State of Wyoming Has $247,000 Position in PulteGroup, Inc. $PHM

Key Points

• The State of Wyoming reduced its holdings in PulteGroup, Inc. by 44.7%, owning 2,399 shares valued at $247,000 as of the latest SEC filing.
• PulteGroup received several positive rating changes from equities analysts, with price objectives increased to as high as $150.00 and an overall average price target of $136.46.
• The company announced a quarterly dividend of $0.22 per share, reflecting an annualized dividend of $0.88 and a yield of 0.7%.

State of Wyoming cut its holdings in PulteGroup, Inc. (NYSE:PHM - Free Report) by 44.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,399 shares of the construction company's stock after selling 1,942 shares during the quarter. State of Wyoming's holdings in PulteGroup were worth $247,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameriflex Group Inc. acquired a new position in shares of PulteGroup in the 4th quarter valued at approximately $37,000. American National Bank & Trust acquired a new position in shares of PulteGroup in the 1st quarter valued at approximately $39,000. Catalyst Capital Advisors LLC acquired a new position in shares of PulteGroup in the 1st quarter valued at approximately $54,000. Sentry Investment Management LLC acquired a new position in shares of PulteGroup in the 1st quarter valued at approximately $61,000. Finally, Grove Bank & Trust grew its position in shares of PulteGroup by 46.2% in the 1st quarter. Grove Bank & Trust now owns 760 shares of the construction company's stock valued at $78,000 after purchasing an additional 240 shares during the period. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Zacks Research upgraded PulteGroup from a "strong sell" rating to a "hold" rating in a research report on Friday, August 29th. Wedbush reiterated an "outperform" rating and issued a $150.00 price objective on shares of PulteGroup in a research report on Wednesday, August 13th. Wells Fargo & Company boosted their price objective on PulteGroup from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Tuesday. Raymond James Financial restated 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. Finally, Oppenheimer boosted their target price on PulteGroup from $132.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $136.46.

PulteGroup Trading Up 1.0%

NYSE PHM opened at $133.40 on Thursday. The stock has a market capitalization of $26.32 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 0.39 and a beta of 1.27. The stock's 50 day moving average price is $119.12 and its two-hundred day moving average price is $107.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 0.77. PulteGroup, Inc. has a 52 week low of $88.07 and a 52 week high of $149.47.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $4.42 billion. During the same quarter in the prior year, the business posted $3.83 EPS. The business's revenue was down 4.3% compared to the same quarter last year. As a group, analysts anticipate that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.7%. PulteGroup's dividend payout ratio is currently 6.58%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.