Checchi Capital Advisers LLC reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 45.3% during the first quarter, Holdings Channel reports. The institutional investor owned 15,254 shares of the construction company’s stock after selling 12,648 shares during the quarter. Checchi Capital Advisers LLC’s holdings in PulteGroup were worth $427,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Burt Wealth Advisors purchased a new stake in PulteGroup in the fourth quarter worth about $26,000. CSat Investment Advisory L.P. lifted its holdings in PulteGroup by 34.2% in the fourth quarter. CSat Investment Advisory L.P. now owns 1,469 shares of the construction company’s stock worth $38,000 after buying an additional 374 shares during the period. Kwmg LLC purchased a new stake in PulteGroup in the first quarter worth about $45,000. Private Capital Group LLC lifted its holdings in PulteGroup by 103.8% in the first quarter. Private Capital Group LLC now owns 1,620 shares of the construction company’s stock worth $45,000 after buying an additional 825 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in PulteGroup by 1,702.0% in the first quarter. Valley National Advisers Inc. now owns 1,838 shares of the construction company’s stock worth $51,000 after buying an additional 1,736 shares during the period. 84.54% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:PHM opened at $31.59 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.61. PulteGroup, Inc. has a 12 month low of $20.64 and a 12 month high of $33.04. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of 8.80, a P/E/G ratio of 1.41 and a beta of 0.84.
PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, April 23rd. The construction company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.12. PulteGroup had a net margin of 9.97% and a return on equity of 21.65%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The firm’s revenue was up 1.4% on a year-over-year basis. On average, sell-side analysts forecast that PulteGroup, Inc. will post 3.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Friday, June 14th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, June 13th. PulteGroup’s dividend payout ratio (DPR) is presently 12.26%.
In other PulteGroup news, SVP James L. Ossowski sold 10,000 shares of PulteGroup stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $31.19, for a total value of $311,900.00. Following the completion of the sale, the senior vice president now owns 25,750 shares of the company’s stock, valued at approximately $803,142.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Robert Oshaughnessy sold 42,108 shares of PulteGroup stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $31.52, for a total transaction of $1,327,244.16. Following the completion of the sale, the chief financial officer now directly owns 334,213 shares of the company’s stock, valued at approximately $10,534,393.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,846 shares of company stock valued at $4,647,232. 0.49% of the stock is currently owned by insiders.
Several research firms have recently issued reports on PHM. Raymond James lowered shares of PulteGroup from an “outperform” rating to a “market perform” rating in a report on Thursday, February 14th. Zacks Investment Research downgraded shares of PulteGroup from a “hold” rating to a “sell” rating in a research report on Friday, February 1st. JPMorgan Chase & Co. raised shares of PulteGroup from an “underweight” rating to a “neutral” rating and raised their price target for the company from $24.00 to $25.50 in a research report on Wednesday, April 10th. ValuEngine raised shares of PulteGroup from a “sell” rating to a “hold” rating in a research report on Saturday, February 23rd. Finally, Credit Suisse Group set a $31.00 price target on shares of PulteGroup and gave the company a “buy” rating in a research report on Friday, February 15th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. PulteGroup presently has an average rating of “Hold” and an average price target of $28.53.
PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.
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