Illinois Municipal Retirement Fund Sells 6,796 Shares of PulteGroup, Inc. $PHM

Illinois Municipal Retirement Fund trimmed its position in PulteGroup, Inc. (NYSE:PHM) by 9.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,796 shares of the construction company’s stock after selling 6,796 shares during the period. Illinois Municipal Retirement Fund’s holdings in PulteGroup were worth $7,752,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Lynch Investment Planning LLC bought a new position in shares of PulteGroup during the third quarter worth about $26,000. NFSG Corp acquired a new stake in PulteGroup in the 1st quarter valued at approximately $29,000. Evelyn Partners Investment Management Services Ltd acquired a new stake in PulteGroup in the 1st quarter valued at approximately $37,000. Mcdonald Partners LLC acquired a new stake in PulteGroup in the 2nd quarter valued at approximately $43,000. Finally, Compass Financial Management LLC bought a new stake in PulteGroup in the 2nd quarter valued at approximately $73,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PHM has been the topic of several research reports. The Goldman Sachs Group set a $138.00 target price on PulteGroup in a research note on Monday, October 12th. Weiss Ratings cut shares of PulteGroup from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, October 30th. Barclays decreased their price target on shares of PulteGroup from $110.00 to $109.00 and set an “equal weight” rating for the company in a research note on Friday, October 23rd. Wells Fargo & Company lowered their price objective on shares of PulteGroup from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, September 11th. Finally, Wolfe Research set a $129.00 price objective on shares of PulteGroup and gave the stock an “outperform” rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $136.76.

PulteGroup Stock Down 2.0%

Shares of PHM stock opened at $126.88 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s 50-day moving average is $120.01 and its 200-day moving average is $124.29. The stock has a market cap of $23.36 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 2.17 and a beta of 1.17. PulteGroup, Inc. has a 52-week low of $107.15 and a 52-week high of $144.49.

PulteGroup (NYSE:PHM) last issued its earnings results on Thursday, October 22nd. The construction company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($0.10). PulteGroup had a net margin of 11.24% and a return on equity of 14.29%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter last year, the business posted $2.96 earnings per share. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. Sell-side analysts predict that PulteGroup, Inc. will post 9.37 EPS for the current year.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th were paid a $0.26 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $1.04 annualized dividend and a yield of 0.8%. PulteGroup’s dividend payout ratio is currently 11.11%.

PulteGroup Company Profile

PulteGroup, Inc. is a U.S. homebuilding company that develops and builds residential communities. Its brands include Pulte Homes, Centex, Del Webb, DiVosta and John Wieland Homes and Neighborhoods, serving a range of buyers from first-time homeowners to active adults. The company traces its origins to 1950, when founder William J. Pulte began building homes in the Detroit area. PulteGroup has since expanded its homebuilding operations across numerous markets in the United States. In addition to constructing and selling homes, PulteGroup offers mortgage lending and related services through Pulte Mortgage and affiliated businesses.