Westover Capital Advisors LLC Has $239,000 Stake in PulteGroup, Inc. (NYSE:PHM)

Key Points

• Westover Capital Advisors LLC has reduced its position in PulteGroup, Inc. by 77.1% in the first quarter, now owning 2,325 shares worth $239,000.
• PulteGroup reported quarterly earnings of $3.03 per share, exceeding analyst expectations, although revenue declined 4.3% year-over-year.
• Several analysts have increased their price targets for PulteGroup, with the consensus target now set at $134.15, reflecting a generally positive outlook on the stock.

Westover Capital Advisors LLC cut its stake in PulteGroup, Inc. (NYSE:PHM - Free Report) by 77.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,325 shares of the construction company's stock after selling 7,826 shares during the period. Westover Capital Advisors LLC's holdings in PulteGroup were worth $239,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PHM. Franklin Resources Inc. lifted its holdings in shares of 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 acquiring an additional 683,592 shares during the period. Geode Capital Management LLC lifted its holdings 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 during the period. Norges Bank bought a new position in shares of PulteGroup during the 4th quarter worth about $427,562,000. Northern Trust Corp lifted its holdings 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 during the period. 89.90% of the stock is owned by institutional investors.

PulteGroup Price Performance

Shares of PHM traded up $0.57 during mid-day trading on Monday, hitting $116.92. 1,569,080 shares of the company traded hands, compared to its average volume of 2,195,945. PulteGroup, Inc. has a one year low of $88.07 and a one 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 business has a 50-day moving average of $105.38 and a 200 day moving average of $105.02. The stock has a market capitalization of $23.07 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 0.34 and a beta of 1.29.

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, beating the consensus estimate of $2.92 by $0.11. PulteGroup had a net margin of 15.50% and a return on equity of 21.01%. The business had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.42 billion. During the same period in the prior year, the firm earned $3.83 earnings per share. PulteGroup's revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently commented on PHM shares. Citigroup raised their price objective on shares of PulteGroup from $128.00 to $132.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Seaport Res Ptn raised shares of PulteGroup from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 22nd. Royal Bank Of Canada increased their target price on shares of PulteGroup from $109.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Evercore ISI increased their target price on shares of PulteGroup from $161.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 23rd. Finally, Barclays dropped their target price on shares of PulteGroup from $100.00 to $98.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average 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.