Hsbc Holdings PLC Has $91.14 Million Stock Position in PulteGroup, Inc. $PHM

Hsbc Holdings PLC lessened its stake in shares of PulteGroup, Inc. (NYSE:PHM) by 34.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 864,095 shares of the construction company’s stock after selling 456,781 shares during the period. Hsbc Holdings PLC owned about 0.44% of PulteGroup worth $91,144,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. WPG Advisers LLC bought a new position in shares of PulteGroup during the 1st quarter worth approximately $25,000. Hager Investment Management Services LLC grew its position in PulteGroup by 33.3% during the second quarter. Hager Investment Management Services LLC now owns 420 shares of the construction company’s stock worth $44,000 after buying an additional 105 shares in the last quarter. REAP Financial Group LLC increased its stake in PulteGroup by 188.1% in the second quarter. REAP Financial Group LLC now owns 533 shares of the construction company’s stock valued at $56,000 after acquiring an additional 348 shares during the last quarter. Quarry LP boosted its stake in PulteGroup by 43.8% in the first quarter. Quarry LP now owns 571 shares of the construction company’s stock valued at $59,000 after buying an additional 174 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in PulteGroup during the second quarter worth about $64,000. 89.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PHM. Wells Fargo & Company upped their price target on shares of PulteGroup from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Wedbush restated an “outperform” rating and issued a $150.00 price target on shares of PulteGroup in a research report on Tuesday, October 21st. Evercore ISI dropped their target price on shares of PulteGroup from $154.00 to $134.00 and set an “in-line” rating on the stock in a report on Wednesday, October 22nd. Bank of America reduced their price objective on shares of PulteGroup from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 10th. Finally, Zacks Research upgraded PulteGroup from a “strong sell” rating to a “hold” rating in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.67.

PulteGroup Stock Performance

PulteGroup stock opened at $127.19 on Friday. PulteGroup, Inc. has a fifty-two week low of $88.07 and a fifty-two week high of $142.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $24.79 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 0.95 and a beta of 1.25. The firm’s fifty day moving average price is $123.56 and its 200-day moving average price is $118.20.

PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 21st. The construction company reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.10. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.31 billion. PulteGroup had a net margin of 14.93% and a return on equity of 19.58%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.35 EPS. On average, equities research analysts expect that PulteGroup, Inc. will post 12.32 earnings per share for the current fiscal year.

PulteGroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 16th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. This is a boost from PulteGroup’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, December 16th. PulteGroup’s payout ratio is 8.01%.

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.