Choate Investment Advisors Sells 169 Shares of PulteGroup, Inc. (NYSE:PHM)

Choate Investment Advisors reduced its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,998 shares of the construction company’s stock after selling 169 shares during the quarter. Choate Investment Advisors’ holdings in PulteGroup were worth $362,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in PulteGroup in the first quarter worth approximately $26,000. Benjamin Edwards Inc. purchased a new position in PulteGroup in the first quarter worth $26,000. Rakuten Securities Inc. purchased a new position in PulteGroup in the fourth quarter worth $37,000. Lindbrook Capital LLC boosted its position in PulteGroup by 335.6% in the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock worth $39,000 after purchasing an additional 292 shares during the last quarter. Finally, Security National Bank bought a new stake in shares of PulteGroup in the fourth quarter valued at $40,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on PHM shares. Evercore ISI boosted their price objective on PulteGroup from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday. StockNews.com upgraded PulteGroup from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Barclays cut their price objective on PulteGroup from $136.00 to $131.00 and set an “overweight” rating for the company in a report on Friday. Oppenheimer increased their target price on PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada increased their target price on PulteGroup from $106.00 to $113.00 and gave the company a “sector perform” rating in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, PulteGroup presently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

PulteGroup Stock Down 0.1 %

PHM traded down $0.09 during trading on Monday, hitting $116.24. 2,146,184 shares of the company’s stock traded hands, compared to its average volume of 1,786,512. The company’s 50 day simple moving average is $113.04 and its two-hundred day simple moving average is $110.09. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. PulteGroup, Inc. has a 12-month low of $68.80 and a 12-month high of $122.72. The stock has a market capitalization of $24.45 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 0.52 and a beta of 1.61.

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

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 18th were paid 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 dividend yield of 0.69%. PulteGroup’s dividend payout ratio (DPR) is currently 6.41%.

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.