PulteGroup, Inc. (NYSE:PHM) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its holdings in PulteGroup, Inc. (NYSE:PHM) by 25.3% in the third quarter, HoldingsChannel.com reports. The firm owned 1,550 shares of the construction company’s stock after selling 525 shares during the period. Fisher Asset Management LLC’s holdings in PulteGroup were worth $223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Westfield Capital Management Co. LP acquired a new position in shares of PulteGroup in the 3rd quarter valued at about $66,485,000. KBC Group NV boosted its stake in PulteGroup by 1,020.0% in the third quarter. KBC Group NV now owns 435,925 shares of the construction company’s stock valued at $62,568,000 after acquiring an additional 397,003 shares during the period. Hsbc Holdings PLC grew its holdings in shares of PulteGroup by 19.6% during the second quarter. Hsbc Holdings PLC now owns 1,529,698 shares of the construction company’s stock valued at $168,254,000 after purchasing an additional 250,937 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of PulteGroup by 8.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,968,788 shares of the construction company’s stock worth $326,864,000 after purchasing an additional 235,826 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of PulteGroup by 35.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 861,487 shares of the construction company’s stock worth $123,649,000 after purchasing an additional 223,841 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

PHM has been the subject of a number of recent research reports. Wolfe Research downgraded PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Wells Fargo & Company increased their price objective on shares of PulteGroup from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Bank of America boosted their target price on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Oppenheimer lowered their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, BTIG Research boosted their price target on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

PulteGroup Stock Performance

NYSE:PHM opened at $135.27 on Monday. The company has a 50-day moving average of $136.20 and a 200-day moving average of $126.55. The firm has a market cap of $27.74 billion, a price-to-earnings ratio of 9.98, a price-to-earnings-growth ratio of 0.55 and a beta of 1.63. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. PulteGroup, Inc. has a twelve month low of $86.59 and a twelve month high of $149.47.

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

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.65%. PulteGroup’s payout ratio is 6.49%.

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.