's stock worth $535,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 89.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PHM shares. Zacks Research upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a research note on Friday, August 29th. Wedbush reiterated an "outperform" rating and set a $150.00 target price on shares of PulteGroup in a research report on Wednesday, August 13th. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 target price (up previously from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. Royal Bank Of Canada raised their price target on PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their target price on PulteGroup from $121.00 to $123.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. One research 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $136.46.

PulteGroup Price Performance

Shares of NYSE PHM opened at $131.95 on Monday. PulteGroup, Inc. has a 1-year low of $88.07 and a 1-year high of $149.47. 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 firm's 50-day moving average price is $125.53 and its 200-day moving average price is $110.35. The firm has a market capitalization of $26.03 billion, a P/E ratio of 9.86, a P/E/G ratio of 0.39 and a beta of 1.27.

PulteGroup (NYSE:PHM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The construction company reported $3.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.11. The business had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.42 billion. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.83 EPS. Equities research analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Dividend Announcement

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. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.88 annualized dividend and a yield of 0.7%. PulteGroup's payout ratio is 6.58%.

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.

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