Geneos Wealth Management Inc. Sells 608 Shares of PulteGroup, Inc. (NYSE:PHM)

Geneos Wealth Management Inc. lessened its stake in PulteGroup, Inc. (NYSE:PHM) by 2.7% in the first quarter, HoldingsChannel reports. The firm owned 21,850 shares of the construction company’s stock after selling 608 shares during the period. Geneos Wealth Management Inc.’s holdings in PulteGroup were worth $2,636,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Certuity LLC bought a new stake in PulteGroup in the 4th quarter worth approximately $245,000. Nordea Investment Management AB grew its position in PulteGroup by 4.0% in the 4th quarter. Nordea Investment Management AB now owns 753,768 shares of the construction company’s stock worth $78,030,000 after purchasing an additional 28,833 shares during the period. Banque Cantonale Vaudoise grew its position in PulteGroup by 166.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock worth $1,586,000 after purchasing an additional 8,215 shares during the period. Personal CFO Solutions LLC bought a new stake in PulteGroup in the 4th quarter worth approximately $719,000. Finally, Truist Financial Corp grew its position in PulteGroup by 248.6% in the 4th quarter. Truist Financial Corp now owns 191,219 shares of the construction company’s stock worth $19,738,000 after purchasing an additional 136,370 shares during the period. Institutional investors own 89.90% of the company’s stock.

PulteGroup Price Performance

Shares of PHM traded up $6.69 during trading hours on Thursday, reaching $113.84. 2,619,650 shares of the stock traded hands, compared to its average volume of 1,779,568. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The company has a market cap of $23.95 billion, a P/E ratio of 9.11, a price-to-earnings-growth ratio of 0.47 and a beta of 1.61. The company’s 50-day moving average price is $113.05 and its two-hundred day moving average price is $109.87. PulteGroup, Inc. has a 52-week low of $68.80 and a 52-week high of $122.72.

PulteGroup (NYSE:PHM) last announced its quarterly 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. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.59 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. On average, analysts anticipate that PulteGroup, Inc. will post 12.64 earnings per share for the current year.

PulteGroup Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PHM shares. StockNews.com upgraded shares of PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday, April 24th. Jefferies Financial Group lifted their price target on shares of PulteGroup from $126.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Barclays lifted their price target on shares of PulteGroup from $126.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Zelman & Associates upgraded shares of PulteGroup from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 24th. Finally, Raymond James reiterated an “outperform” rating and set a $135.00 price target (up previously from $120.00) on shares of PulteGroup in a research note on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and an average price target of $112.21.

PulteGroup Company 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.