The Manufacturers Life Insurance Company Sells 1,232 Shares of PulteGroup, Inc. (NYSE:PHM)

The Manufacturers Life Insurance Company trimmed its position in shares of PulteGroup, Inc. (NYSE:PHM) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,527 shares of the construction company’s stock after selling 1,232 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of PulteGroup worth $18,591,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Grove Bank & Trust raised its position in PulteGroup by 18.4% during the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after purchasing an additional 72 shares during the last quarter. WR Wealth Planners LLC increased its stake in shares of PulteGroup by 54.7% during the second quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after buying an additional 82 shares during the period. Cromwell Holdings LLC raised its holdings in shares of PulteGroup by 17.2% during the third quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after acquiring an additional 83 shares in the last quarter. Concord Wealth Partners lifted its stake in PulteGroup by 1.7% in the third quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock worth $718,000 after acquiring an additional 83 shares during the period. Finally, Lebenthal Global Advisors LLC boosted its holdings in PulteGroup by 3.9% in the second quarter. Lebenthal Global Advisors LLC now owns 2,329 shares of the construction company’s stock valued at $256,000 after acquiring an additional 87 shares in the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

Shares of PulteGroup stock opened at $135.27 on Friday. PulteGroup, Inc. has a 1 year low of $86.59 and a 1 year high of $149.47. The firm’s 50-day moving average is $136.20 and its 200 day moving average is $126.52. The stock has a market cap of $27.74 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 0.56 and a beta of 1.63. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.73 and a quick ratio of 0.73.

PulteGroup (NYSE:PHM) last issued its earnings results on Tuesday, October 22nd. The construction company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.25. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the previous year, the company earned $2.90 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Sell-side analysts anticipate that PulteGroup, Inc. will post 12.94 EPS for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 0.65%. PulteGroup’s dividend payout ratio is 5.90%.

Analysts Set New Price Targets

PHM has been the subject of several research reports. Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. Wedbush reissued a “neutral” rating and issued a $115.00 price target on shares of PulteGroup in a research note on Tuesday, October 22nd. Oppenheimer cut their price objective on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Bank of America increased their target price on PulteGroup from $138.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, UBS Group raised their target price on PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $145.00.

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.