Corient Private Wealth LLC Sells 2,476 Shares of PulteGroup, Inc. (NYSE:PHM)

Corient Private Wealth LLC decreased its stake in PulteGroup, Inc. (NYSE:PHM) by 1.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 125,196 shares of the construction company’s stock after selling 2,476 shares during the quarter. Corient Private Wealth LLC’s holdings in PulteGroup were worth $12,923,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Signaturefd LLC increased its stake in PulteGroup by 3.7% during the 3rd quarter. Signaturefd LLC now owns 5,570 shares of the construction company’s stock valued at $412,000 after purchasing an additional 200 shares in the last quarter. Syon Capital LLC purchased a new position in shares of PulteGroup in the third quarter worth approximately $357,000. NBC Securities Inc. purchased a new position in PulteGroup during the third quarter valued at approximately $352,000. Versor Investments LP purchased a new position in PulteGroup during the third quarter valued at approximately $985,000. Finally, Retirement Systems of Alabama raised its position in shares of PulteGroup by 104.3% during the third quarter. Retirement Systems of Alabama now owns 330,418 shares of the construction company’s stock valued at $24,467,000 after buying an additional 168,686 shares during the last quarter. Institutional investors own 89.90% of the company’s stock.

Analyst Ratings Changes

PHM has been the topic of several recent analyst reports. Wedbush reiterated a “neutral” rating and set a $85.00 price objective on shares of PulteGroup in a research report on Wednesday, January 31st. Citigroup boosted their price target on shares of PulteGroup from $127.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. Oppenheimer boosted their price target on shares of PulteGroup from $138.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Barclays boosted their price target on shares of PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Raymond James restated an “outperform” rating and issued a $135.00 price target (up previously from $120.00) on shares of PulteGroup in a research report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and a consensus price target of $111.87.

PulteGroup Stock Performance

NYSE:PHM traded up $1.56 during midday trading on Friday, hitting $114.30. The company’s stock had a trading volume of 812,989 shares, compared to its average volume of 1,596,844. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.85. PulteGroup, Inc. has a fifty-two week low of $65.28 and a fifty-two week high of $122.72. The firm’s 50 day moving average is $114.27 and its 200-day moving average is $105.29. The firm has a market cap of $24.04 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.51 and a beta of 1.56.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, April 23rd. The construction company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.51. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.59 billion. Equities analysts anticipate that PulteGroup, Inc. will post 12.64 earnings per share for the current fiscal year.

PulteGroup declared that its board has initiated a stock buyback program on Tuesday, January 30th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, June 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.70%. PulteGroup’s dividend payout ratio is currently 6.41%.

PulteGroup Profile

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.