PulteGroup, Inc. (NYSE:PHM) Stock Position Reduced by Penserra Capital Management LLC

Penserra Capital Management LLC cut its holdings in PulteGroup, Inc. (NYSE:PHM) by 2.0% in the third quarter, Holdings Channel.com reports. The fund owned 6,328 shares of the construction company’s stock after selling 128 shares during the quarter. Penserra Capital Management LLC’s holdings in PulteGroup were worth $907,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Grove Bank & Trust lifted its stake in PulteGroup by 18.4% in the third quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after acquiring an additional 72 shares during the last quarter. WR Wealth Planners LLC lifted its stake in PulteGroup by 54.7% in the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. Cromwell Holdings LLC lifted its stake in PulteGroup by 17.2% in the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after acquiring an additional 83 shares during the last quarter. Concord Wealth Partners lifted its stake in PulteGroup by 1.7% in the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after acquiring an additional 83 shares during the last quarter. Finally, Lebenthal Global Advisors LLC lifted its stake in PulteGroup by 3.9% in the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after acquiring an additional 87 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Performance

NYSE PHM opened at $136.53 on Thursday. PulteGroup, Inc. has a twelve month low of $86.59 and a twelve month high of $149.47. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.14. The stock has a market cap of $28.00 billion, a P/E ratio of 10.07, a PEG ratio of 0.56 and a beta of 1.63. The company’s 50-day simple moving average is $136.51 and its 200 day simple moving average is $126.25.

PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.25. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.90 EPS. As a group, research analysts forecast that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.22 per share. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, December 17th. PulteGroup’s dividend payout ratio is currently 6.49%.

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of analyst reports. BTIG Research lifted their target price on shares of PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a research note on Tuesday, October 22nd. Bank of America boosted their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Wells Fargo & Company boosted their price objective on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Oppenheimer reduced their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

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.