Providence Capital Advisors LLC Sells 141 Shares of PulteGroup, Inc. (NYSE:PHM)

Providence Capital Advisors LLC trimmed its position in PulteGroup, Inc. (NYSE:PHM) by 5.7% during the third quarter, Holdings Channel reports. The firm owned 2,326 shares of the construction company’s stock after selling 141 shares during the quarter. Providence Capital Advisors LLC’s holdings in PulteGroup were worth $334,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of PHM. WR Wealth Planners LLC raised its holdings in shares of PulteGroup by 54.7% in the 2nd quarter. WR Wealth Planners LLC now owns 232 shares of the construction company’s stock valued at $26,000 after purchasing an additional 82 shares during the period. Fortitude Family Office LLC grew 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 valued at $27,000 after buying an additional 99 shares during the last quarter. LRI Investments LLC acquired a new position in PulteGroup in the 1st quarter valued at about $28,000. Transcendent Capital Group LLC acquired a new position in PulteGroup in the 3rd quarter valued at about $29,000. Finally, Rothschild Investment LLC acquired a new position in PulteGroup in the 2nd quarter valued at about $31,000. 89.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on PHM. Oppenheimer decreased their price target on shares of PulteGroup from $168.00 to $165.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI decreased their price target on shares of PulteGroup from $198.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Bank of America upped their price target on shares of PulteGroup from $138.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. UBS Group upped their price target on shares of PulteGroup from $148.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Wolfe Research lowered shares of PulteGroup from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Six 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.00.

PulteGroup Stock Performance

NYSE PHM opened at $136.53 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $28.00 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 0.56 and a beta of 1.63. The firm’s 50 day simple moving average is $136.51 and its 200 day simple moving average is $126.25. PulteGroup, Inc. has a 1 year low of $86.59 and a 1 year high of $149.47.

PulteGroup (NYSE:PHM) last posted its quarterly 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. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.27 billion. PulteGroup had a net margin of 16.64% and a return on equity of 25.30%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted $2.90 EPS. As a group, research analysts expect that PulteGroup, Inc. will post 12.94 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Tuesday, December 17th will be paid a $0.22 dividend. This is an increase from PulteGroup’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.88 annualized dividend and a yield of 0.64%. PulteGroup’s dividend payout ratio is presently 6.49%.

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.