SVB Wealth LLC Sells 521 Shares of PulteGroup, Inc. (NYSE:PHM)

SVB Wealth LLC cut its position in shares of PulteGroup, Inc. (NYSE:PHM) by 10.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,455 shares of the construction company’s stock after selling 521 shares during the quarter. SVB Wealth LLC’s holdings in PulteGroup were worth $537,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Blair William & Co. IL raised its holdings in shares of PulteGroup by 1.9% in the first quarter. Blair William & Co. IL now owns 27,269 shares of the construction company’s stock valued at $3,289,000 after purchasing an additional 516 shares during the last quarter. Certuity LLC acquired a new stake in PulteGroup in the 4th quarter valued at $245,000. Banque Cantonale Vaudoise lifted its position in PulteGroup by 166.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 13,146 shares of the construction company’s stock worth $1,586,000 after buying an additional 8,215 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of PulteGroup by 6.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 297,544 shares of the construction company’s stock worth $35,890,000 after buying an additional 17,369 shares during the last quarter. Finally, Personal CFO Solutions LLC bought a new position in shares of PulteGroup in the 4th quarter valued at about $719,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

PulteGroup Stock Performance

NYSE:PHM traded up $2.92 during mid-day trading on Monday, hitting $132.91. 2,859,712 shares of the stock were exchanged, compared to its average volume of 1,855,869. The firm’s 50-day simple moving average is $114.31 and its 200 day simple moving average is $111.60. The stock has a market capitalization of $27.96 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 0.53 and a beta of 1.61. PulteGroup, Inc. has a fifty-two week low of $68.80 and a fifty-two week high of $133.51. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.76.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, July 23rd. The construction company reported $3.83 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.56. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.49 billion. PulteGroup had a return on equity of 25.67% and a net margin of 16.75%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.00 earnings per share. As a group, equities analysts anticipate that PulteGroup, Inc. will post 12.81 EPS for the current fiscal year.

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.60%. PulteGroup’s payout ratio is presently 6.41%.

Analyst Ratings Changes

Several research analysts recently commented on PHM shares. Barclays increased their price target on PulteGroup from $131.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Wedbush reissued a “neutral” rating and issued a $115.00 target price (up from $105.00) on shares of PulteGroup in a research note on Tuesday, July 23rd. Zelman & Associates raised shares of PulteGroup from a “neutral” rating to an “outperform” rating in a research report on Wednesday, April 24th. Raymond James lifted their price objective on shares of PulteGroup from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on shares of PulteGroup from $141.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.14.

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.