PulteGroup, Inc. (NYSE:PHM) Shares Sold by Smith Salley Wealth Management

Smith Salley Wealth Management trimmed its holdings in PulteGroup, Inc. (NYSE:PHM) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,569 shares of the construction company’s stock after selling 280 shares during the quarter. Smith Salley Wealth Management’s holdings in PulteGroup were worth $389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Grove Bank & Trust grew its holdings in PulteGroup by 18.4% in the 3rd quarter. Grove Bank & Trust now owns 463 shares of the construction company’s stock valued at $66,000 after buying an additional 72 shares during the period. Cromwell Holdings LLC grew its holdings in PulteGroup by 17.2% in the 3rd quarter. Cromwell Holdings LLC now owns 565 shares of the construction company’s stock valued at $81,000 after buying an additional 83 shares during the period. Concord Wealth Partners grew its holdings in PulteGroup by 1.7% in the 3rd quarter. Concord Wealth Partners now owns 5,002 shares of the construction company’s stock valued at $718,000 after buying an additional 83 shares during the period. Ashton Thomas Private Wealth LLC grew its holdings in PulteGroup by 3.0% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,054 shares of the construction company’s stock valued at $438,000 after buying an additional 88 shares during the period. Finally, Premier Path Wealth Partners LLC grew its holdings in PulteGroup by 3.8% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,572 shares of the construction company’s stock valued at $280,000 after buying an additional 95 shares during the period. 89.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PHM has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on PulteGroup from $162.00 to $155.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Citigroup decreased their target price on PulteGroup from $146.00 to $119.00 and set a “neutral” rating for the company in a report on Monday, January 6th. UBS Group upgraded PulteGroup from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $154.00 to $148.00 in a report on Wednesday, January 8th. Wedbush upgraded PulteGroup from a “neutral” rating to an “outperform” rating and set a $135.00 target price for the company in a report on Friday, January 3rd. Finally, Evercore ISI decreased their price target on PulteGroup from $198.00 to $195.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Six 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.14.

PulteGroup Stock Performance

Shares of NYSE PHM opened at $117.11 on Monday. 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 $24.02 billion, a price-to-earnings ratio of 8.64, a P/E/G ratio of 0.43 and a beta of 1.67. The business’s 50-day simple moving average is $120.34 and its 200-day simple moving average is $127.17. PulteGroup, Inc. has a 52 week low of $100.24 and a 52 week high of $149.47.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, October 22nd. The construction company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.25. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.27 billion. PulteGroup had a return on equity of 25.30% and a net margin of 16.64%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $2.90 EPS. As a group, equities research analysts expect that PulteGroup, Inc. will post 12.96 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were paid a $0.22 dividend. This is a boost from PulteGroup’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Tuesday, December 17th. PulteGroup’s dividend payout ratio (DPR) is 6.49%.

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.