Voya Investment Management LLC Cuts Position in PulteGroup, Inc. $PHM

Voya Investment Management LLC lowered its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 23.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,600 shares of the construction company’s stock after selling 13,720 shares during the period. Voya Investment Management LLC’s holdings in PulteGroup were worth $6,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PHM. Franklin Resources Inc. boosted its stake in shares of PulteGroup by 0.8% during the 2nd quarter. Franklin Resources Inc. now owns 12,290,631 shares of the construction company’s stock worth $1,296,170,000 after acquiring an additional 95,058 shares in the last quarter. Norges Bank acquired a new stake in PulteGroup in the second quarter valued at $404,339,000. First Trust Advisors LP increased its position in shares of PulteGroup by 27.2% in the second quarter. First Trust Advisors LP now owns 3,199,906 shares of the construction company’s stock valued at $337,462,000 after buying an additional 683,728 shares in the last quarter. Invesco Ltd. raised its stake in shares of PulteGroup by 0.9% during the 2nd quarter. Invesco Ltd. now owns 2,634,275 shares of the construction company’s stock worth $277,811,000 after buying an additional 23,051 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of PulteGroup by 13.1% in the 2nd quarter. Bank of America Corp DE now owns 1,755,241 shares of the construction company’s stock worth $185,108,000 after buying an additional 202,870 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PHM has been the subject of several recent research reports. Citigroup raised their target price on shares of PulteGroup from $132.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, October 1st. Bank of America cut their price objective on PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 10th. Barclays set a $115.00 target price on PulteGroup in a research note on Monday, December 8th. Zacks Research raised PulteGroup from a “strong sell” rating to a “hold” rating in a research report on Friday, August 29th. Finally, Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of PulteGroup in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, PulteGroup currently has a consensus rating of “Moderate Buy” and an average price target of $137.25.

PulteGroup Price Performance

PHM stock opened at $119.35 on Thursday. The stock has a market capitalization of $23.26 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 0.94 and a beta of 1.31. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.13. PulteGroup, Inc. has a 52-week low of $88.07 and a 52-week high of $142.11. The stock’s fifty day simple moving average is $121.82 and its 200-day simple moving average is $121.26.

PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.86 by $0.10. PulteGroup had a return on equity of 19.58% and a net margin of 14.93%.The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the firm posted $3.35 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts expect that PulteGroup, Inc. will post 12.32 EPS for the current year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, December 16th. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. PulteGroup’s payout ratio is currently 8.01%.

PulteGroup Company Profile

PulteGroup, Inc (NYSE: PHM) is a U.S.-based residential homebuilder that designs, constructs and sells single-family homes and develops master-planned communities. The company operates multiple national and regional brands that target different buyer segments, including first-time buyers, move-up buyers and active-adult customers. Its operations encompass land acquisition and development, home design and construction, community amenities and ongoing customer service and warranty programs.

PulteGroup markets homes under several well-known brands, such as Pulte Homes, Centex and Del Webb, among others, offering a range of product types from entry-level detached homes to larger, higher-end residences and age-restricted active-adult communities.