Wright Investors Service Inc. Sells 7,650 Shares of PulteGroup, Inc. (NYSE:PHM)

Wright Investors Service Inc. decreased its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 24.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,930 shares of the construction company’s stock after selling 7,650 shares during the quarter. Wright Investors Service Inc.’s holdings in PulteGroup were worth $2,606,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Fortitude Family Office LLC increased its stake in PulteGroup by 115.1% in the 3rd quarter. Fortitude Family Office LLC now owns 185 shares of the construction company’s stock worth $27,000 after acquiring an additional 99 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in shares of PulteGroup in the third quarter valued at $29,000. JNBA Financial Advisors bought a new stake in PulteGroup in the third quarter worth $43,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in PulteGroup by 1,059.3% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 313 shares of the construction company’s stock valued at $45,000 after purchasing an additional 286 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in PulteGroup by 18.4% during the third 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. 89.90% of the stock is owned by hedge funds and other institutional investors.

PulteGroup Stock Performance

Shares of NYSE:PHM opened at $108.94 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $22.34 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 0.48 and a beta of 1.67. The firm’s 50 day simple moving average is $121.62 and its 200-day simple moving average is $126.91. PulteGroup, Inc. has a one year low of $100.24 and a one year high of $149.47.

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

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were paid a $0.22 dividend. The ex-dividend date was Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 0.81%. PulteGroup’s dividend payout ratio is 6.49%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PHM shares. JPMorgan Chase & Co. decreased their target price on shares of PulteGroup from $162.00 to $155.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. BTIG Research raised their price objective on PulteGroup from $139.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Oppenheimer cut their target price on PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Citigroup decreased their price target on PulteGroup from $146.00 to $119.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Bank of America boosted their price objective on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, PulteGroup has a consensus rating of “Moderate Buy” and a consensus target price of $146.85.

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.