PulteGroup, Inc. (NYSE:PHM) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC cut its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,737 shares of the construction company’s stock after selling 100 shares during the period. Apollon Wealth Management LLC’s holdings in PulteGroup were worth $1,254,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PHM. US Bancorp DE increased its position in shares of PulteGroup by 13.6% during the first quarter. US Bancorp DE now owns 13,888 shares of the construction company’s stock valued at $1,675,000 after acquiring an additional 1,665 shares during the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of PulteGroup during the first quarter valued at about $358,000. Entropy Technologies LP acquired a new stake in shares of PulteGroup during the first quarter valued at about $419,000. Koshinski Asset Management Inc. acquired a new position in shares of PulteGroup in the first quarter valued at approximately $237,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of PulteGroup by 19.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 249,558 shares of the construction company’s stock valued at $30,102,000 after purchasing an additional 40,052 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Stock Up 1.6 %

Shares of NYSE:PHM opened at $129.48 on Friday. The company has a market capitalization of $26.55 billion, a PE ratio of 9.55, a P/E/G ratio of 0.52 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. The firm has a 50 day simple moving average of $137.29 and a 200-day simple moving average of $125.14.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, beating the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the prior year, the firm earned $2.90 EPS. PulteGroup’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, equities analysts predict that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be given a $0.22 dividend. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.68%. PulteGroup’s dividend payout ratio is 5.90%.

Analysts Set New Price Targets

PHM has been the subject of a number of research reports. Oppenheimer dropped their price objective on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of PulteGroup in a report on Tuesday, October 22nd. Wolfe Research cut shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Wells Fargo & Company lifted their price objective on shares of PulteGroup from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

Insider Activity at PulteGroup

In other PulteGroup news, Director Thomas J. Folliard sold 19,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $131.14, for a total value of $2,491,660.00. Following the transaction, the director now directly owns 45,230 shares of the company’s stock, valued at approximately $5,931,462.20. The trade was a 29.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert Oshaughnessy sold 71,007 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $134.83, for a total transaction of $9,573,873.81. Following the completion of the transaction, the chief financial officer now directly owns 89,323 shares in the company, valued at $12,043,420.09. This represents a 44.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is owned by insiders.

PulteGroup Company 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.