Redwood Investment Management LLC Has $1.56 Million Holdings in PulteGroup, Inc. (NYSE:PHM)

Redwood Investment Management LLC lowered its stake in PulteGroup, Inc. (NYSE:PHM) by 5.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,888 shares of the construction company’s stock after selling 748 shares during the period. Redwood Investment Management LLC’s holdings in PulteGroup were worth $1,555,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of PulteGroup in the 1st quarter valued at approximately $26,000. Benjamin Edwards Inc. acquired a new position in shares of PulteGroup in the 1st quarter worth approximately $26,000. Rakuten Securities Inc. acquired a new position in shares of PulteGroup in the 4th quarter worth approximately $37,000. Lindbrook Capital LLC boosted its holdings in shares of PulteGroup by 335.6% in the 4th quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after acquiring an additional 292 shares in the last quarter. Finally, ORG Partners LLC boosted its holdings in shares of PulteGroup by 3,463.6% in the 4th quarter. ORG Partners LLC now owns 392 shares of the construction company’s stock worth $40,000 after acquiring an additional 381 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Performance

NYSE:PHM traded down $1.18 during mid-day trading on Wednesday, hitting $132.00. The stock had a trading volume of 1,860,682 shares, compared to its average volume of 1,857,145. The company’s 50 day simple moving average is $115.25 and its 200 day simple moving average is $112.13. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $27.39 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.54 and a beta of 1.61. PulteGroup, Inc. has a twelve month low of $68.80 and a twelve month high of $135.62.

PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, July 23rd. The construction company reported $3.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.56. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a net margin of 16.75% and a return on equity of 25.67%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $3.00 earnings per share. On average, equities research analysts forecast that PulteGroup, Inc. will post 12.85 earnings per share for the current year.

PulteGroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 18th. This represents a $0.80 annualized dividend and a yield of 0.61%. PulteGroup’s dividend payout ratio (DPR) is presently 6.41%.

Analyst Ratings Changes

Several research firms have issued reports on PHM. Barclays upped their price objective on PulteGroup from $131.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. StockNews.com raised PulteGroup from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Citigroup reduced their price objective on PulteGroup from $129.00 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Zelman & Associates raised PulteGroup from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 24th. Finally, Wedbush reissued a “neutral” rating and issued a $115.00 price target (up previously from $105.00) on shares of PulteGroup in a research note on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, PulteGroup has an average rating of “Moderate Buy” and an average price target of $133.14.

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.