QRG Capital Management Inc. Decreases Stake in PulteGroup, Inc. $PHM

QRG Capital Management Inc. decreased its position in shares of PulteGroup, Inc. (NYSE:PHM) by 61.9% in the third quarter, HoldingsChannel reports. The firm owned 150,891 shares of the construction company’s stock after selling 245,235 shares during the quarter. QRG Capital Management Inc.’s holdings in PulteGroup were worth $19,937,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of PulteGroup in the second quarter worth $32,000. Rexford Capital Inc. purchased a new stake in PulteGroup in the second quarter valued at $35,000. Private Wealth Management Group LLC raised its stake in shares of PulteGroup by 281.7% during the 3rd quarter. Private Wealth Management Group LLC now owns 271 shares of the construction company’s stock valued at $36,000 after buying an additional 200 shares during the last quarter. Hager Investment Management Services LLC lifted its holdings in shares of PulteGroup by 33.3% in the 2nd quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock valued at $44,000 after buying an additional 105 shares during the period. Finally, True Wealth Design LLC boosted its stake in shares of PulteGroup by 229.6% in the third quarter. True Wealth Design LLC now owns 356 shares of the construction company’s stock worth $47,000 after buying an additional 248 shares during the last quarter. 89.90% of the stock is currently owned by institutional investors and hedge funds.

PulteGroup Trading Down 1.9%

Shares of PHM opened at $130.30 on Friday. PulteGroup, Inc. has a 12-month low of $88.07 and a 12-month high of $142.11. The firm has a market capitalization of $25.40 billion, a P/E ratio of 10.03, a P/E/G ratio of 1.08 and a beta of 1.33. The firm has a 50-day moving average price of $122.88 and a 200 day moving average price of $123.59. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.13.

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

PulteGroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 16th were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This is an increase from PulteGroup’s previous quarterly dividend of $0.22. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. PulteGroup’s dividend payout ratio is currently 8.01%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PHM shares. Royal Bank Of Canada reiterated a “sector perform” rating and set a $111.00 price target on shares of PulteGroup in a research report on Friday, January 9th. Wedbush reaffirmed an “outperform” rating and set a $150.00 target price on shares of PulteGroup in a report on Tuesday, October 21st. Evercore ISI lowered their price target on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 22nd. Citizens Jmp began coverage on shares of PulteGroup in a research report on Wednesday, January 7th. They issued a “market outperform” rating and a $145.00 price objective for the company. Finally, Bank of America dropped their target price on PulteGroup from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $138.85.

About PulteGroup

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.