First Hawaiian Bank Cuts Stake in PulteGroup, Inc. (NYSE:PHM)

First Hawaiian Bank cut its holdings in shares of PulteGroup, Inc. (NYSE:PHM) by 48.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,450 shares of the construction company’s stock after selling 2,287 shares during the quarter. First Hawaiian Bank’s holdings in PulteGroup were worth $267,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Fortitude Family Office LLC raised its position in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after purchasing an additional 99 shares during the period. Transcendent Capital Group LLC bought a new position in shares of PulteGroup during the third quarter valued at about $29,000. JNBA Financial Advisors purchased a new position in shares of PulteGroup in the third quarter worth about $43,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of PulteGroup by 1,059.3% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock valued at $45,000 after acquiring an additional 286 shares during the last quarter. Finally, Grove Bank & Trust boosted its holdings in PulteGroup by 18.4% during the 3rd 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 period. 89.90% of the stock is currently owned by institutional investors.

PulteGroup Price Performance

Shares of PHM stock opened at $107.62 on Friday. The business’s fifty day moving average is $122.03 and its 200 day moving average is $126.80. 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 $22.07 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 0.48 and a beta of 1.67. PulteGroup, Inc. has a twelve month low of $100.24 and a twelve month high of $149.47.

PulteGroup (NYSE:PHM) last issued 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. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The company had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same period last year, the business earned $2.90 EPS. PulteGroup’s quarterly revenue was up 11.8% compared to the same quarter last year. Research analysts expect that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were given a $0.22 dividend. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Tuesday, December 17th. PulteGroup’s payout ratio is currently 6.49%.

Analysts Set New Price Targets

PHM has been the topic of a number of analyst reports. BTIG Research lifted their price target on PulteGroup from $139.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup decreased their target price on shares of PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Oppenheimer dropped their price target on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI decreased their price objective on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, UBS Group upgraded shares of PulteGroup from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $154.00 to $148.00 in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and an average price target of $146.85.

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.